Crowdfunding is no longer seen as just an experiment but a launchpad for regulatory approval, early adoption, and VC validation. Funding gaps remain, but device makers are harnessing the crowd for capital, market validation, and clinical feedback. In this blog, explore how medtech companies are harnessing this ecosystem, along with some success stories from our industry: EndoSound, NasaClip, Tympany Medical and Aspivixxx.
Introduction and market overview:
Against the backdrop of a challenging venture capital landscape and the knock-on demand on family offices, angel investors and creative sources of capital, crowdfunding has become an increasingly viable option for MedTech startups.
In 2024, medical crowdfunding was valued at about $3.5B and growing, estimated to hit $13B by 2033.
Examples of utilization:
Company |
Technology |
Crowdfunding details |
| Tympany Medical | Solascope – variable-angle, self-cleaning endoscope | EUR 600,000 open on the Spark crowdfunding platform |
| NasaClip | NasaClip – doctor-designed, mess-free solution for nosebleeds | $2.6M+ raised to date via the WeFunder platform |
| Aspivix | Carevix – suction, cervix stabilizer for gyn procedures | EUR 2.5M+ raised earlier this year via the Capital Cell platform |
Endosound: Active crowdfunding campaign
Endosound Vision System – FDA-cleared endoscopic ultrasound tech for pancreatic and liver disease diagnosis.
- FDA breakthrough device and FDA cleared. 600+ procedures performed with a 95%+ clinical acceptance.
- Co-Founder and CTO sold last company MicroConnex to Carlisle Interconnect Technologies.
- Major GI company paid $5M for licensing agreement.
- Raised $12M+ to date from GeoMedTech, AGA GI Fund, strategic partners and founders.
- Significant IP with 10 awarded patents and 10 patents pending.
- Hybrid go-to-market model: $40k system sale + $650 recurring revenue.
- GI Innovation of the Year 2022 – American Society for Gastrointestinal Endoscopy (ASGE)
- Expanding into a $20.1B global market across gastrointestinal diagnostics and echo-endoscopy
Considerations for CEOs and Founders:
Trends:
- Hybrid financing models combining crowdfunding with VC financing are growing common.
- Social media can help accelerate crowdfunding success through broad, viral reach.
- Elevated healthcare costs fuel patient and startup crowdfunding reliance.
Challenges:
- FDA regulatory limits impact campaign messaging for medical devices.
- Donor fatigue demands compelling storytelling and strong community outreach.
- Unequal geographic representation favours urban over rural campaigns.
Would your company benefit from a crowdfunding campaign?
How could your organization best harness crowdfunding as a strategic tool to accelerate innovation and market entry?
What changes in your funding models, partnerships or innovation approaches would be needed to capitalize on this emerging ecosystem?
How might integrating community-driven funding signals improve your product development and commercialization strategies?
In the context of regulatory constraints and donor dynamics, how will you balance risk and opportunity to lead in medtech crowdfunding?
