About Foldax
Foldax is a Healthcare company based in Salt Lake City (United States) founded in 2006 by Mory Gharib and Frank Maguire. It operates as a developer of bio-polymeric heart valves to treat aortic, mitral, and tricuspid valve diseases. Foldax has raised $43.74 million across 13 funding rounds from investors including Caltech, MemorialCare Innovation Fund and Kairos Ventures. The company has 1 employees. Its chief executive is Frank Maguire. Its Indian entity Foldax India Private Limited reported revenue of ₹7.73 Cr. Foldax offers products and services including TRIA Heart Valves and LifePolymer Material. Its focus areas include Life Sciences, Cardiac and Vascular Disorders, Medical Devices and Therapeutic Devices. Its competitors include Shockwave Medical, Venus MedTech, Cardiac Dimensions, Pi-Cardia and Peijia Medical Technologies and 5 more; 9 of its 10 listed competitors have raised funding.
Company details
Foldax was established in 2006 in Salt Lake City, United States, within the medical device sector. Bio-polymeric heart valves are created to address aortic, mitral, and tricuspid valve conditions. LifePolymer, a biopolymer material, is incorporated into transcatheter devices for these interventions. Operations center on research and development of durable valve replacements, targeting cardiovascular treatments in a regulated industry.
- Headquarters Salt Lake City, United States
- Employees 1
- Founders Mory Gharib, Frank Maguire
- SectorsHealthcare
- Website foldax.com
- Social LinkedIn X Facebook
- Legal Name Foldax India Private Limited
- Date of Incorporation 15 Sep, 2020
- Jurisdiction Goa, India
- Annual Revenue₹7.73 Cr
FY 2024 · +108% YoY
- Net Profit₹91.7 Lakh
FY 2024 · 12% margin
- EBITDA₹1.35 Cr
FY 2024 · 18% margin
- Total Equity Funding$43.74M (USD)
in 13 rounds
- Latest Funding Round$7M (USD), Series D
Oct 2023
- InvestorsCaltech
& 3 more
- Employee Count1
Associated legal entities of Foldax
Foldax operates through Foldax India Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Foldax India Private Limited CIN U33119GA2020PTC014494 | Active | 15 Sep 2020 | – | ₹7.7 Cr | – | 4 | View details |
Products & Services of Foldax
Foldax offers a comprehensive portfolio of products and services, including TRIA Heart Valves and LifePolymer Material.
Polymer-based valves for surgical and transcatheter use in heart therapy.
Proprietary polymer for durable heart valve construction and applications.
Funding Insights of Foldax
Foldax has successfully raised a total of $43.74M across 13 strategic funding rounds. The most recent funding activity was a Series D round of $7 million completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $43.74M
- Total Rounds 13
- Last Round Series D — $7M
- First Round $15,000
(Mar 2014)
- Investors Count 4
Latest 10 of 13 funding rounds of Foldax with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2023 | $7M | Series D | – | – | – |
| Jun 2020 | $20M | Series D | – | MemorialCare Innovation Fund | |
| Dec 2018 | $10.3M | Series B | – | – | – |
| Apr 2017 | $300,000 | Series A | – | – | – |
| Apr 2017 | – | Debt – Conventional | – | – | – |
| Jul 2016 | $3.08M | Series A | – | – | – |
| Sep 2015 | $2.5M | Series A | – | – | – |
| Jun 2015 | – | Debt – Conventional | – | – | – |
| Jun 2015 | $350,000 | Seed | – | – | – |
| Aug 2014 | $50,000 | Seed | – | – | – |
4 investors in total: 4 institutional.
Investors in Foldax
Foldax has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Caltech, MemorialCare Innovation Fund and Kairos Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early & Growth stage life sciences & tech focused VC firm investing primarily in the US | – | memorialcareinnovationfund.com | Long Beach, United States | |
Venture capital firm focused on life sciences, physical sciences, and technology companies | – | kairosventures.com | Beverly Hills, United States | |
Healthtech startups are funded by BioStar Capital's venture capital efforts. | – | biostarcapital.com | Charlevoix, United States | |
Higher education and research in science and engineering are offered. | 1891 | caltech.edu | United States |
Investor details for Foldax
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Board of directors of Foldax India Private Limited (Foldax)
Foldax India Private Limited is the primary company behind Foldax. The board of Foldax India Private Limited currently have 4 directors; the longest-serving is Laxmikant Gunanath Khanolkar, appointed in 2020. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Laxmikant Gunanath Khanolkar DIN 01225911 | Director | 15 Sep 2020 | 6 yrs 1 mo | Foldax India Private Limited |
| Kenneth Arthur Charhut DIN 09036759 | Director | 20 Jan 2021 | 5 yrs 8 mo | Foldax India Private Limited |
| Sean Michael Brady DIN 09036756 | Director | 20 Jan 2021 | 5 yrs 8 mo | Foldax India Private Limited |
| Sanjay Baliram Rane DIN 03606292 | Director | 12 Oct 2021 | 5 yrs | Foldax India Private Limited |
People of Foldax
28 people are tracked at Foldax (7 in leadership, 12 in board & advisors, 9 in team); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
Mory Gharib | Co-Founder | Leadership |
Frank Maguire | Co-Founder & CEO | Leadership |
Michele Lucey | VP, Regulatory & Quality | Leadership |
Avi Sharma | VP, Clinical Programs | Leadership |
Gregory D. Casciaro | Chief Executive Officer | Leadership |
Ryan Stanfield | VP, Engineering & Operations | Leadership |
Amy Scott | Chief Marketing Officer | Leadership |
David Grainger | Scientific Advisory Board Member | Board & advisors |
James Runt | Scientific Advisory Board Member | Board & advisors |
Simon McCarthy | Scientific Advisory Board Member | Board & advisors |
Thilak Gunatillake | Scientific Advisory Board Member | Board & advisors |
Ajit Yoganathan | Scientific Advisory Board Member | Board & advisors |
Chris Jenney | Scientific Advisory Board Member | Board & advisors |
Ajay Padsalgikar | Scientific Advisory Board Member | Board & advisors |
Frank Shannon | Medical Advisory Board Member | Board & advisors |
Steven Yakubov | Medical Advisory Board Member | Board & advisors |
Ray Matthews | Medical Advisory Board Member | Board & advisors |
Martin B. Leon | Medical Advisory Board Member | Board & advisors |
Geoffrey A. Answini | Medical Advisory Board Member | Board & advisors |
Kathi Guiney | HR Advisor | Team |
8 more people are available in the full profile.
Complete people profiles for Foldax
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Financials of Foldax
Figures of Foldax India Private Limited, the primary company behind Foldax, for FY 2024. Revenue was ₹7.73 Cr (+108% year on year). Net profit was ₹91.7 Lakh (12% margin). EBITDA was ₹1.35 Cr (18% margin). Revenue has grown at a compounded annual rate of +170% over three years.
- ₹7.73 CrRevenue · FY 2024 · +108% YoY
- ₹91.7 LakhNet profit · 12% margin
- ₹1.35 CrEBITDA · 18% margin
- ₹1 LakhPaid-up capital
- +170%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Foldax India Private Limited are on its company page.
Detailed financial statements for Foldax
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Timeline of Foldax
3 dated milestones of Foldax across 17 years, from founding to its latest funding, stage changes and deals.
- Founded Foldax is founded.
- Funding First funding round of $15K.
- Funding Latest funding round, Series D, of $7.0M.
Competitors of Foldax
Foldax has 10 listed competitors in our database, 9 of them funded. They include Shockwave Medical, Venus MedTech, Cardiac Dimensions, Pi-Cardia and Peijia Medical Technologies, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| shockwavemedical.com | 2009 | Santa Clara, United States | $147.5M | 1,394 | Cardiovascular balloon dilation catheters with lithotripsy electrodes are developed. | |
| venusmedtech.com | 2009 | Hangzhou, China | $37M | – | Transcatheter aortic and pulmonic valves are developed for cardiovascular procedures. | |
| cardiacdimensions.com | 2001 | Kirkland, United States | $260.8M | 31 | Invasive cardiac implants for heart failure treatment are developed. | |
| pi-cardia.net | 2009 | Rehovot, Israel | $40M | – | Non-implant devices for cardiac valve repair are developed and manufactured. | |
| peijiamedical.com | 2012 | Suzhou, China | $110.08M | – | Medical devices for cardiac and cerebrovascular treatments are developed. | |
| cardioflowmedtech.com | 2015 | Pudong, China | $132.02M | – | Smart medical devices for heart valve diseases are developed. | |
| tricares.com | 2013 | Aschheim, Germany | $102.84M | – | Minimally invasive tricuspid valve replacement system is developed. | |
| jenavalve.com | 2006 | Irvine, United States | $363.7M | 198 | Pericardial transcatheter aortic valve replacement systems are provided. | |
| capstanmedical.com | 2020 | Santa Cruz, United States | $141.4M | – | Medical devices for structural heart disease treatment are developed. | |
| anteristech.com | 2011 | Brisbane, Australia | – | 27 | Technologies for heart valve development are provided. |
Detailed competitors of Foldax
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Web traffic of Foldax
The website of Foldax (foldax.com) receives about 1.7K visits a month.
- Monthly visits1.7K
▼ 1.2% vs previous month
Top companies in Cardiac and Vascular Disorders
10 companies that operate in the same segment as Foldax (Cardiac and Vascular Disorders), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Connected devices for health, sleep, and activity monitoring are developed. | 2008 | Moulineaux, Seine-maritime, France | USD 93.83 M | – | – | |
SMT is recognized as a developer of cardiovascular medical devices. | 1998 | Surat, Gujarat, India | – | USD 106.25 M | 1,090 | |
Gene-editing therapies for coronary artery disease are developed. | 2018 | Cambridge, Massachusetts, United States | USD 215.5 M | – | 255 | |
Cardiac monitoring devices and applications are provided for heart health. | 2010 | Mountain View, California, United States | USD 114.38 M | USD 6.18 M | 67 | |
Therapies for lowering low-density lipoprotein cholesterol levels are developed. | 1998 | Ann Arbor, Michigan, United States | USD 129.7 M | USD 332.31 M | 304 | |
Cloud-based ambulatory ECG monitors for cardiac arrhythmia diagnosis are provided. | 2006 | San Francisco, California, United States | USD 109.23 M | USD 747.14 M | 2,000 | |
Provider of neuroprotection devices for carotid artery disease | 2007 | Sunnyvale, California, United States | USD 241.8 M | – | – | |
Miniaturized wireless implantable sensors are developed for hemodynamic monitoring. | 2007 | East Peoria, Illinois, United States | USD 154.77 M | – | 104 | |
Access catheters for neurovascular stroke treatment are provided. | 2015 | Campbell, California, United States | USD 596 M | – | – | |
Biosensor patches are developed for monitoring multiple body vitals. | 2011 | Campbell, California, United States | USD 239.95 M | – | 184 |
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Frequently Asked Questions about Foldax
Foldax was founded in 2006 and raised its 1st funding round 8 years after it was founded.
Foldax is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
Frank Maguire is the current CEO of Foldax. They have also founded this company.
Foldax is a funded company, having raised a total of $43.74M across 13 funding rounds to date. The company's 1st funding round was a Seed of $50K, raised on Mar 2014.
Foldax has 1 employees.
The primary company behind Foldax, Foldax India Private Limited, reported revenue of ₹7.73 Cr for FY 2024, up 108% year on year.
Foldax was established in 2006 in Salt Lake City, United States, within the medical device sector. Bio-polymeric heart valves are created to address aortic, mitral, and tricuspid valve conditions. LifePolymer, a biopolymer material, is incorporated into transcatheter devices for these interventions. Operations center on research and development of durable valve replacements, targeting cardiovascular treatments in a regulated industry.
Foldax's top competitors include Shockwave Medical, Cardiac Dimensions and JenaValve Technology.
Foldax offers TRIA Heart Valves and LifePolymer Material.
Foldax has 4 investors. Key investors include Caltech, MemorialCare Innovation Fund, Kairos Ventures, and BioStar Capital.
Foldax operates through Foldax India Private Limited.
The legal entities of Foldax currently have 4 directors, including Sanjay Baliram Rane, Laxmikant Gunanath Khanolkar, Kenneth Arthur Charhut and others.