The startup, Flow Neuroscience, will use the money to get its first product approved in Europe.
Medical device manufacturers are now due to start paying the tax in 2020 unless they succeed in getting it scrapped for good.
The startup will use the series A funds to scale its predictive analytics platform while working to form partnerships with healthcare organizations.
The expansion will entail validating the use of the tumor microenvironment tests in new indications while setting up a lab in the U.S.
Senators Elizabeth Warren and Ed Markey, both Democrats from Massachusetts, unveiled legislation that would eliminate excise tax on medical devices.
The financing equips Stimwave to push ahead with its previously disclosed plans to make its devices available across the U.S.
The French VC shop moved quickly to put the initial $102 million to use by setting up and financing three startups in its home country.
The Minneapolis-based medtech firm is aiming to improve glucose control in diabetics by ablating nerves linked to metabolic organs.
Israel-based Motus GI announced its intention to hold an initial public offering to raise as much as $28.8 million, according to an SEC filing on Friday.
SomaLogic, a developer of a technology used to analyze proteins for personalized medicine and proteomics, got $200 million in a round led by iCarbonX.