The momentum of French MedTech companies continues with NeuroClues’ latest fundraising round. The start-up, which specializes in ocular biomarkers for neurological diagnosis, has announced a new €10 million financing round.
This funding transaction will enable NeuroClues to enter a key industrialization phase built around artificial intelligence and accelerate its international expansion.
Insights and analysis by the experts at AURIS Finance, an M&A and financial advisory firm.
NeuroClues has completed a €10 million Series A round, marking a major milestone in its development. At the same time, the company has opened an additional €1.5 million investment tranche for retail investors through LITA.
This reflects a deliberate shareholder diversification strategy, combining institutional investors with a broader base of individual subscribers.
Founded in 2020, NeuroClues has supported each stage of its development through successive fundraising rounds. With a total of €25 million raised to date, the company is now reaching a key milestone as it transitions from a development-focused model to an industrialization phase.
A high-potential market
The solution developed by NeuroClues addresses a market where significant needs remain unmet. Neurological diseases are still frequently diagnosed too late or inaccurately. According to estimates, one in five patients is currently affected by a delayed or incorrect diagnosis.
In response, the company has developed a portable device capable of capturing infrared images of patients’ eyes. These images are then analyzed using proprietary artificial intelligence algorithms to generate objective, standardized, and reproducible indicators that meet the clinical and regulatory requirements of the sector.
Rapid international expansion
Following CE marking approval in January 2025, NeuroClues quickly began rolling out its solution across Europe.
It is now present in seven countries, with around thirty devices installed in hospitals, private practices, and research centers.
The MedTech company is currently in a deployment phase, supported by a clinical cohort of 25,000 patients, particularly through Institut du Cerveau in Paris.
This positions the start-up within a leading scientific ecosystem while strengthening the credibility of its technology among healthcare professionals. Two of its three founders are researchers at Institut du Cerveau.
Hybrid financing strategy
NeuroClues has opted for a hybrid financing strategy, combining institutional fundraising with opening its capital to retail investors. This approach helps secure the financial resources required while building a broader ecosystem around the project.
These funds will now support a new growth phase: accelerating expansion across Europe and preparing entry into the U.S. market, which is particularly strategic for neurological diagnostics.
Technological innovation
In a more selective investment environment, MedTech companies capable of addressing clearly identified medical needs continue to attract investor interest. Technological differentiation, clinical robustness, and the ability to scale have become key investment criteria.
In this context, AI-based solutions benefit from a clear advantage. Artificial intelligence improves data processing, enhances diagnostic accuracy, and facilitates scalability, making these companies particularly attractive to investors.
Strong investor appetite
Several recent examples illustrate investor appetite for concrete medical solutions already well advanced in their growth trajectory.
CardiaMetrics recently raised €2 million to finance its implant dedicated to remote monitoring of heart failure.
Meanwhile, DiappyMed, based in Montpellier, completed a €5 million seed round to accelerate the deployment of its application that helps patients calculate the appropriate insulin dosage based on meals, physical activity, and blood glucose levels.
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For MedTech companies, R&D and industrialization phases are particularly capital intensive.
To scale successfully, these companies need strong financial partners through equity raises, industrial partnerships, or public equity markets.
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