French MedTech company FineHeart, which develops advanced cardiovascular implantable devices, has secured a total of €83 million in funding through a combination of equity financing and European public grants.
The company recently completed the first close of its Series C round, raising €35 million from a group of institutional and strategic investors, while also securing substantial non-dilutive support through a major EU programme.
Series C first close and investor backing
The €35 million Series C first closing included participation from Groupe Pasteur Mutualité, Groupe Etchart, and the European Innovation Council via its EIB-backed fund. Existing shareholders FH Founders, Lurra, IRDI, Groupe Doliam, and NACO also reinvested in the round.
In parallel, FineHeart was awarded €48 million in grants under the IPCEI Tech4Cure programme, bringing total funding secured to date to €83 million. The IPCEI support positions FineHeart as a lead industrial partner in strengthening Europe’s Active Implantable Medical Devices ecosystem.
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Building Europe’s cardiovascular device capabilities
Founded in 2010 by Arnaud Mascarell alongside leading cardiac specialists and device innovators, FineHeart is developing technologies aimed at improving outcomes for patients with advanced heart failure. The company operates across Bordeaux and Tours and focuses on implantable systems designed to work in harmony with natural cardiac function.
According to CEO Arnaud Mascarell, the combined equity and public funding supports FineHeart’s goal of developing predictive, personalised and preventive cardiovascular therapies while reinforcing European healthcare sovereignty and industrial competitiveness.
FlowMaker and a new approach to heart failure support
FineHeart’s lead product, FlowMaker®, is positioned as the world’s first fully implantable cardiac output accelerator. The device is designed to support patients with severe heart failure who are not eligible for traditional left ventricular assist devices.
Unlike conventional assist systems, FlowMaker® is fully intraventricular and synchronises with the heart’s natural contractions, supporting physiological blood flow without bypassing the aorta. The system operates without external power lines, instead using a transcutaneous energy transfer solution for recharging, which significantly reduces infection risk and improves daily quality of life.
The device is implanted via a minimally invasive beating-heart procedure, typically completed in around 90 minutes, making it suitable for a broader patient population.
Strategic role within the IPCEI Tech4Cure programme
In mid-2025, FineHeart was designated lead partner of the IPCEI Tech4Cure initiative, a European Commission–approved programme notified by six EU member states. The project supports the development of next-generation medical devices, including the integration of digital and AI-driven capabilities across the cardiovascular implant value chain.
FineHeart holds a substantial intellectual property portfolio, with more than 160 patents across 27 patent families, reinforcing its long-term positioning in implantable cardiac technologies.
Next steps and market ambition
With funding now in place, FineHeart plans to continue clinical development, advance industrialisation and expand its role within Europe’s medical device manufacturing landscape. The company targets patients with advanced heart failure who currently lack effective long-term treatment options, representing a multi-billion-euro global market.
About FineHeart
FineHeart is a French clinical-stage medical device company developing implantable solutions for advanced heart failure. Its flagship technology, FlowMaker®, is designed to restore physiological cardiac output in patients not served by existing assist devices, addressing a significant unmet need in cardiovascular care across Europe and beyond.
