CoreMap has raised $37m to advance its electrophysiology mapping system in a funding tranche led by Medtronic.
Backed by the medtech giant and with additional participation from new and existing investors, the oversubscribed Series C financing round reflects the need for more precise, data-driven tools to guide atrial fibrillation (AF) ablation, CoreMap stated.
With the latest financing almost doubling its funds raised since its founding in 2016, Massachusetts-based CoreMap’s electrophysiology mapping system is under development to support the treatment and diagnosis of AF, a condition wherein the heart misfires electrical signals. Causing the heart to beat erratically, the condition can result in the formation of blood clots in the heart that can cause stroke. According to the British Heart Foundation (BHF), individuals with AFib are five times more likely to have a stroke. Underpinned by CoreMap’s proprietary high-density mapping technology and advanced data analytics platform, the company’s mapping system uses electrical activation data to generate real-time, 3D electroanatomical maps specific to patient’s anatomy.
CoreMap CEO, Sarah Kalil, commented: “This investment provides the resources to accelerate CoreMap's next-generation AF mapping platform’s time to market.
“Our goal is simple: to provide electrophysiologists with a clearer understanding of AF so they can deliver more targeted, personalised treatment.”
GlobalData analysis reveals that the global electrophysiology devices market is growing at a CAGR of 10.2% and forecast to reach a valuation of almost $25bn in 2035. According to a GlobalData market model, Johnson and Johnson (J&J) subsidiary Biosense Webster held a 47% share of the US electrophysiology ablation catheter market in 2025, followed by Boston Scientific and Medtronic with market shares of 31.6% and 13%, respectively.
While Medtronic is still playing catchup in the US market with its key competitors, the company’s PulseSelect pulsed-field ablation (PFA) system is generation swelling revenues for the company.
Medtronic’s cardiovascular portfolio, which includes its PulseSelect system, achieved revenue of $3.46bn in Q3 of fiscal year 2026 (FY26), corresponding to a year-over-year (YoY) uptick of 13.8%. Medtronic’s finance chief, Thierry Pieton, highlighted during a conference call that the portfolio’s cardiac ablation segment (CAS) grew 80% YoY, with PFA accounting for 80% of this revenue.
