# Puzzle Medical Devices

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

- Industry: Medical Devices & Equipment
- Headquarters: Montreal, Canada
- Website: www.puzzlemed.com
- Total disclosed funding: $30M
- Latest round: Series A (Apr 8, 2025)
- Investors on record: 12

## About

Based in Quebec, Canada, and founded in 2018, Puzzle Medical Devices Inc. provides mechanical hemodynamic support which helps in increasing accessibility and improving patient quality of life. In April 2025, Puzzle Medical Devices Inc. raised CAD 43 million in venture funding co-led by KF Matheson Holdings Corp and Desjardins Capital, with participation from Lumira Ventures, BDC Capital and Longview Ventures, and other unspecified investors.  The company was co-founded by Jade Doucet-Martineau (CEO), Gabriel Georges, and Francois Trudeau. The company offers a heart pump for patients with advanced heart failure. It provides a long-term hemodynamic transcatheter pump known as ModuleHeart for high-risk patients. The firm device avoids open heart surgery and reduces blood trauma as well as it is small and portable and has a long battery life which helps in the mobility of the patients. Additionally, the device can be monitored during the cath lab procedure onsite.

The company will use the April 2025 funding to enhance its percutaneous heart pump and its novel features, advance clinical studies to assess its safety and efficacy, and scale its team to support its growth.

## Funding rounds

- Series A, Apr 8, 2025, $30M — BDC Capital, Desjardins Capital, Longview Ventures, Lumira Ventures, KF Matheson Holdings
- Seed, Jan 24, 2022 — Broadview Ventures, Anges Quebec, AQC Capital, Cathexis Investment Management, Boreal Ventures, asterX Capital, Grant Park Ventures

## Investors

- Broadview Ventures (https://capitalatlas.ai/funds/broadview-ventures) — Seed
- Anges Quebec — Seed
- AQC Capital (https://capitalatlas.ai/funds/aqc-capital) — Seed
- Cathexis Investment Management (https://capitalatlas.ai/funds/cathexis-investment-management) — Seed
- Boreal Ventures (https://capitalatlas.ai/funds/boreal-ventures) — Seed
- asterX Capital (https://capitalatlas.ai/funds/asterx-capital) — Seed
- Grant Park Ventures (https://capitalatlas.ai/funds/grant-park-ventures) — Seed
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- Desjardins Capital (https://capitalatlas.ai/funds/desjardins-capital) — Series A
- Longview Ventures — Series A
- Lumira Ventures (https://capitalatlas.ai/funds/lumira-ventures) — Series A
- KF Matheson Holdings — Series A