Electronics Startup Eargo Secures $45 Million

Eargo closed $45 million in Series C financing led by Nan Fung Life Sciences, with participation from New Enterprise Associates and Maveron.

Eargo has created a hearing aid product that fits discreetly inside the ear canal so it’s nearly invisible. The device’s patented “Flexi Fibers” hold it in place and allow it to float inside the earlets, as well as permit some ambient low (bass) sounds to pass through, so only high (treble) sounds need to be amplified. Flexi Fibers are made from medical grade silicone, one of the softest, most biocompatible materials ever invented. Eargo sells for $1,999 per unit.

The new funds will be used to accelerate Eargo’s product innovation, marketing, and branding initiatives.