July 2024 Newsletter

Tapping into a trillion dollar opportunity: closing the gender healthcare gap with Raydiant Oximetry

In this issue, we are thrilled to share the remarkable success of our portfolio company, Raydiant Oximetry. The team at Raydiant has raised an oversubscribed Series A extension round with over $7.5 million in funding. This round was led by Cross-Border Impact Ventures, a women-owned venture capital fund that focuses on the health of women and children across the globe, and syndicated by RH Capital, VCapital and the March of Dimes Innovation Fund.

This infusion of capital will propel Raydiant’s groundbreaking Lumerah and Daisy technologies through critical clinical studies. In April, Raydiant obtained FDA approval for its Lumerah Investigational Device Exemption (IDE) study. Lumerah is a non-invasive, transabdominal fetal pulse oximeter that can detect fetal distress during labor and delivery and potentially improves outcomes for mothers and newborns during childbirth.

From the very beginning, we believed in Raydiant Oximetry’s vision and potential. Through Global Health Impact Fund  (GHIF) we invested in their seed and Series A extension rounds, the latter being GHIF-led Special Purpose Vehicle (SPV). As Raydiant scales its operations, this SPV remains open for investments. In alignment with our core values, GHIF has provided Raydiant with not only capital but also vital resources to fuel their journey. Reflecting on our partnership, Raydiant Founder and CEO Neil Ray expressed, “There was even a difference in pitching to GHIF. We didn’t have to explain the problem. With other investors we spent most of the time educating them, and many didn’t even believe in the problem or that there was a barrier to accepting it”. Our unwavering commitment to Neil and his team underscores our pride in championing Raydiant as they continue to achieve greatness.