Renovia Inc, a new women’s startup based in Boston, has shocked many experts by raising $42 million is a short duration. The company, under chief executive officer Marc Beer, is on the search for funds to boost its upcoming project and so, this funding is seen as a significant boost. They were successful when they pulled resources through the series A, and now, they have done it through Series B. It is reported that part of the money was raised through Series B where they collected $32. The remaining $10 was acquired through debt, and the company now has enough financial backup to embark on one of the most ambitious programs.
Investment from other company
Renovia has greatly benefited from other companies that have invested in it. One of the most significant deals is the partnership with The Longwood Group which committed a lot of funs in their new partners. The deal was to pay off a few months later because it is their partner that triggered the accusation money through Series B. With such an arrangement, there is no doubt that the two companies are going to have a long-term relationship and from the look of things; it will be beneficial to all parties.
Development of four products
Renovia is now focusing on the development of products that will change the way women with pelvic floor disorders are treated. According to Marc Beer, these products were designed after a long period of research, and therefore, they are confident that they will have a significant impact on the treatment process. He says that a group of experts has been observing the situations and come up with the features that will boost treatment procedures. Among the four products is a new version of their innovation, Leva. It is believed that even though the current version has been useful, they want to add features that will make it solve the new challenges facing doctors.
The problem of pelvic floor disorders
The company estimates that there are about a quarter a million of women who are affected by pelvic floor disorders. They also say that most of these women have been unable to get treatment because there are limited options at their disposal. As a result, they have to live with the condition despite the discomfort that it brings. It is because of this situation that they want to speed up the product development process. Learn more: https://patch.com/massachusetts/boston/renovias-marc-beer-raises-42m-treat-womens-health-issues
About Marc Beer
After graduating from the University of Miami, Marc Beer embarked on a career that would see him become one of the most recognized professionals in the biotechnology and pharmaceuticals industries. He has been part of teams that have developed innovative devices to help in the treatment of several diseases. Currently, he is the CEO and chairman of Renovia Inc.