FineHeart, a clinical-stage medical device company operating out of Bordeaux and Tours, stated it completed a €35 mn first closing of its Series C round as part of a broader €83 mn financing package aimed at advanced heart failure treatment.
The first close pulls in new capital from Groupe Pasteur Mutualité and Groupe Etchart, alongside a sizeable commitment from the European Innovation Council through its EIB fund.
Existing backers stayed in. That group includes FH Founders, the founders’ holding vehicle, plus Lurra, IRDI, Groupe Doliam, and NACO. No reshuffle. More of a reinforcement.
Beyond equity, FineHeart secured €48 mn in non-dilutive grants under the Important Project of Common European Interest Tech4Cure program. Funds will be released in stages.
FineHeart acts as lead partner in a project designed to support structure the European active implantable medical devices sector, a niche Brussels clearly wants anchored inside the bloc.
Arnaud Mascarell, CEO and co-founder, stated the mix of private capital and IPCEI support backs FineHeart’s plan to build IP-protected technologies focutilized on predictive and personalised medicine.
The funding to Europe’s industrial positioning and healthcare sovereignty, language that travels well in EU funding circles.
FineHeart traces its origins back to 2010. Mascarell founded the company with Dr Stéphane Garrigue, the CSO and inventor of FlowMaker, Dr Philippe Ritter, co-inventor of cardiac resynchronisation therapy, and Philippe Plas, who brings more than two decades in cardiac rhythm management.
The founding team blconcludes clinical depth with device-market experience, and it displays in the product strategy.
The company’s lead device, FlowMaker, is positioned as the first fully implantable cardiac output accelerator for advanced heart failure.
FineHeart describes it as sitting somewhere between a pacecreater and a cardiac assist device. It operates entirely inside the ventricle, supports natural heart contractions, and avoids aortic bypass, which keeps native blood flow intact.
According to the company, FlowMaker runs in sync with the heart, utilizes limited energy, and avoids percutaneous connections to external batteries. Power comes through a transcutaneous energy transfer system, which cuts infection risk and, by design, improves patient quality of life.
These design choices matter in long-term implant scenarios.
Implantation relies on a minimally invasive beating-heart procedure that most cardiac surgeons already perform. Average procedure time sits around 90 minutes, which keeps surgical burden within familiar limits.
Altoreceiveher, FineHeart has now raised €83 mn combining private capital and European public funding. In July last year, the company was named lead partner for the IPCEI Tech4Cure initiative.
The European Commission approved the project under EU state aid rules to support medical device innovation, including new digital and AI functions. Six EU member states jointly notified the project: France, Hungary, Italy, Latvia, Slovakia, and Slovenia.
FineHeart holds a patent portfolio spanning 160 patents across 27 families. Funding comes from a mix of founders, industrial groups, and investment funds, including FH Founders, Doliam, Etchart Group, Groupe Pasteur Mutualité, Lurra, Aquiti Gestion, Galia Gestion, Broadview Ventures, IRDI Capital Investment, M Capital, UI Investment, and Verve Capital.
Public backing includes support from the European Union, Bpifrance, and the Nouvelle-Aquitaine and Centre-Val de Loire regions.
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