Essenvia Raises $4M Pre-A Round Led by Wavemaker and BGV to Help MedTech Teams Supercharge Regulatory Submissions

"According to the FDA, 71% of regulatory submissions are rejected, costing manufacturers an estimated $1.8M in lost revenue for every 6-8 weeks in delay - the statistic holds true even for MedTech companies with less than 50 employees. "Essenvia is leveraging disruptive AI technologies with novel data sets to offer a verticalized solution that supercharges the work of MedTech regulatory professionals. "Regulatory affairs professionals are on an unsustainable path of doing more with less, faster, with a significant impact on a MedTech companys commercial goals," said Soumya Mahapatra, Essenvias Co-founder and CEO. Headquartered in Pasadena, CA, Wavemaker 360 is led by a cross-functional, bi-coastal team of eight visionary partners, with additional guidance from a distinguished Council of Strategic Advisors.BGV is a venture capital firm with deep Silicon Valley roots and an exclusive focus on global Enterprise 4.0 technology innovation. With offices in Palo Alto, Tel Aviv, Paris, and Mumbai, BGV has championed a cross-border venture investing model with a portfolio representing businesses in the US, Israel, Europe, and India.