Charlottesville medical device company Luminoah Inc. has closed a $6 million Series A round it says it will use to complete the development of its mobile feeding tube device that collects data.
The round was led by Charlottesville’s Fry’s Path Capital and included participation from Arlington’s Sands Capital, Charlottesville’s CAV Angels, Virginia Beach’s 757 Angels and Richmond’s Virginia Venture Partners — the equity investment arm of the Virginia Innovation Partnership Corp.
Luminoah, which took top honors at the Light House Labs’ Demo Day competition last month, says its device lets patients to keep a more mobile lifestyle while on a feeding tube. Its data-tracking features also allow remote patient monitoring.
CEO Neal Piper started the company after his young son was diagnosed with cancer and required a constraining feeding tube.
“It’s just a no-brainer to let a kid be active while you pump nutrition into their stomach,” Piper told Richmond Inno last month.
Piper said the goal is to apply for Food and Drug Administration approval in 2024. Luminoah wants to go after the pediatric home health care market initially, but also seeks to move into senior and rehabilitation markets. The company says the enteral feeding technology market is worth about $12 billion and that half-a-million children could benefit from its product.
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