BESANÇON, France--(BUSINESS WIRE)--Archeon, a pioneer in CPR artificial intelligence, today announced the completion of a €5.5 million Series A financing round, led by three investment funds, Karot Capital, Majycc eSanté Invest and Daphni, and supported by the European Regional Development Fund (ERDF - European Social Fund for Franche-Comté and Massif du Jura), and by Bpifrance.
This funding will speed up Archeon’s access to new markets including North America and allow it to expand its range of medical ventilation devices to new pre-hospital and hospital uses. In addition to the EOlife unit, the PulmonAIR device currently developed is destined to be the first fully automated emergency ventilator for managing respiratory distress. What’s more, these funds will help Archeon expand its current team of 17 people by creating R&D and marketing jobs.
“We would like to thank all of the private and public investors for their support and trust. Our aim is to become the leaders in smart ventilation… Our EOlife solution has the potential to revolutionise ventilation in and outside hospitals and to save lives when treating patients in cardiorespiratory arrest.”, says Pierre-Edouard Saillard, Archeon’s co-founder.
“For Karot Capital, this is an opportunity to invest in a unique technology with the potential to become a future standard of care in emergency medicine, in the same way as automatic defibrillators”, explains Charles-Antoine Morand, Karot Capital’s CEO.
“We are very happy to have completed this Series A round. This is an important step in our development that will speed up our access to international markets and boost our research in autonomous ventilation”, adds Archeon’s co-founder, Alban De Luca.
As healthcare experts, we are convinced that Archeon’s smart ventilation solution is a game-changer for emergency ventilation. We are delighted to assist Archeon in its development and support this exceptional team”, adds Pauline de Breteuil, Managing Director of Majycc.
“Bpifrance is delighted to have assisted ARCHEON, led by a friendly team of talented staff, thoroughly committed to its region. This transaction is fully in line with the strategy of our Deeptech plan, which places innovation and growth at the heart of our priorities through business technology”, concludes Pierre-Alain Truan, Innovation Officer at Bpifrance in Burgundy Franche-Comté.
Marketed directly and via a distribution network in France and around the world since the beginning of 2020, the EOlife solution – a smart device to assist ventilation outside hospitals – has been a great success with emergency professionals.
About Archeon
Archeon was created in Besançon in January 2018 by Alban De Luca and Pierre-Edouard Saillard. The two engineers designed EOlife, a device to assist manual ventilation in cases of cardiorespiratory arrest, which is the leading cause of death worldwide and has a survival rate of less than 5%. The system automatically measures and analyses the patient’s respiratory variables in real time, to deliver enough oxygen while avoiding hyperventilation.
