Camping Gear Startup Bags $2.7M, Breaking Down Canva's Epic Story, and the 50-50 Signal for Identifying a Disruptive Med Device

Happy Thursday.

In today’s issue:

• Angel Deals of the Week | 107 Deals, 78 Networks

• Bookmarks I think you’ll enjoy

• The best nugget from my conversation with cardiac device entrepreneur and biomedical engineering professor Dr. John Criscione 

🔥 Angel Deals of the Week

Angel funding rounds announced in recent weeks, compiled from public sources. These deals represent the elite few that survived an angel network’s vetting process. Note: I have not personally analyzed these companies and am sharing for informational purposes only.

🤖 Deal summaries generated using dealmemo.ai.

📊 Angel Network Investment Tracker: 107 Deals, 78 Networks.

Hest | Outdoor sleeping gear for campers

Participating Group: Alliance of Angels

Hest is developing premium sleeping gear for car and tent campers. The company recently announced $2.7 million in funding with participation from Alliance of Angels, Ascend, Cascade Seed Fund, and other Seattle-area angel investors. Hest has experienced 50% sales growth this year and expects its first operating profit, driven by expanded product availability in all REI stores and a partnership with Rivian.

Aaron Ambuske | $2.7M Series A | Seattle, WA | Oct 2025 | Source

Apriority | AI for debt management

Participating Groups: Illini Angels, Valhalla Investment Network, Charlottesville Angel Network, Bridge Angel Investors

Apriority is developing an AI-powered debt management platform that monitors interest rates across all loan types, identifies refinance savings, and recommends payoff strategies. The company estimates that Americans carry $18 trillion in debt and often miss refinance opportunities that cost billions in excess interest. Apriority recently raised $2.3 million with participation from Techstars, Illini Angels, Valhalla Investment Network, Bridge Angel Investors, Charlottesville Angel Network, and Keiretsu to expand its borrower-first platform.

Tony Willcox | $2.3M Seed | San Francisco, CA | Oct 2025 | Source 1, Source 2

AiM Medical Robotics | MRI-Compatible Neurosurgical Robotics Platform

Participating Groups: New York Angels, Harvard Business School Alumni Angels, SWAN Impact Network, Angel Star Ventures, Keiretsu Forum

AiM Medical Robotics is developing an MRI-compatible robotic platform that enables neurosurgeons to perform procedures directly within an MRI scanner with real-time imaging. The system targets deep brain stimulation for Parkinson's disease and other cranial procedures in a $7.9 billion market. AiM recently closed an $8.1 million Series A led by IQ Capital and 1540 Ventures with participation from New York Angels, Harvard Business School Alumni Angels, SWAN Impact Network, and Angel Star Ventures to advance first-in-human clinical trials.

Dr. Gregory Fischer | $8.1M Series A | Worcester, MA | Sept 2025 | Source

📣 Have an Angel Deal to Announce?

🔖 Bookmarks

1. 📽️ The Canva Story: Lenny just dropped an awesome interview with Canva CEO Melanie Perkins where she shares how she built a $42B company with 240M users after 100+ investor rejections.

2. 📊 Tracking Angel Group Returns: Killer research from Rick Timmins with CTAN and the ACA continues to show 5-8 years is the sweet spot for exits, but few groups collect enough data to improve performance.

3. 🔄 Flywheels > Funnels: Great framework from Todd Gagne breaking down how Chewy turned condolence flowers into a $10B flywheel.

🥇 The Nugget: My Top Takeaway from A Conversation with Cardiac Device Expert Dr. John Criscione

Signal for a true medical device innovation: half the experts disagree ⚖️

“All the experts agree” is a rare statement.

And in the world of medical device entrepreneurship, those four words sound a whole lot like validation.

But founder and professor John Criscione argues this actually signals the new technology could be incremental, not disruptive.

His argument is that true breakthroughs tend to polarize expert opinions because they challenge the established way of thinking. If every expert a founder consults offers enthusiastic approval, “they're probably not taking enough risk.”

Takeaway: Next time a founder says "all the experts love our technology," ask a simple follow-up: "Who thinks you're wrong, and why?"

Great founders deeply understand the objections to their approach. If they can't articulate them, that's a signal the technology is likely incremental rather than disruptive.

Want more? Check out my full conversation with Dr. Criscione👇

Listen now on Apple Podcasts, Spotify, YouTube, and more.

Until Next Week 👋

Thanks for reading - have a great week.

-Andrew

P.S. If you enjoyed this post, could you do me a quick favor? Hit the "like" button or leave a comment with your thoughts. It may not seem like much, but it really helps me out a ton.

If you’re finding this newsletter valuable, share it with a friend, and consider subscribing if you haven’t already. You can also find me on LinkedIn and X.