Auckland-based MedTech start-up Avasa has secured the first close of its Pre-Series-A capital raise

MIAMI and AUCKLAND, New Zealand, Aug. 26, 2025 /PRNewswire/ --  The round was led by Movac, one of New Zealand's largest and longest-standing venture capital funds. It also drew strong participation from existing investors, including Bridgewest Ventures, which led Avasa's seed round, and several new backers. The round was significantly oversubscribed and is expected to close at NZD$4.75 million.

Founded by clinician-bioengineer Dr. Nandoun Abeysekera, Avasa is transforming reconstructive microsurgery. Its category-defining device, the Avasa Coupler, addresses a critical unmet need by enabling safe, fast, and standardized reconnection of micro-arteries. This procedure has long required surgeons to hand-sew small arteries under a microscope, a complex and time-consuming process. 

"This is a huge milestone for Avasa," commented Abeysekera, CEO and Founder. "After seven years of relentless R&D, we've reached design freeze for the Coupler and built our pre-production units, which have shown 100% success in chronic animal studies. In addition to my own experience as a plastics resident, 89% of the 100+ microsurgeons we interviewed expressed strong clinical demand for our solution. We're laser-focused on getting it into their hands, and this capital will take us through FDA clearance and into the market in the next 18 months."

The round's lead investor, Movac, noted that Avasa was a clear fit for investment from its Emerge Fund. "With Nandoun having been a practicing surgeon, it was immediately obvious that he has intimate experience with the problems the Avasa Coupler addresses. He has built an impressive team, surrounded the business with world-class advisors, and the product they've developed is an elegant and IP-rich solution that addresses a clear pain point within a large but underserved market. We're excited to be joining Avasa on their journey," said Senior Investment Manager, Byron van Vugt.

Existing Investor, Bridgewest Ventures, first invested in Avasa in 2022. "We are immensely proud to have supported Nandoun and his team in reaching this pivotal milestone, with the Avasa Coupler poised to revolutionize the field. As Avasa takes its final steps toward FDA clearance and market entry, we're energized by the opportunity to partner with Movac, whose leadership in this round has been invaluable," said Saum Vahdat, CEO, Bridgewest Ventures.

Having secured the funding needed to progress through its FDA application, Avasa is now focused on completing the verification testing of its Coupler and is looking forward to its commercial launch. To help build its go-to-market strategy, Avasa recently recruited a senior commercial executive from Fisher & Paykel Healthcare. "Our technology is set to become the new standard for microvascular connections and will help make microsurgery safer, faster, and more accessible worldwide," said Abeysekera.

About Avasa:

Avasa is a New Zealand-based medical device start-up developing solutions for reconstructive microsurgery. Founded in 2018, the company is nearing the launch of its first product, the Avasa Coupler, which standardizes and simplifies the process of Arterial reconnections.

About Movac: 

Movac is New Zealand's most experienced and successful venture capital firm, with over 25 years of backing Kiwi entrepreneurs. As the country's largest and longest-standing VC, Movac has raised $690m across eight funds, consistently delivering top-tier global returns. Movac's portfolio includes many of New Zealand's most exciting high-growth companies, such as Trade Me, Vend, Timely, Aroa Biosurgery, Tradify, Crimson Education, Auror and Dawn Aerospace. The firm is currently investing from Growth Fund 6, Emerge Fund 4, and the new Growth Opportunity Fund, supporting ambitious founders to scale globally and generate long-term impact for New Zealand.

About Bridgewest Group:

Bridgewest Group is an innovative and privately held global investment firm with over $3B in private capital. Founded in 1999, the global firm has earned a long-standing reputation for creating and scaling transformational businesses to achieve outsized success. Bridgewest Group leverages its expertise and global eco-community in key sectors where it can have the greatest impact including Life Sciences, Software, Semiconductor and Artificial Intelligence/Deep Tech. Customized financial investment services and diverse real estate holdings augment equity assets and support portfolio companies as they grow. Bridgewest Group is based in the US, with investments primarily in the US, Europe, China, Australasia and India.

Media Contact:

New Zealand - -  Dr. Nandoun Abeysekera, [email protected]

SOURCE Avasa