Tivic Health Systems, maker of a commercial sinus pain relief device, announced yesterday that it has raised $8 million in seed funding. Sand Hill Angels, Astia Angels, Golden Seeds, HBS Angels, Sierra Angels, Lateral Capital, Skylight Investments, an unnamed physician network and individual investors each backed the company through a series of smaller investments, the most recent of which the startup said closed last week.
WHAT THEY DO
Tivic’s primary product, the ClearUP Sinus Pain Relief device, is a non-invasive, over-the-counter treatment for hay fever sinus pains. Upon pressing a single button when holding the product up to the cheek, nose or brow, it delivers a low electrical current that stimulates nerves below the skin and provides relief. The ClearUP device received 510(k) clearance in January and, according to the company, is slated to launch commercially in mid-September at $149.
WHAT IT’S FOR
Tivic said in its funding announcement that the new money will fuel a marketing push for the ClearUP device’s upcoming launch.
MARKET SNAPSHOT
Tivic’s product stands out as a device that directly treats sinus pain, but others have built tools that can help those susceptible avoid conditions in which their allergies may be aggravated — for instance, Propeller Health’s respiratory health forecasting services. Similarly, direct-to-consumer telemedicine consultation service PlushCare also offers consultations with allergy specialists that can help these users manage their allergies.
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ON THE RECORD
“Bioelectronics is a high growth industry and is expanding rapidly. Until recently, bioelectronic medicine has been accessible primarily through implantable devices,” Jennifer Ernst, CEO and co-founder of Tivic Health, said in a statement. “Today more companies are developing non-invasive solutions. ClearUP harnesses the power of neuromodulation into a consumer-friendly, non-invasive treatment that will help the more than 40 million Americans suffering from the frustrating sinus pain symptom of allergies.”
Date: July 30, 2019
Source: <span style=”color: #000000;”><a style=”color: #000000;” href=”https://tivichealth.com/articles/handheld-allergy-relief-device-maker-raises-8m-seed-funding/” target=”_blank” rel=”noopener noreferrer”>Tivic Health</a></span>
