# ShiraTronics

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

- Industry: Medical Devices & Equipment
- Headquarters: Minneapolis, US
- Website: www.shiratronics.com
- Total disclosed funding: $52M
- Latest round: Series B (Sep 17, 2024)
- Investors on record: 10

## About

ShiraTronics, Inc., based in the US, is dedicated to developing innovative neuromodulation therapies targeted specifically for individuals suffering from chronic migraines, aiming to enhance patient quality of life.ShiraTronics, Inc. specializes in neuromodulation therapies for chronic migraine sufferers. Founded by Lynn Elliott and Mudit Jain, with Lynn Elliott serving as CEO, the company is headquartered in Minneapolis, US. The most recent funding round was a Series B investment of USD 37.396 mn, led by Norwest Venture Partners, which was part of a total Series B funding of USD 66 mn. The company has completed 4 deals to date, with the latest deal occurring on September 17, 2024.ShiraTronics specializes in the development and provision of innovative neuromodulation therapies specifically designed for individuals suffering from chronic migraine. Their flagship product is a migraine-specific device that is surgically implanted beneath the skin. This device is engineered to deliver continuous stimulation to targeted nerves associated with migraine, with the aim of relieving, interrupting, and preventing chronic migraine symptoms. The company targets patients who have not achieved satisfactory results from traditional medication treatments, focusing on improving their quality of life by alleviating the debilitating effects of chronic migraines. ShiraTronics operates in both the United States and Australia, catering to a diverse patient base seeking alternative solutions for chronic migraine management.ShiraTronics' revenue is primarily generated through the sale of its investigational neuromodulation devices, which are utilized in clinical settings for patients experiencing chronic migraines. The transaction structure typically involves partnerships with healthcare providers and clinics, where the devices are offered directly to patients under clinical investigation protocols. These transactions are characterized by a direct-to-consumer approach, allowing patients access to the migraine-specific device following thorough consultations and assessments by medical professionals. Pricing plans for these devices are structured to reflect the specialized nature of the product, potentially encompassing device costs, associated medical procedures, and follow-up care, linking the company’s revenue model closely to the healthcare sector.In September 2024, ShiraTronics, Inc. raised USD 37.39 mn in Series B funding, led by Norwest Venture Partners, to support the FDA-approved RELIEV-CM2 Clinical Study, pursue premarket approval, and initiate the commercial launch of its Migraine Therapy System for chronic migraine patients. The funding will facilitate the development of this new device, aimed at broader availability in the US and Australian markets. The company plans to strategically expand into additional international markets following successful clinical outcomes.

## Funding rounds

- Series B, Sep 17, 2024, $37M — US Venture Partners, Norwest Venture Partners, Seroba, Aperture Venture Partners, OSF Ventures, Treo Ventures, Amzak Capital Management, Global BioAccess Fund
- Series A, Mar 27, 2020, $1.2M — Breakout Ventures
- Series A, Oct 23, 2019, $14M — US Venture Partners, Aperture Venture Partners, LivaNova PLC, Treo Ventures, Amzak Capital Management

## Investors

- US Venture Partners (https://capitalatlas.ai/funds/us-venture-partners) — Series A, Series B
- Aperture Venture Partners (https://capitalatlas.ai/funds/aperture-venture-partners) — Series A, Series B
- LivaNova PLC — Series A
- Treo Ventures (https://capitalatlas.ai/funds/treo-ventures) — Series A, Series B
- Amzak Capital Management (https://capitalatlas.ai/funds/amzak-capital-management) — Series A, Series B
- Breakout Ventures (https://capitalatlas.ai/funds/breakout-ventures) — Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B
- Seroba (https://capitalatlas.ai/funds/seroba) — Series B
- OSF Ventures (https://capitalatlas.ai/funds/osf-ventures) — Series B
- Global BioAccess Fund (https://capitalatlas.ai/funds/global-bioaccess-fund) — Series B