Emovi Secures $15M Series C Funding to Advance KneeKG for Global Knee Diagnostics

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Canadian health technology company Emovi announced the completion of a $15 million Series C financing round on March 4, 2019. The round was led by TVM Capital Life Science, with participation from StandUp Ventures and Desjardins Capital.

The funds from this round of financing will be allocated to two areas: first, promoting the clinical application of Emovi’s core product, KneeKG; and second, accelerating Emovi’s global market expansion.

Emovi is a health technology company headquartered in Montreal, Quebec, Canada, founded in 2007. The company is dedicated to the research and development of devices for knee joint diagnosis and assessment.

According to Emovi Inc.’s official website, KneeKG is an innovative device for knee joint diagnosis and assessment that evaluates the severity of functional impairments in patients’ knees. Emovi aims to expand the application of this technology to improve the quality of life for patients suffering from conditions such as knee osteoarthritis, ligament or meniscal tears, patellofemoral pain syndrome, tendinitis, and biomechanical abnormalities.

“We are honored to partner with a world-class venture capital fund. The addition of TVM Capital Life Science will enhance Emovi’s operational capabilities and accelerate its journey to becoming a global leader in plastic surgery and sports medicine. The proceeds from this financing round will support the promotion of Emovi’s products in regions including Canada, the United States, and Europe,” said Michelle Laflamme, President and CEO of Emovi.

“Emovi is an innovative company, and the launch of its flagship product, KneeKG, will deliver the premier rehabilitation assessment experience for patients suffering from knee pain. We are confident that Emovi will become a leader in this field and generate superior returns for investors. Furthermore, TVM Capital Life Science will provide essential support for Emovi’s global expansion, such as facilitating market access in Europe and North America and offering additional assistance with regulatory approval processes in various regions,” said Dr. Luc Marengere, Managing Partner at M Capital Life Science.

TVM Capital Life Science is a health technology investment firm headquartered in Montreal, Quebec, Canada. It was established on March 1, 2012. The firm primarily invests in biotechnology, pharmaceutical, and medical device companies.

StandUp Ventures is a venture capital firm headquartered in Toronto, Ontario, Canada, founded in 2017. The company invests through a portfolio approach, aiming to provide funding to promising technology companies and healthcare enterprises at various stages of development, thereby addressing long-unmet clinical needs.

Desjardins Capital is the venture capital fund management division of Mouvement des caisses Desjardins. Established in 1900 and headquartered in Quebec, Canada, the firm primarily invests in startups and high-tech enterprises.

(Compiled by Hu Xuan)