Vapotherm finalizes $29M financing round for vapor device expansion

Vapotherm, a maker of respiratory therapy devices, sealed the final deal on a $29 million round of funding to help propel growth plans, the company disclosed this week. And a whopping seven investors are involved.

The new cash infusion comes as Vapotherm has shifted its headquarters from Maryland to a new space in Exeter, New Hampshire, though it maintains a presence in both locations. That move is a strategic one. Company President and CEO Joe Army said in a statement that he wanted to tap into the talent pool for New England's med tech industry as the company expands its development and sale of vapor devices to treat COPD and other breathing ailments.

Leading the round this time: 3X5 Opportunity Fund, along with new investor Morgenthaler Venture Partners. Existing investors also took part, including GE Asset Management, Kaiser Permanente, Integral Capital Partners, QuestMark Partners and Cross Creek Capital.

The company operates in an increasingly popular space, with players including Philips' Respironics unit, which makes ventilators (some recently subjected to an FDA Class I recall). Others focus more on the drug side of things, including AstraZeneca ($AZN), which makes respiratory drugs delivered by inhaler devices.

Vapotherm refers to its signature platform as "patented membrane transfer technology."

- read the release

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