Theranica, an Israeli biomedical technology company, raised $6 million in a Series A funding round led by Lightspeed Venture Partners. Other investors included LionBird and Corundum Open Innovation.
Theranica focuses on developing electronic and wireless communication technology which, when used alongside neurological advancements, creates an alternative to biochemical treatments. This drug-free solution has been coined "electroceuticals", and Theranica says they plan to use this technology to ameliorate medical conditions.
The company intends to use the funds raised during this round to move past the regulatory stage and mass produce their first product, which will be used for the acute treatment of migraines. Theranica says they hope to tailor their wearable technology to other medical conditions as well.
Read more: FinSMEs
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