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§ Private Profile · Dublin, Ireland
Medtech develops transcatheter devices for tricuspid regurgitation, enabling minimally invasive heart valve repair.
Based in Dublin, Ireland, CroíValve is a medical device company developing a minimally invasive transcatheter valve system to treat tricuspid regurgitation. The clinical-stage firm focuses on the DUO Coaptation Valve System, which provides a crucial alternative to open-heart surgery for elderly and frail cardiac patients. The Trinity College Dublin spin-out was founded in 2016 by Lucy O'Keeffe, Martin Quinn, Paul Heneghan, and Bruce Murphy. To fund its clinical development and regulatory approval stages, the venture-backed medtech company secured over three million euros in seed funding and a 16 million dollar Series B financing. CroíValve is supported by a strong syndicate of institutional investors, including Enterprise Ireland, SOSV, Atlantic Bridge University Fund, and Broadview Ventures. The company recently received an Investigational Device Exemption from the FDA to initiate an early feasibility study in the United States.
CroíValve has raised $53.5M across 7 funding rounds.
CroíValve has raised $53.5M in total across 7 funding rounds.
CroíValve has raised $53.5M across 7 funding rounds. Most recently, it raised $14.5M Grant / Other Equity in July 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 2, 2025 | $14.5M Grant | EU Horizon | — | Announced |
| Aug 1, 2024 | $16M Series B | Medtech & Irrus Syndicates | Broadview Ventures, SOSV, Ascentifi, Atlantic Bridge, Daniel Gottlieb, Elkstone, Enterprise Ireland, Furthr, Ehsan Jabbarzadeh | Announced |
| Feb 1, 2022 | $9M Series A | — | BioStar Ventures, Broadview Ventures, SOSV | Announced |
| Sep 12, 2019 | $4.4M Grant | — | Atlantic Bridge, Maria Berkman, European Union, HBAN Medtech Syndicate, Irrus Investments, SOSV | Announced |
| Sep 1, 2019 | $2M Seed | — | BioStar Ventures, Broadview Ventures, SOSV | Announced |
| Mar 28, 2019 | $3.6M Venture Round | Bernard Collins, Irrus Investments | Helen Ryan, Enterprise Ireland, SOSV | Announced |
| Mar 1, 2019 | $4M Seed | — | Broadview Ventures, SOSV | Announced |
CroíValve has raised $53.5M in total across 7 funding rounds.
CroíValve's investors include EU Horizon, MedTech & Irrus Syndicates, Broadview Ventures, SOSV, Ascentifi, Atlantic Bridge, Daniel Gottlieb, Elkstone, Enterprise Ireland, Furthr, Ehsan Jabbarzadeh, BioStar Ventures.
CroíValve is a clinical-stage medtech company developing the DUO™ System, a minimally invasive transcatheter device for treating tricuspid regurgitation (TR), a common heart valve disorder affecting millions worldwide that leads to blood backflow and heart complications.[1][2][3][6] The device serves high-risk patients unsuitable for open-heart surgery, solving the problem of invasive, risky procedures by delivering via a neck vein catheter to restore native valve function without penetrating tissue or disrupting anatomy.[1][3][5] Backed by €8M Series A (2022) and $16M Series B funding, CroíValve—spun out from Trinity College Dublin—shows strong growth, expanding its team to 10+ with a new CTO and preparing a US feasibility study.[2][4]
Founded in 2016 as a spin-out from Trinity College Dublin's Trinity Centre for Bioengineering, CroíValve emerged from Dr. Martin Quinn's vision after pioneering Ireland's first transcatheter aortic valve replacement in 2008, inspiring solutions for tricuspid and mitral valves.[2][4][5] Co-founders include CEO Dr. Lucy O’Keeffe, with over a decade leading medtech programs at multinationals; Dr. Paul Heneghan, a PhD engineer in device design; and Prof. Bruce Murphy, head of TCD's medtech incubator.[2][4][5] Early traction came via Enterprise Ireland and EIT Health funding for R&D, evolving from concepts preserving native leaflets to the DUO™ System, with pre-clinical validation proving superior safety and efficacy.[1][2][5]
CroíValve stands out in the TR medtech space through these key advantages:
CroíValve rides the explosive growth in transcatheter heart valve repairs, targeting the €3B TR market amid rising prevalence in aging populations (over 4M cases in US/Europe alone).[1][6][7] Timing aligns with momentum from giants like Edwards Lifesciences and Abbott, whose recent TR advances highlight demand for scalable, non-surgical options, yet leave gaps in broad applicability that CroíValve exploits via its native-preserving approach.[7] Market forces—underdiagnosis, high-risk elderly patients, and regulatory progress in the US—favor minimally invasive medtech, positioning CroíValve to influence ecosystem standards by enabling wider adoption and shorter practitioner training.[2][3][4]
CroíValve's $16M Series B fuels a pivotal US feasibility study for the DUO™ System, accelerating toward broader trials and market entry in a heating TR space.[4] Trends like AI-guided imaging and personalized devices will shape its path, amplifying advantages in scalability amid competition from incumbents.[7] Its influence may evolve by redefining TR care as first-line for diverse anatomies, transforming outcomes for millions—echoing its founding mission to pioneer safer heart interventions.[2][6]