The funding round comes at the same time as the announcement of an additional 130 jobs within the organisation.
Luminate Medical, a Galway-based medtech company, has announced the raising of $21m as part of an expanded Series A funding round, taking its total funding to date to more than $50m.
The round was co-led by Lachy Groom and ARTIS Ventures, with participation from Western Alliance Life Sciences, alongside existing investors 8VC, Y Combinator, Atlantic Bridge, Faber, SciFounders and Elkstone, among others.
According to Luminate, the announcement comes at a time in which healthcare organisations in the US are expressing a keen interest in participating in Luminate’s Lotus programme, alongside the launch of the company’s peripheral neuropathy prevention trial at St James’ Hospital, Dublin.
In a statement, The University of Galway spin-out explained patients undergoing chemotherapy treatment spend on average one to three days in hospital. The organisation, which develops at-home cancer treatments, intends to use the funds to launch access to home cancer care at 40 partner oncology clinics before launching its novel patient-led home infusion technology later in the year.
Luminate Medical said, “Clinical studies of the Lotus auto-injector and monitoring technologies, designed to enable patient-led self-administration of some anti-cancer therapies, are expected to begin in the first half of 2026.”
The medtech also plans to employ an additional 130 employees over the course of the next three years. Luminate is actively recruiting for roles in software development, electronics, clinical research, mechanical design and manufacturing to join the team at its Galway office and for oncology nurses, pharmacists and healthcare administrators to join its remote US workforce.
Commenting on Luminate Medical’s funding news, Aaron Hannon, the CEO and co-founder of the company said, “Cancer doesn’t need to mean life-changing financial, time, or physical burdens on patients. Luminate’s care model and technology can help providers stay in control of the patient’s treatment while scaling their impact to meet the growing future demand for cancer care.
“Importantly, we’re doing that while reducing the cost of care to the healthcare system, but most significantly, to the patient. This fresh injection of funding helps us to capitalise on a growing demand from providers and managed care partners to work with us in delivering better outcomes for patients.”
Luminate was founded in 2018 by Aaron Hannon, Dr Barbara Oliveira and Professor Martin O’Halloran at the University of Galway, Ireland. In April of last year, as part of the DTIF programme, the organisation’s Lotus project was given €6.4m to develop a smart system that will facilitate at-home anti-cancer treatment so patients can monitor and treat the illness in the comfort of their own home.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.
