CoreMap Secures $37 Million Series C Financing Led by Medtronic to Advance High-Precision AFib Mapping Platform

July 30, 2026,Atrial Fibrillation Mapping Technology Company CoreMap Announces Completion of $37 Million Series C Financing(approximately RMB 250 million)。This round of financing was oversubscribed, led by Medtronic, with participation from both new and existing investors. The company stated that the funds will be used to advance its high-precision mapping platform for atrial fibrillation (AFib) ablation therapy and accelerate the commercialization of its next-generation AFib mapping system.

For Medtronic, this also marks another strategic move within its arrhythmia treatment ecosystem in the past two months.Previously, Medtronic had announced on June 3 its investment in intracardiac echocardiography (ICE) companies Beluga Medical and CardioACC (Xinhuan Technology), and on July 16, it co-led a $48 million Series B financing round for thrombectomy technology company RapidPulse., continuously building product portfolios around the fields of electrophysiology, cardiovascular intervention, and neurovascularUnion.

# From Competition in Ablation Devices to Competition in Mapping Capabilities

CoreMap is headquartered in Burlington, Massachusetts, USA, and was founded in 2016., by clinical electrophysiologistsDr. Peter SpectorWith Senior Professionals in the Medical Device IndustrySarah KalilCo-founded. The company's development focus is not on ablation energy platforms, but ratherElectrophysiology Mapping System (EP Mapping System)。

According to the company's disclosure, its products areHigh-Density Mapping TechnologyandData Analytics PlatformComposition, core includesInvenio™ Mapping CatheterandVidereX™ Workstation, with the aim of providing physicians with ablation guidance based on extensive high-precision electrical activation data during atrial fibrillation ablation procedures, rather than relying on traditional experience to formulate ablation strategies.

Atrial fibrillation has always been one of the most complex diseases in the field of electrophysiology. According to official data from CoreMap,There are approximately 37.5 million patients with atrial fibrillation worldwide, and the annual medical costs attributable to atrial fibrillation in the United States amount to approximately $26 billion.. Currently, in mainstream catheter ablation therapy, regardless of whether radiofrequency (RF) or pulsed field ablation (PFA) is used, pulmonary vein isolation (PVI) remains the foundational strategy. However, forPersistent Atrial Fibrillation (Persistent AF)For patients, relying solely on anatomical ablation strategies still leaves room for improvement in long-term efficacy—the recurrence rate after a single ablation procedure remains high, with many patients requiring secondary or even multiple surgeries.

Therefore, in recent years, the industry has begun to refocus on another critical issue:How to More Accurately Identify the Abnormal Electrical Activity Regions That Truly Drive the Persistence of Atrial Fibrillation.

CoreMap aims to address precisely this step.

According to public information, the CoreMap EP Mapping System developed by the company employs an ultra-high-density endocardial mapping approach. Its Invenio™ catheter is equipped with a dense micro-scale electrode array, capable of recording during a single atrial fibrillation mapping procedure.Hundreds of Thousands of Electrical Activation Data Points, and capture highly localized, high-fidelity electrocardiographic signals with minimal signal fragmentation, then combine algorithmic identification of patient-specific abnormal electrical activity regions (i.e., "driver foci") to provide a basis for personalized ablation strategies.

This means that its value proposition is not to replace ablation catheters, but to become an important front-end component of the ablation platform.Decision-Making Tools—Enabling physicians to transition from "empirical guesswork" to "evidence-guided practice."

# CoreMap is still in the clinical validation phase

At the time of financing completion, the CoreMap product had not yet entered the commercialization stage.

According to the public information on ClinicalTrials.gov, the company is conductingINvENI Study(Registration Number: NCT06529978), this is a global, multicenter, prospective feasibility study evaluating the safety and efficacy of the CoreMap EP Mapping System in patients with persistent atrial fibrillation. The study plans to enroll245 patients, expected to beCompletion of Primary Endpoints by the End of 2026。

Previously, the company has obtained approval from the U.S. FDA to expand this study to conduct IDE clinical trials in the United States.Professor Vivek Reddy of the Icahn School of Medicine at Mount Sinai, USA, serves as the principal investigator for the US IDE., Professor Petr Neuzil from Na Homolce Hospital in the Czech Republic is the principal investigator of the global study. To date, the CoreMap system has demonstrated safety and acute efficacy in more than 50 patients.

Publicly available information indicates that the INvENI study is divided into three phases:

• Phase I: Primarily collected high-fidelity endocardial electrical signals and verified system safety (14 patients);

• Phase II: To evaluate the acute safety and efficacy of CoreMap-guided individualized ablation strategies (15 patients);

• Phase III: A randomized controlled study comparing the 12-month clinical outcomes of CoreMap-guided ablation (PVI plus targeted driver focus ablation) versus a control strategy (standard PVI plus posterior wall isolation), with the primary endpoint being the freedom from recurrence of atrial fibrillation, atrial tachycardia, and atrial flutter.

Therefore, this round of financing is more aligned withClinical Advancement and Commercialization Readiness Phase, rather than post-launch market expansion.

# Medtronic’s Investment Logic: Strengthening Key Capabilities Around the Affera Ecosystem

$37 million is not a large financing round, but when combined with Medtronic’s recent consecutive moves, it becomes clear that its strategic focus lies in# The Entire Atrial Fibrillation Treatment Process。

Medtronic’s Fiscal 2026 Performance Marks Fastest Growth in Nearly a Decade，Annual Revenue Reached$36.4 billion, year-on-year growth8.4%. Among them, the cardiovascular business contributed the most.Cardiac Ablation Solutions Business: Global Revenue Up 78% Year-Over-Year, U.S. Market Surges 124%; Year-on-year growth in PFA business revenue145%, Affera system installations in the U.S. increased month-over-month40%。

When a product line grows at triple-digit rates, closing any gaps in supporting infrastructure becomes a strategic priority.

In June this year, Medtronic announced investments in Beluga Medical and CardioACC, both of which are developingIntracardiac Echocardiography (ICE) CatheterAmong them, CardioACC (Shenzhen XinHuan Technology) obtained approval from China's NMPA in 2025, and its ICE system adopts80-Element Large-Aperture High-Density Probe, marking the world’s first; Beluga Medical is in the pre-market development stage in the United States. Medtronic has clearly stated its future plan to integrate ICE capabilities into the Affera system, further enhancing the electrophysiology workflow.

This investment in CoreMap corresponds to another key capability—Electrophysiological Mapping。

From a clinical workflow perspective, an atrial fibrillation ablation procedure typically includes:

• Electroanatomical Mapping

• Intracardiac Echocardiography (ICE)

• Navigation and Positioning

• Ablation Catheter Therapy

• Postoperative Data Analysis

In recent years, the focus of competition among leading international companies has been gradually shifting from single catheters toComplete Workflow Platform。

For Medtronic, Affera already possesses PFA and 3D mapping platforms: Sphere-9™ is currently the only dual-energy, fully featured mapping and ablation catheter approved for both persistent atrial fibrillation and typical atrial flutter, with approvals in the United States, Europe, Japan, and other regions; Sphere-360™, a fully featured single-shot PFA catheter, has been approved in Europe, and pivotal clinical trials in the United States are rapidly enrolling patients. By investing in external innovative companies, Medtronic can proactively position itself to integrate emerging technologies into its platform in the future, without having to wait for internal R&D completion.

This approach has also become a relatively common path for innovative collaboration among major international medical device companies in recent years—Trade Capital for Time, Invest for Ecosystem。

# Conclusion

As pulsed field ablation (PFA) reshapes the market landscape with overwhelming momentum, the value of mapping technology, serving as the "eyes" and "brain" of the surgical procedure, is being re-evaluated.

CoreMap’s $37 million Series C financing round epitomizes the restructuring of value across the atrial fibrillation treatment industry chain. Medtronic’s successive strategic moves within six weeks—spanning ICE imaging, mapping algorithms, and neurointerventional aspiration technology—reflect a clear and resolute underlying logic:No longer pursuing the ultimate performance of single-point technologies, but rather building a complete closed-loop system spanning imaging, mapping, ablation, and post-procedural assessment.

For China’s electrophysiology industry, this trend is equally worthy of vigilance and reference. As domestic PFA companies cluster in their catch-up efforts, gaps in “soft power” capabilities such as mapping, imaging, and AI algorithms may become the dividing line for competition in the next phase. After all, in the battle against atrial fibrillation,Precision Matters More Than Force。