Total medical devices industry venture financing deals worth $1.22bn were announced in the US in March 2021, led by $125m venture financing of Paige.AI , according to GlobalData’s deals database.

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The value marked an increase of 48.6% over the previous month of $821.16m and a rise of 45.01% when compared with the last 12-month average of $841.34m.

The US held a 67.03% share of the global medical devices industry venture financing deal value that totalled $1.82bn in March 2021.

In terms of venture financing deal activity, the US recorded 60 deals during March 2021, marking an increase of 15.38% over the previous month and a rise of 9.09% over the 12-month average.

US medical devices industry venture financing deals in March 2021: Top deals

The top five medical devices industry venture financing deals accounted for 37.4% of the overall value during March 2021.

The combined value of the top five medical devices venture financing deals stood at $457m, against the overall value of $1.22bn recorded for the month.

The top five medical devices industry venture financing deals of March 2021 tracked by GlobalData were:

1) Casdin Capital , Catalio Capital Management , Johnson & Johnson Innovation – JJDC and KKRInc’s $125m venture financing of Paige.AI

2) The $102m venture financing of Inflammatix by D1 Capital Partners , Khosla Ventures , Northpond Ventures , OSF Ventures and Think.Health(Think.Health Ventures)

3) Alumni Ventures Group , aMoon Partners , Echo Health Ventures , Khosla Ventures and Northpond Ventures’ $82m venture financing of Scipher Medicine

4) The $75m venture financing of iXlayer by Anne Wojcicki, Bobby Yazdani, Dara Khosrowshahi, General Catalyst Partners , Hamid Moghadam, Pear Ventures and Zeshan Muhammedi

5) Deerfield ManagementLP, ION Crossover Partners and Omega Capital Partners’ venture financing of Happify Health for $73m.