WISE Closes €30 Million Series D to Fund Heron Spinal Cord Stimulation Lead

WISE S.p.A., a Milan-based maker of implantable electrodes for neuromonitoring, neuromodulation and brain-computer interfaces, said on June 17 that it had closed an oversubscribed Series D financing round totaling €30 million, in a release distributed by Business Wire, read via Yahoo Finance.

ENEA Tech and Biomedical, an Italian foundation focused on innovation and technology transfer in the biomedical sector, joined the company's investor base as a strategic partner, WISE said. The round is equivalent to about $34.8 million, as reported by Medical Device Network, via Yahoo Finance.

A round closed in two stages

The company said this final closing builds on a first closing of the round completed in June 2024. That first closing included a venture debt facility from the European Investment Bank supported by InvestEU, an equity investment from new investor Wallaby S.p.A., which WISE described as the family office of the Scagliarini family, and participation from existing financial partners New Frontier S.r.l., Eureka Venture SGR and Indaco Ventures SGR.

Medical Device Network reported that the first Series D raise in June 2024 was €25 million. WISE's release did not break out how much of the €30 million total came in the final closing or how much ENEA Tech and Biomedical committed.

Heron lead is the main use of funds

WISE said the primary use of the proceeds is to advance development and clinical adoption of the Heron lead, its flagship spinal cord stimulation product for chronic pain. The company said the lead is designed to deliver targeted, directional stimulation through a minimally invasive percutaneous implant technique, combining the precision of surgical paddle leads with the lower procedural burden of cylindrical leads. The funds will cover Heron's regulatory certification pathway and first-in-human study, the company said.

The round will also support expanded commercialization of the WISE Cortical Strip, an electrode for intraoperative neurophysiological monitoring during brain tumor and epilepsy surgeries. WISE said the strip holds a CE mark under the EU Medical Device Regulation as well as FDA clearance and is sold in Europe, the U.S. and Australia. Medical Device Network said the strip received FDA clearance in 2022 and its CE mark under the regulation in July 2025.

WISE said its devices are made with a proprietary technology that integrates stretchable electronic circuits into ultra-thin elastomeric foils.

"This financing gives us the resources to complete the journey from bench to bedside," said Luca Ravagnan, WISE's chief executive officer, adding that with Heron the company is "targeting a multi-billion-euro market."

The closing also brought governance changes. Laura Iris Ferro, founder of Gentium, was appointed chairperson, and Giuseppe Corvino joined the board of directors, the company said.

Spinal cord stimulation is an established and competitive market. Citing GlobalData analysis, Medical Device Network reported that Medtronic held the largest share of the U.S. rechargeable spinal cord stimulation market in 2025, at 29.8%.