# Qnovia

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qnovia

- Industry: Biotechnology
- Headquarters: Richmond, US
- Website: www.qnovia.com
- Total disclosed funding: $33M
- Latest round: Series B (Oct 29, 2024)
- Investors on record: 8

## About

Founded in 2018 and based in Virginia, US, Qnovia, Inc. operates as a pharmaceutical and platform MedTech company. In September 2022, the firm raised USD 17 million in series A funding led by investor Blue Ledge Capital, with participation from other investors DG Ventures, Evolution VC Partners, Gaingels Syndicate, etc. In December 2024, Qnovia, Inc. raised USD 14.21 million in series B funding co-led by returning investors Blue Ledge Capital, Evolution VC Partners, Gaingels, and Vice Ventures. Other unspecified investors also participated in the round. The firm as of October 2022, is led by its CEO, Brian Quigley.

The company’s product RespiRx™, a cartridge-based medical grade inhaled drug delivery system that offers nicotine replacement therapy (NRT) for smokers trying to quit smoking by delivering precise doses via inhalation while addressing cue-induced relapse behavior, under a 12-week step-down regimen. The company is working on the development of a universal API for inhaled drug delivery through an agnostic vibrating mesh nebulizer (VMN), in the areas of Smoking Cessation/NRT, Asthma, COPD, Oncology, Vaccine delivery, etc. The universal API technology also has a digital metered dose interface and Bluetooth-enabled mobile app functionality.

The firm plans to utilize its October 2022 funding to develop an initial proof of concept for its platform in NRT. The firm also plans to initiate a Phase 1 study for NRT in 2023 after the FDA approval.

## Funding rounds

- Series B, Oct 29, 2024, $14M — Gaingels, Evolution VC Partners, Vice Ventures, Blue Ledge Capital
- Series A, Sep 28, 2022, $17M — DG Ventures, Gaingels, Evolution VC Partners, Vice Ventures, Blue Ledge Capital, TL Capital
- Seed, Jan 10, 2020, $2.3M — DG Ventures, Evolution Venture Partners, Poseidon Asset Management

## Investors

- DG Ventures (https://capitalatlas.ai/funds/dg-ventures) — Seed, Series A
- Evolution Venture Partners (https://capitalatlas.ai/funds/evolution-venture-partners) — Seed
- Poseidon Asset Management (https://capitalatlas.ai/funds/poseidon-asset-management) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A, Series B
- Evolution VC Partners (https://capitalatlas.ai/funds/evolution-vc-partners) — Series A, Series B
- Vice Ventures (https://capitalatlas.ai/funds/vice-ventures) — Series A, Series B
- Blue Ledge Capital (https://capitalatlas.ai/funds/blue-ledge-capital) — Series A, Series B
- TL Capital (https://capitalatlas.ai/funds/tl-capital) — Series A