Funding profile · Venous disease devices

InnoVein

Two Regulation D offerings five years apart, $13.3 million sold, and a 2023 round that stopped at about a fifth of its target. The filings, not the announcements, are the only continuous record of this company.

$13.3MSold across all Form D filings, 2018 and 2023
$10.7MSold in the 2018 round, from 66 investors
$2.5MSold of $11.9M offered in the 2023 round
$1.60MNSF SBIR awards, non dilutive

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2016 Y Combinator, Winter 2016 Not disclosed Y Combinator YC directory
By Dec 2017 Seed round, reported Not disclosed Not named Independent
Jun to Oct 2018 Equity, Rule 506(b) $11,021,585 offered, $10,748,933 sold 66, all accredited Form D and D/A
2017 to 2023 Federal grants $1,596,596 NSF SBIR Phase I and Phase II NSF
Jan 2023 onward Equity, Rule 506(b) $11,923,800 offered, $2,545,164 sold 7, all accredited Form D
Nov 2020 Total raised, as reported by a tracker $6.7M Not named Differs from filings

What the filings show

Innovein, Inc. · Form D · filed Jul 3, 2018

First sale
Jun 15, 2018
Offered
$8,021,623 equity
Sold
$6,535,535 · $1,486,088 remaining
Investors
55 · average about $118,800 · no non-accredited investors
Exemption
Rule 506(b)
Related persons
Austin Walker (executive officer, director); Thomas A. Kramer (executive officer); Albert K. Chin (executive officer, director)
Address
1100 Industrial Road, Suite 16, San Carlos, CA
Filing
SEC EDGAR, CIK 0001745398

Innovein, Inc. · Form D/A · filed Oct 10, 2018

Amends
The Jul 3, 2018 filing
Offered
$11,021,585 equity
Sold
$10,748,933 · $272,652 remaining
Investors
66 · average about $162,900
Exemption
Rule 506(b)
Related persons
Unchanged: Walker, Kramer, Chin
Filing
SEC EDGAR, CIK 0001745398

Innovein, Inc. · Form D · filed Feb 6, 2023

First sale
Jan 25, 2023
Offered
$11,923,800 equity
Sold
$2,545,164 · $9,378,636 remaining
Investors
7 · average about $363,600
Exemption
Rule 506(b)
Related persons
David Hovda (executive officer, director); Austin Walker (director); Albert K. Chin (director); Robert Whirley (director)
Address
1745 Copperhill Parkway, Suite 7, Santa Rosa, CA
Filing
SEC EDGAR, CIK 0001745398

InnoVein LLC · Form D · filed Jun 29, 2026 · a different registrant

Entity
Nevada limited liability company, Melbourne, FL
First sale
Jun 2, 2026
Security
Option to acquire, not equity
Offered
$700,000 · $375,000 sold
Investors
6 · average $62,500 · minimum investment $25,000
Related persons
Thomas Harold Pierce (executive officer, promoter)
Filing
SEC EDGAR, CIK 0002141285

Reading the filings

  1. The 2018 round filled, and then some.July: $8,021,623 offered, $6,535,535 sold from 55 investors, about $118,800 each. October: the offering had been raised to $11,021,585 and $10,748,933 was sold from 66. The 11 investors who came in between put up $4,213,398, roughly $383,000 apiece. That is a round that got bigger because demand was there.
  2. The 2023 round did not fill.$2,545,164 of $11,923,800, about 21 percent, from 7 investors averaging about $363,600. $9,378,636 was left unsold and no amendment has been filed in the three and a half years since.
  3. The board turned over with the money.In 2018 Walker and Chin were executive officers and directors and Kramer was an executive officer. By 2023 Walker and Chin are directors only, Kramer is off the filing, David Hovda is the sole executive officer, and Robert Whirley has joined as a director. The registered address moved from San Carlos to Santa Rosa in the same interval.
  4. About eleven percent of the capital is non dilutive.$1,596,596 of the $14,890,693 visible in public records came from two NSF SBIR awards rather than from investors. The Phase II award ran to March 31, 2023, which is within weeks of the last equity filing.
  5. One published total does not match the filings.A startup tracker wrote in November 2020 that “To-date, the company has raised $6.7M.” The October 2018 Form D/A already reported $10,748,933 sold. Form D reports amounts sold as of the filing date and is signed by the issuer, so it is the stronger record.
  6. The 2026 filing under a similar name is a different company.InnoVein LLC is a Nevada limited liability company in Melbourne, Florida, selling options rather than equity, with one named person, Thomas Harold Pierce. No name, address, state of incorporation or CIK overlaps with Innovein, Inc. of Delaware. It should not be counted as a new round here.

Commercial signals

Signal Detail Source type
Regulatory No FDA 510(k), premarket approval, investigational device exemption or breakthrough designation on record. Public record
Clinical NCT04253301, estimated enrollment 5, three Australian sites. Registry last posted Sep 17, 2021 and still reads RECRUITING. Public record
Revenue Every Form D answers Decline to Disclose in the revenue range field. Public record
Intellectual property Three granted US patents assigned to Innovein, Inc., plus published US and European applications. Public record
Status Y Combinator lists the company as Inactive. A startup tracker lists 2 employees as of May 2026 and $13.4M raised, close to the $13.29M in the filings. Listing

What to watch

  • An amended or new Form D for the 2023 offering. $9,378,636 of it remains unsold.
  • Any assignment or sale of the three granted patents.
  • Any update to NCT04253301, frozen since September 2021 with a listed completion date of January 2027.
  • Whether anyone raises against this asset again after the FDA sent a not approvable letter for a competing venous valve in August 2025.

The InnoVein story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Selera Medical: Also in Medical Devices. A two person startup that set out to break the fluid overload cycle in heart failure with one stent at the junction where the lymphatic system drains into the veins
  • Standard Cyborg: Also in Medical Devices. A Y Combinator startup that printed shower legs for amputees, became the software prosthetists used to design sockets, then became a computer vision SDK
  • Corveus Medical: Also in Medical Devices. A Houston company building a catheter that deactivates one sympathetic nerve to relieve congestion in heart failure
  • Vena Vitals: Also in Medical Devices. A soft sticker, built on wrinkled metal from a UC Irvine lab, that reads blood pressure beat by beat

Sources

  1. Public recordForm D, Innovein, Inc.SEC · Jul 3, 2018
  2. Public recordForm D/A, Innovein, Inc.SEC · Oct 10, 2018
  3. Public recordForm D, Innovein, Inc.SEC · Feb 6, 2023
  4. Public recordForm D, InnoVein LLC, CIK 0002141285SEC · Jun 29, 2026
  5. Public recordNSF SBIR awards 1722221 and 1927074National Science Foundation
  6. Public recordClinicalTrials.gov NCT04253301Last update posted Sep 17, 2021
  7. Public recordPatents assigned to Innovein, Inc.USPTO, via Justia and Google Patents
  8. IndependentInnovein Medical On The MoveBay Area NSF Innovation Corps · Dec 13, 2017
  9. IndependentMedtech Startups: Venari Medical, Companion Medical, InnoVeinLife Science Intelligence · Nov 3, 2020
  10. IndependentFDA Issues Not-Approvable Letter for enVVeno’s VenoValve for CVIEndovascular Today · Aug 20, 2025
  11. CompanyInnoVein company page, batch and statusY Combinator · accessed Sep 23, 2026
  12. ListingInnoVein company profile, funding total and employee countTracxn · accessed Sep 23, 2026

Compiled from SEC, NSF, USPTO and ClinicalTrials.gov public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in InnoVein. This page is not an offer to sell or a recommendation to buy any security.