# Rhaeos

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

- Industry: Medical Devices & Equipment
- Headquarters: Evanston, US
- Website: www.rhaeos.com
- Total disclosed funding: $8.4M
- Latest round: Series A (Feb 15, 2023)
- Investors on record: 9

## About

Rhaeos, Inc. is a healthcare technology company focused on improving hydrocephalus management through innovative solutions. Their flagship device, FlowSense®, is designed for quick, non-invasive assessment of shunt flow in patients.Founded in 2018 in Evanston, US, Rhaeos, Inc. specializes in technology for hydrocephalus management. The company has successfully completed four deals, with the most recent funding round occurring on February 15, 2023. In this Series A funding round, Rhaeos secured USD 6.15 mn led by Steele Foundation for Hope and included investors such as Creative Ventures and Lateral Frontiers. The total amount raised by Rhaeos to date is USD 6.15 mn, with a current company valuation of USD 45.08 mn. The founders, Amit Ayer and Siddharth Krishnan, have brought their expertise to the forefront of hydrocephalus care under the leadership of CEO Anna Somera.Rhaeos, Inc. specializes in innovative healthcare technology aimed at improving the management of hydrocephalus, a condition affecting approximately one million Americans. The core product, FlowSense®, is a non-invasive, wireless, and wearable device that assesses shunt flow in hydrocephalus patients in a matter of minutes. This technology addresses the critical challenge of detecting shunt malfunctions, which can lead to significant health complications if not identified promptly. The company's primary customer base includes hospitals, clinics, and healthcare practitioners who treat pediatric and adult patients suffering from hydrocephalus. Rhaeos operates in multiple geographical markets, including the United States and select regions in Europe, specifically targeting major cities such as Los Angeles, Toulouse, and Lyon.Rhaeos, Inc. generates revenue through direct sales of its flagship product, FlowSense®, to healthcare providers and institutions. The company's transaction structure is primarily B2B, as it partners with hospitals and clinics that seek advanced solutions for managing hydrocephalus. By providing a vital diagnostic tool, Rhaeos facilitates better patient outcomes while addressing the high costs associated with shunt malfunctions, which exceed USD 2 bn annually in the U.S. healthcare system. The transactions typically involve upfront purchases of the FlowSense® device, complemented by potential ongoing service agreements for data management and device support. The company’s focus on innovative healthcare solutions positions it well within a niche market that requires specialized products for optimal patient care.In February 2023, Rhaeos, Inc. raised USD 6.15 mn in Series A funding, which will be utilized to advance the development and introduction of the FlowSense shunt monitor. The company aims to enhance its product offerings and expand into new geographic markets. Specific markets targeted for expansion include regions in Europe, with plans to extend operations by 2024.

## Funding rounds

- Series A, Feb 15, 2023, $6.2M — Lateral Frontiers, Creative Ventures, Steele Foundation for Hope
- Seed, Dec 24, 2021, $2.2M — Band of Angels, Northwestern University, Lateral Frontiers, University of Michigan Social Venture Fund, Creative Ventures, KYTO Technology & Life Science, Portal Innovations, Cedars-Sinai Health Ventures

## Investors

- Band of Angels (https://capitalatlas.ai/funds/band-of-angels) — Seed
- Northwestern University — Seed
- Lateral Frontiers (https://capitalatlas.ai/funds/lateral-frontiers) — Seed, Series A
- University of Michigan Social Venture Fund (https://capitalatlas.ai/funds/university-of-michigan-social-venture-fund) — Seed
- Creative Ventures (https://capitalatlas.ai/funds/creative-ventures) — Seed, Series A
- KYTO Technology & Life Science (https://capitalatlas.ai/funds/kyto-technology-life-science) — Seed
- Portal Innovations (https://capitalatlas.ai/funds/portal-innovations) — Seed
- Cedars-Sinai Health Ventures — Seed
- Steele Foundation for Hope — Series A