# Theranica Bio-Electronics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/theranica-bio-electronics

- Industry: Medical Devices & Equipment
- Headquarters: Netanya, Israel
- Website: www.theranica.com
- Total disclosed funding: $86M
- Latest round: Series C (Aug 29, 2022)
- Investors on record: 6

## About

Theranica Bio-Electronics Ltd is focused on providing innovative, drug-free pain relief solutions through wearable technology, particularly for migraine and neurological pain management.Founded in 2016 and headquartered in Netanya, Israel, Theranica Bio-Electronics specializes in wearable medical devices. The company was co-founded by Ronen J., Shimon Eckhouse, and Slava Barabash. The company has successfully raised USD 45 mn in its Series C funding round on August 29, 2022, led by New Rhein Healthcare Investors with participation from other notable investors. Theranica has completed a total of 4 funding deals.Theranica Bio-Electronics specializes in drug-free pain relief through its flagship product, Nerivio, a novel wearable device designed for the management of migraine and other neurological pain conditions. Nerivio utilizes remote electrical neuromodulation (REN) to stimulate peripheral nerves in the upper arm, effectively triggering Conditioned Pain Modulation (CPM) to enhance the brain's ability to inhibit pain perception. The company markets its products primarily to patients and healthcare providers across North America, Europe, and select markets in Asia, targeting demographics affected by chronic pain conditions, particularly those seeking non-pharmacological treatment options. The affordability and accessibility of Theranica's offerings support both consumers and medical professionals seeking clinically validated alternatives to traditional pain management therapies.Theranica's revenue model is centered around direct-to-consumer sales of its Nerivio device, which requires a prescription from healthcare providers. The company collaborates with medical professionals and institutions to provide access to its products. Each transaction involves healthcare providers recommending Nerivio to patients, who then purchase the device either directly or through designated retail channels. The pricing structure for Nerivio is designed to be accessible, reflecting the company's aim to offer affordable pain management solutions. Theranica may also explore subscription models for ongoing software updates or additional therapeutic functionalities associated with the device, aiming to enhance customer engagement and satisfaction over time.With the USD 45 mn raised in the Series C funding round, Theranica Bio-Electronics plans to support its expansion into the United States market. The company is also focused on designing and launching new products, although specific release dates have not been disclosed. The funding will aid in facilitating their growth strategy and enhancing their product offerings in the expanding market.

## Funding rounds

- Series C, Aug 29, 2022, $45M — Lightspeed Venture Partners, LionBird, New Rhein Healthcare Investors, Takoa Invest, Corundum Open Innovation, aMoon
- Series B, Mar 18, 2019, $35M — Lightspeed Venture Partners, LionBird, Takoa Invest, Corundum Open Innovation, aMoon
- Series A, Jul 3, 2017, $6M — Lightspeed Venture Partners, LionBird, Corundum Open Innovation

## Investors

- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series A, Series B, Series C
- LionBird (https://capitalatlas.ai/funds/lionbird) — Series A, Series B, Series C
- Corundum Open Innovation (https://capitalatlas.ai/funds/corundum-open-innovation) — Series A, Series B, Series C
- Takoa Invest — Series B, Series C
- aMoon (https://capitalatlas.ai/funds/amoon) — Series B, Series C
- New Rhein Healthcare Investors (https://capitalatlas.ai/funds/new-rhein-healthcare-investors) — Series C