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Exclusive: Defibrillator maker Avive raises $57M from Questa

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Illustration: Annelise Capossela/Axios

Remote cardiac arrest device maker Avive Solutions secured $56.5 million in a Series B led by Questa Capital, CEO Sameer Jafri tells Axios exclusively.

Why it matters: Portable automated external defibrillators (AEDs) expand accessibility of the devices.

Zoom in: Previous investors Laerdal Million Lives Fund and Catalyst Health Ventures joined the round, as did new backers RC Capital and Eckuity Capital.

How it works: San Francisco-based Avive offers portable, FDA-approved AEDs that can be installed in places like gyms, offices, and schools.

  • The company's emergency response software platform ties to 911 emergency centers via a partnership with health emergency data provider RapidSOS.
  • Avive's devices cost $1,649 each, including a year of its software service. The company also leases them to companies for $539 per device per year.

What's next: Funds will fuel hiring and commercial development.

  • Jafri says he doesn't foresee Avive raising again for at least two years.
  • RC Capital managing partner Rik Vandevenne is joining Avive's board of directors.

Flashback: The company in 2022 raised a $22 million Series A, also led by Questa.

What they're saying: "Putting these AEDs in a network so you can maintain and monitor them remotely and identify them quickly in a time of need — those are game-changers," Questa Capital managing partner Ryan Drant says.

  • "I think we've set a new standard for what people expect from an AED," Avive's Jafri says.

By the numbers: Cardiac arrest causes 300,000-450,000 deaths annually in the U.S. and can affect healthy people with no obvious risk factors.

State of play: Funds are flowing to virtual care startups focused on heart conditions, but Avive stands out for its on-the-ground approach.

  • Elucid, which provides AI-based imaging software for heart disease, last fall collected an $80 million Series C.
  • Cleerly, which makes a software overlay that adds AI to coronary CT scans, in 2022 raised a $192 million Series C.
  • Cardiosense, a developer of wearable technology designed to identify heart disease, in 2022 closed a $15.1 million Series A.
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