Inova Labs
Medical device company developing and distributing direct patient care products.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Founded in 2002 and based in Austin, Texas, Inova Labs established itself as a developer and manufacturer of medical devices specifically targeting patients with respiratory illnesses. The company was a privately held entity that successfully attracted venture capital, raising a total of $45M over five funding rounds from investors including LVP, Gilde Healthcare, and Three Arch Partners. The initial funding round occurred in August 2009, with subsequent rounds in May 2010 (Series A, $10M), November 2011 (Series B, $17.5M), and June 2014 (Series C, $15M).
Inova Labs' core business revolved around the design and commercialization of oxygen concentrators for individuals with respiratory disorders. The product line included portable and stationary devices designed to improve patient mobility and quality of life. Key products were the LifeChoice Activox and Activox DUO2 oxygen concentrators. The Activox Pro and Activox 4L models were lightweight, portable concentrators, weighing 4.3 and 4.8 pounds respectively, and were certified by the FAA for safe use on airplanes. The Activox DUO2 was a larger, 37.5-pound unit designed for less mobile use. These products provided a continuous supply of oxygen, a critical need for their target clientele suffering from chronic respiratory conditions.
The company's business model focused on the manufacturing and sale of these medical devices. Eventually, Inova Labs was acquired and is now part of ResMed, a major player in the respiratory medical device market. The acquisition integrated Inova Labs' product portfolio into ResMed's broader offerings. Following the acquisition, the company was classified as an "acqui-hired" entity.
Keywords: respiratory illness, oxygen concentrators, medical devices, LifeChoice Activox, Activox DUO2, portable oxygen, respiratory disorders, patient mobility, ResMed acquisition, venture capital, Gilde Healthcare, Latterell Venture Partners, Three Arch Partners, medical device manufacturing, FAA certified, respiratory care, Austin Texas startup, oxygen therapy