# Pi-Cardia

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pi-cardia

- Industry: Medical Devices & Equipment
- Headquarters: Rehovot, Israel
- Website: www.pi-cardia.net/
- Total disclosed funding: $10M
- Latest round: Series C (Jan 7, 2016)
- Investors on record: 5

## About

Pi-Cardia Ltd., based in Israel, specializes in the design and manufacture of innovative medical devices targeting structural heart diseases, focusing on non-implant-based valve treatments to improve patient outcomes.Founded in 2009 and headquartered in Rehovot, Israel, Pi-Cardia Ltd. develops advanced medical devices aimed at structural heart disease. The company has pursued funding to support its innovative product development strategy. Erez Golan serves as both the CEO and a co-founder, alongside Rafi Benary. In July 2020, Pi-Cardia raised USD 25 mn in funding, primarily from Venus MedTech (HangZhou) Inc. This investment reflects the company’s commitment to advancing its product offerings in the healthcare sector. Pi-Cardia has successfully completed five funding deals to date, with the latest round contributing to its total amount raised of USD 25 mn.Pi-Cardia specializes in innovative medical devices aimed at addressing structural heart disease, particularly through non-implant-based valve treatments. Their flagship products include the ShortCut™ device and the Leaflex™ Performer, designed for leaflet modification in bioprosthetic heart valves. The ShortCut™ device is FDA-cleared for splitting valve leaflets, addressing the critical risk of coronary obstruction in patients, while the Leaflex™ Performer remains an investigational device intended exclusively for clinical investigations. These products aim to simplify procedures by offering low-profile catheter solutions that require shorter hospitalization, making them particularly appealing to healthcare providers focused on efficiency and patient safety. Pi-Cardia’s solutions are marketed primarily in the United States and select regions in Europe, targeting hospitals and cardiac care centers that cater to patients with structural heart conditions.Pi-Cardia generates revenue through direct sales of its medical devices to healthcare facilities, including hospitals and specialized cardiac centers. The business model operates on a B2B structure, where transactions occur as one-time purchases rather than subscriptions or recurring partnerships. Sales of the ShortCut™ device and Leaflex™ Performer are structured around unit pricing, with potential volume discounts offered to larger institutions. Given the specialized nature of these devices, the pricing aligns with the premium market for advanced medical technology, reflecting their innovative nature and the clinical benefits they provide. The company continues to focus on expanding its client base within the healthcare sector, emphasizing the efficacy and safety of its product offerings to drive sales growth.Pi-Cardia plans to use the funds raised in July 2020 to accelerate the development of its innovative product range and to explore new market opportunities. The company is focused on launching new products in the near future, particularly advancements in their catheter-based solutions. Additionally, Pi-Cardia aims to expand its market presence within Europe and the United States, targeting hospitals and cardiac care centers by the end of the next fiscal year. This strategic growth initiative is intended to enhance their position in the competitive healthcare landscape, leveraging their recent funding to support these expansions.

## Funding rounds

- Series C, Jan 7, 2016, $10M — Innogest, Clal Biotechnology, Virtus Inspire Ventures, Indaco Venture Partners
- Series C, Sep 1, 2015 — Indaco Venture Partners
- Series B, Dec 1, 2011 — Accelmed

## Investors

- Accelmed (https://capitalatlas.ai/funds/accelmed) — Series B
- Indaco Venture Partners (https://capitalatlas.ai/funds/indaco-venture-partners) — Series C
- Innogest (https://capitalatlas.ai/funds/innogest) — Series C
- Clal Biotechnology (https://capitalatlas.ai/funds/clal-biotechnology) — Series C
- Virtus Inspire Ventures (https://capitalatlas.ai/funds/virtus-inspire-ventures) — Series C