Desjardins Capital co-leads the $43M funding round of Puzzle Medical Devices
Puzzle Medical, a Montreal-based medtech startup developing a percutaneous heart pump to support cardiac and renal function in patients with advanced heart failure, announced the successful closing of a CAN$43 million funding round. The round was led by KF Matheson and Desjardins Capital, with participation from Lumira Ventures, Longview Ventures, BDC Capital, and existing investors.
This raise represents one of the largest medical device raises in the past two years in Canada. The capital will be used to refine Puzzle Medical’s percutaneous heart pump and its novel features, advance clinical studies to assess its safety and efficacy, and scale the team to support the company’s growth.
“At Desjardins, we firmly believe in innovation and the good it can do for patients’ health. Desjardins Capital’s investment in Puzzle Medical Devices via the CRCD is in step with our commitment to supporting the growth of companies that create revolutionary technology. As a proud partner since February 2023, we’re thrilled to work with Puzzle Medical Devices to improve treatment of heart failure and offer patients worldwide better quality of life”. – Nathalie Bernard, Chief Operating Officer, Desjardins Capital
“Given the current macroeconomic landscape, this funding is a true testament to the impact of our work, the dedication of our team, and the unwavering support of our investors,” said Jade Doucet-Martineau, CEO and co-founder of Puzzle Medical. “These funds will accelerate our mission to transform the treatment of advanced heart failure.”
As part of this milestone, Puzzle Medical is pleased to welcome new board members Kris Shah and David Prim, as well as board observers Daniel Hetu and Steven Abrams.
Founded in 2018, Puzzle Medical Devices is dedicated to improving patient outcomes through the development of a percutaneous heart pump for patients with advanced heart failure. The device’s modular design allows for safe implantation to support both renal and cardiac function through 4mm-pumps anchored in parallel in the descending aorta.