Metaplanet invests in healthtech startup Luminate Medical

Jaan Tallinn’s fund Metaplanet has invested in healthtech startup Luminate Medical. The lead investor in the $15M Series A was US-based Artis Ventures. San-Fransisco-based SciFounders and Austin-based 8VC also participated in the deal.

Founded in Ireland in 2018 by Aaron Hannon, Barbara Oliveira, and Martin O’Halloran, Luminate Medical is developing a device called Lily to prevent chemotherapy-induced hair loss. The helmet-shaped device uses low-level compression therapy on the surface of the scalp. The helmet blocks capillaries and prevents chemotherapy drugs from reaching the patient’s hair follicles. It is undergoing clinical trials in Europe but has not yet been approved for commercial use. The second device is Lilac, which prevents chemotherapy-induced peripheral neuropathy, and a loss of sensory and motor function. The device looks like a glove or a boot and can be used on the hands and feet. Luminate Medical is also conducting clinical research in fertility, menopause, and vascular access.

The health tech startup plans to expand its clinical trials in the U.S., including teams for testing, training, and marketing.

Metaplanet Holdings is an early-stage investment firm of Skype’s founder Jaan Tallinn.