Openwater Announces $100M Financing to Treat Diseases at Cellular Level

Gunderson Dettmer represented client Openwater, a medical technology company, in its $100 million financing from new and existing investors including Plum Alley Ventures, Khosla Ventures and BOLD Capital Partners. Using open-source principles that reduce medical device regulatory time and costs, Openwater develops technology that integrates semiconductor physics, light, and sound to diagnose and treat diseases at the cellular level. The new capital will be used to advance its mission of making advanced medical care more accessible and affordable globally.

In the announcement of the transaction, Openwater founder and Chief Executive Officer Mary Lou Jepsen said, "As a brain tumor survivor, I'm not just developing technology; I'm fighting for my life and the lives of millions like me. We've shrunk brain tumors and treated depression using lower intensity sound waves than fetal ultrasounds."

The Gunderson Dettmer team was led by Mike Irvine and included Gina Marek, Mark Foster, Travis Glock and Alan Gao.

Companies
Openwater
Plum Alley Ventures
Khosla Ventures
BOLD Capital Partners