# Neuromod Devices

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/neuromod-devices

- Industry: Medical Devices & Equipment
- Headquarters: Dublin, Ireland
- Website: www.neuromoddevices.com
- Total disclosed funding: $47M
- Latest round: Series B (Mar 11, 2025)
- Investors on record: 7

## About

Based in Ireland, Neuromod Devices Limited focuses on developing advanced medical technology for tinnitus treatment, delivering innovative therapeutic solutions through its flagship device, Lenire®, designed for at-home use and tailored patient care.Neuromod Devices Limited specializes in the development of medical devices aimed at treating tinnitus. Founded in 2010 in Dublin, Ireland, by Ross O'Neill, the company has raised EUR 10.00 mn in its Series B funding round, co-led by Fountain Healthcare Partners and Panakes Partners. The company has successfully completed a total of 12 deals with its most recent funding round on March 11, 2025. Ross O'Neill has an extensive background in the medical devices sector, contributing to the company's strategic direction and growth.Neuromod Devices specializes in the development and commercialization of innovative medical technology aimed at treating tinnitus through bimodal neuromodulation. Their flagship product, Lenire®, is a prescription-based, at-home treatment device that combines auditory and electrical stimulation to alleviate the symptoms of tinnitus, which affects approximately 15% of the global adult population. The device is customized by qualified healthcare providers to suit the individual needs of each patient, ensuring a tailored approach to treatment. Lenire has received CE marking in Europe and has been granted FDA De Novo approval in the United States, highlighting its regulatory compliance and safety profile. Neuromod's primary customer base includes healthcare providers and clinics across Europe and North America, with the company actively engaged in expanding its market presence in other regions such as parts of Asia and Australia.In the most recent fiscal year of 2022, Neuromod Devices reported a revenue of EUR 1,272,737.80, with an EBITDA of EUR -10,304,125.30, indicating significant investments in growth and product development.In March 2025, Neuromod Devices Ltd. raised EUR 10 million in Series B funding, which will be utilized to expand the availability of its tinnitus treatment device, Lenire, and support sustainable commercial growth in the USA and Europe. This includes expanding opportunities within the US Department of Veterans Affairs, aiming to increase market share and accessibility of their innovative treatment solutions.

## Funding rounds

- Series B, Mar 11, 2025, $11M — Fountain Healthcare Partners, Panakes Partners
- Series B, Feb 21, 2023, $16M — Fountain Healthcare Partners, Panakes Partners, Enterprise Ireland
- Series B, Oct 8, 2020, $7.7M — Kreos Capital, Fountain Healthcare Partners, Silicon Valley Bank, MD Resource Corp., Moffett Investment Holdings
- Series A, Mar 29, 2019, $4.5M — Fountain Healthcare Partners, Moffett Investment Holdings
- Series A, Jul 25, 2018, $1.4M — Fountain Healthcare Partners
- Series A, Aug 10, 2015, $6M — Fountain Healthcare Partners

## Investors

- Fountain Healthcare Partners (https://capitalatlas.ai/funds/fountain-healthcare-partners) — Series A, Series B
- Moffett Investment Holdings — Series A, Series B
- Kreos Capital — Series B
- Silicon Valley Bank — Series B
- MD Resource Corp. — Series B
- Panakes Partners (https://capitalatlas.ai/funds/panakes-partners) — Series B
- Enterprise Ireland (https://capitalatlas.ai/funds/enterprise-ireland) — Series B