Openwater is a technology company.
Openwater has raised $99.0M across 3 funding rounds.
Openwater has raised $99.0M in total across 3 funding rounds.
# High-Level Overview
Openwater is a medtech startup pioneering open-source medical imaging and treatment devices that leverage semiconductor technology, infrared light, and ultrasound to diagnose and treat diseases at the cellular level.[1][4] Founded in 2016 by Mary Lou Jepsen, the company aims to democratize advanced medical care by creating affordable, accessible diagnostic and therapeutic tools that can be manufactured using the same processes that produce consumer electronics.[5] Rather than pursuing the traditional high-cost, high-margin healthcare model, Openwater's mission is to treat millions of people quickly by charging smaller profit margins per unit while using differentiated software to address hundreds of diseases with a single hardware platform.[1]
The company serves a global audience, with particular emphasis on underserved populations in remote areas where access to hospital-grade diagnostics is limited.[5] Openwater's core problem-solving approach centers on making sophisticated medical technology affordable and accessible worldwide by open-sourcing its platform, thereby reducing regulatory complexity and accelerating innovation across the healthcare ecosystem.[5]
# Origin Story
Mary Lou Jepsen founded Openwater in 2016 after an accomplished career in consumer technology and moonshot ventures.[5] She previously founded One Laptop per Child (OLPC) and Pixel Qi, led two initiatives at Google X, and served as an executive at Facebook/Oculus VR focusing on virtual reality.[5] In 2015, Jepsen left her executive position to launch Openwater, bringing her expertise in low-power electronics and hardware innovation into the healthcare space.
The company emerged from a fundamental question: what if breakthroughs in consumer electronics, semiconductor physics, and artificial intelligence could converge to make disease curing accessible to all, transcending geographic and economic borders?[1][4] Seven years into its journey, Openwater has generated strong clinical feasibility data demonstrating potential treatments for aggressive cancers, mental health disorders, strokes, COVID/long COVID, and cellular rejuvenation.[4] The company has secured $100 million in total funding from investors including Khosla Ventures, BOLD Capital Partners, Plum Alley Investments, and others, validating its vision and approach.[5]
# Core Differentiators
# Role in the Broader Tech Landscape
Openwater represents a convergence of three powerful trends reshaping healthcare: democratization of medical technology, open-source innovation in regulated industries, and the application of consumer electronics manufacturing to medical devices.[5] The company challenges the traditional healthcare economics model, where treatments command premium pricing, by applying the semiconductor industry's playbook of high-volume, low-cost manufacturing to medicine.
The timing is critical. As healthcare costs escalate globally and diagnostic access remains limited in developing regions, Openwater's approach offers an alternative pathway to scaling medical innovation.[1][5] By open-sourcing its platform, the company influences the broader ecosystem by reducing barriers to entry for other medtech innovators and potentially accelerating regulatory approval processes through collaborative data sharing.[5] This model could reshape how medical devices are developed, approved, and distributed—shifting from proprietary, high-cost solutions to collaborative, accessible platforms.
# Quick Take & Future Outlook
Openwater stands at an inflection point where clinical validation meets manufacturing scalability. The company's next phase will likely focus on regulatory pathways for its lead applications (cancer, mental health, stroke) while expanding the software ecosystem to address additional disease categories.[4] As the company moves toward commercialization, its open-source model will be tested against traditional pharmaceutical and medtech incumbents—a competitive dynamic that could either accelerate industry-wide transformation or face resistance from entrenched players.
The broader question Openwater poses is whether healthcare can adopt the innovation velocity and accessibility principles that have defined consumer technology. If successful, Openwater won't just build a company; it will demonstrate a fundamentally different way to organize medical innovation—one where curing disease at scale matters more than maximizing profit per treatment.
Openwater has raised $99.0M in total across 3 funding rounds.
Openwater's investors include Footwork, Jetstream, Khosla Ventures, KittyHawk Ventures, Kleiner Perkins, Plum Alley Investments, Esther Dyson, Gary Lauder.
Openwater has raised $99.0M across 3 funding rounds. Most recently, it raised $54.0M Venture Round in August 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2024 | $54.0M Venture Round | Footwork, Jetstream, Khosla Ventures, KittyHawk Ventures, Kleiner Perkins, Plum Alley Investments, Esther Dyson, Gary Lauder | |
| Dec 1, 2018 | $22.0M Series A | Footwork, Jetstream, Khosla Ventures, KittyHawk Ventures, Kleiner Perkins, Plum Alley Investments, Esther Dyson, Gary Lauder | |
| Nov 1, 2018 | $23.0M Series A | KittyHawk Ventures |