Nervonik Raises $13 Million in Series A Financing to Advance Next-Generation Peripheral Nerve Stimulation for Chronic Pain Relief

LOS ANGELES, March 4, 2025 /PRNewswire/ -- Nervonik, Inc. (Nervonik), a medical device company developing an opioid-free peripheral nerve stimulation (PNS) system, has successfully closed a $13 million Series A funding round. The round was led by U.S. Venture Partners (USVP), with participation from Foothill Ventures, Correlation Ventures, and other investors. This funding follows Nervonik's earlier $4.4 million in SAFE and convertible note financings from Shangbay Capital, Camford Capital, Joyance Partners, Life Science Angels, Seraph Group, and other investors.

The proceeds from this financing will be used to advance Nervonik's clinical studies, accelerate regulatory clearance, and prepare for commercialization efforts aimed at transforming chronic pain treatment.

Nervonik recently completed its first-in-human clinical study, demonstrating the potential of its PNS technology to transform chronic pain treatment. Nervonik's proprietary wirelessly powered PNS technology delivers minimally invasive, patient-friendly therapy for personalized pain relief.

"We are excited to receive this strong support from top institutional investors as we push forward in advancing peripheral nerve stimulation technology," said Aydin Babakhani, PhD, founder and CEO of Nervonik. "This financing advances our mission to bring a novel solution to millions of people suffering from chronic pain."

With chronic pain affecting over 50 million people in the U.S. alone, Nervonik's opioid-free PNS technology will offer a compelling alternative to traditional pain management methods, targeting a multibillion-dollar market opportunity.

About Nervonik
Nervonik is a medical device company developing cutting-edge peripheral nerve stimulation (PNS) solutions to treat chronic pain. Leveraging advanced, proprietary, wireless power, and closed-loop sensing technologies, Nervonik is committed to providing minimally invasive, effective, and patient-centric treatment options. Nervonik is focused on advancing clinical research and achieving regulatory milestones to bring its innovative therapies to market. For more information, visit www.nervonik.com.

About U.S. Venture Partners (USVP)
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 500 companies spanning four decades, including: Box, Cato Networks, Edgewise, Epsagon, Happy Returns, HotelTonight, Human Interest, Imperva, Inari Medical, Inspire Medical Systems, Intersect ENT, Kenna, Medigate, MeetMe, Omada Health, Pluto TV, Primary, Smartling, Supplyframe, Standard Bariatrics, ThreatMetrix, Trunk Club, Trusteer and Yammer. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California.. For more information, visit www.usvp.com.

SOURCE Nervonik Inc.