Sunrise, announces € 17 million ($18m USD) in funding. The successful fundraising is led by Kurma Partners and includes the exceptional entry of the European Innovation Council (EIC Fund). The Walloon start-up has also taken an important step by obtaining approval from the European (MDR) and American (FDA) medical authorities. Sunrise hopes to make a real difference to the lives of millions of people around the world who suffer from sleep disorders.
The new financing, led by Kurma Partners, confirms the confidence of its historical investors, VIVES IUF and Namur Invest. New investors such as Sambrinvest, IMBC, InvestBW, and Sofinex join Sunrise, in addition to the exceptional entry of the EIC Fund, the European Commission’s prestigious deep tech program, into the company’s capital.
This funding is in addition to the €12 million Sunrise has raised since its inception. The start-up hopes to accelerate its growth with two major moves in the coming months: commercializing its technology in the United States and hiring new talent. Sunrise aims to multiply the size of its teams by 10 in the next five years.
Sunrise has already achieved a significant milestone in its international development: the approval of its second-generation technology by the Food and Drug Administration (FDA) in America and the approval of the device under the recent Medical Device Regulation (MDR) in Europe. The company has also been awarded the SleepTech Award 2022 by the American National Sleep Foundation.
Laurent Martinot, CEO of Sunrise: “This latest fund-raising operation, together with our accreditation, confirms our ambition to improve access to treatment for the 1 billion people worldwide who suffer from sleep apnoea. Studies show that the vast majority of these people are unaware of this disease. Sleep apnoea is probably one of the most common and under-diagnosed chronic diseases in the world.”
Philippe Peltier, Partner at Kurma Partners: “Sunrise’s solutions will change the lives of millions of people around the world who suffer from sleep disorders today. Their world-class clinical performance technology is the first to provide patients with a simple, accessible and uniquely accurate sleep analysis solution.”
Hermann Hauser, the EIC Fund board member: “The EIC Fund has established itself as a strong force in EU deep-tech investments. This unique form of financing via EIC – combining grants and equity – is proving itself highly attractive to Europe’s most promising start-ups, and providing them with the means to develop and scale their businesses in Europe.”
Launched in 2015, Sunrise has grown significantly in recent months. This evolution is driven by the increasing demand from both patients and medical professionals to organize faster and more accurate sleep diagnostics at home. The Sunrise team currently consists of 30 people and has around 20 vacancies in Belgium, France, and the United States. Sunrise intends to grow further in the coming months.