Endodontic technology developer Sonendo has completed an equity financing totaling $35 million, which will be used to further technology development, fund clinical studies, and commercialize the company's GentleWave system for root canal therapy. The system debuted at the American Association of Endodontists annual meeting this year and is currently in limited market release.
The financing round was led by Meritech Capital Partners with new investor SEB Private Equity joining Fjord Ventures, OrbiMed Advisors, and NeoMed Management to form the investor syndicate.
Sonendo President and CEO Bjarne Bergheim stated in a press release that his company was dedicated to transforming endodontic therapy.
"We are pleased to have Meritech Capital, a prestigious and highly successful late-stage investment firm, lead this round of financing as we head into commercialization of our GentleWave system," he said. "Our investors share our mission of transforming endodontic therapy: delivering ultraclean root canal therapy for patients; and predictability, efficiency, and practice differentiation to the clinician."
