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Magnendo Corp. secures $18M Series A financing led by Penumbra to advance their robotic navigation technology for stroke intervention.

PRIVATEJul 24, 2026•16 days ago

Amount Raised

$18 Million

Round Type

Series A

NewtonInformation TechnologyBiotechnologySoftwareHealth CareMedical DeviceRobotics

Investors

Penumbra, Inc.

Description

Magnendo Corp. has announced the closing of an $18 million Series A financing. The funding will support the productization of their robotic platform and preparation for first-in-human clinical studies. Led by Penumbra, the financing includes participation from new and existing institutional investors

Company Information

Company

Magnendo

Location

300 WASHINGTON STREET

Newton, Massachusetts, United States

About

Magnendo is transforming the way we treat stroke or brain aneurysms with faster, safer, and easier access through the power of robotic technologies. Setting a new standard in the endovascular space with our novel robotic platform, we push the boundaries of care so that more patients in more places can get back to living the lives they love. In the long run, our technology can open possibilities for remote stroke treatment, helping more patients gain access to life-saving endovascular therapy.

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Funding Insights

Based on industry data
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months
Monthly burn rate benchmark
47% of Series A startups spend $400k or more per month on operations
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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