Top health areas for startup funding — Cardiology is No. 1

Health IT startups have secured more than $1 billion in recent funding rounds, with cardiology as the top-funded medical area, according to a Deloitte report.

The report analyzed 836 health IT startups across several medical specialties. 

Five report findings:

  1. Most (77 percent) of the startups in the MedTech Innovator database said they have only enough capital to continue operations through the end of 2021. Without additional cash, 96 percent of startups could run out of money at some point in 2022. This includes companies that currently have paying customers.

  2. Health IT startups raised $1.8 billion in their most recent funding rounds.

  3. Cardiology was the top-funded specialty, raising $158 million across 56 companies. Radiology and nuclear medicine raised $133 million across 26 companies; nephrology raised $119 million across 11 companies; orthopedic surgery and sports medicine raised $110 million across 45 companies; and cardiac, thoracic and vascular surgery raised $101 million across 31 companies.

  4. In other medical areas, 667 companies raised $1.17 billion.

  5. Most health IT startups are in series A funding rounds. Across all funding rounds, cardiology sought $403 million, followed by infectious disease, which sought $374 million, and preventive medicine and wellness, which sought $322 million.

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