Bioelectronic Medicine Secures $15M, Angel Group Applications Spike 30%, and Why Sniffing Out the "Desperation" Raise is so Important

Happy Thursday.

Here are your angel deals of the week, some bookmarks I think you’ll enjoy, and the best nugget from my conversation with Seren Rumjancevs, CEO of Dealum.

🔥 Angel Deals of the Week

🤝 Recent funding rounds from angel networks. I have not personally vetted these deals and am sharing for informational purposes only. Have one to announce? Reply to this email.

🤖 Deal summaries generated using dealmemo.ai.

🧾 Check out every deal we’ve tracked here.

Vinaver Medical | Oncology diagnostic software development

Participating Group: DSI Business Angel Network

Vinaver Medical is developing AI-powered software for enhancing medical diagnostics and therapy planning in oncology using spectral CT technology. The software extracts precise tissue density and composition information from CT scans, enabling more accurate radiotherapy planning, and is compatible with existing systems regardless of manufacturer. The startup secured investment from the Digital Serbia Initiative's business angel network to support patent protection, ISO standards implementation, and FDA 510(k) certification while the product is already being tested in clinics across Serbia, the US, and EU markets.

Stevan Vrbaski | Seed Round | Belgrade, Serbia | May 2025 | Source

Spark Biomedical | Wearable bioelectronic medicine

Participating Group: Aggie Angel Network

Spark Biomedical is developing wearable neurostimulation technology that delivers targeted relief without invasive procedures or pharmaceuticals. The company's technology stimulates vagus and trigeminal nerves to address conditions across neurological health, hemostasis, and women's health. Spark recently secured $15M in Series A funding led by WAVE Ventures with participation from Pathway to Cures and the Aggie Angel Network. Funds will accelerate development of their bioelectronic treatments as they address unmet clinical needs in the medical device market.

Daniel Powell | $15M Series A | Dallas, TX | April 2025 | Direct Communication + Source

Vanik | Wholesale brand retention platform

Participating Group: TBD Angels

Vanik is developing a platform that enables brands selling through wholesale channels to implement direct-to-consumer style retention experiences for their retailers. The company secured $750,000 in pre-seed funding with participation from TBD Angels. The solution aims to help brands save time and increase revenue in their retailer relationships by providing smarter retention tools.

Dan Cohen | $750,000 Pre-seed | Boston, MA | February 2025 | Direct Communication + Source

🔖 Bookmarks

1. My favorite read from the week: The State of Startup Media from Kyle Harrison with Investing 101. So fun to see the ecosystem broken down in one piece like this. 📚

2. Valuations do vary based on geography, but less than I expected. Great insights from Peter Walker and the Carta team. 🌎

3. Breaking down the “real” cost of churn with OnlyCFO. 🔍

In partnership with the Angel Capital Association

If you want to connect with experienced angel investors, stay ahead of trends, and tap into a wealth of resources, the Angel Capital Association (ACA) is the place to be. With 15,000+ members and $650M+ invested annually, ACA brings together the best minds in angel investing.

From Angel University’s practical education to the annual ACA Summit and exclusive reports, ACA equips members with the tools and connections to make smarter decisions. I’ve really enjoyed being part of this community, and I highly recommend it to anyone serious about angel investing.

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🥇 The Nugget: My Top Takeaway from This Week’s Conversation with Seren Rumjancevs

Angel group applications spiked 30% in Q4 2024 despite wider seed funding drought 📈

In Q4 2024, Dealum's platform saw a 30% surge in startup funding applications despite what Crunchbase reports as "the lowest seed funding total in years."

This divergent trend suggests there are more founders competing for a smaller pool of angel-stage capital, with investors becoming increasingly selective.

Takeaway: When evaluating deals in this crowded landscape, be very intentional about distinguishing between “desperation raises” and strategic ones.

Ask:

• Has the team been efficient with their runway so far?

• Are they raising with momentum or merely to survive?

• Can the team articulate exactly how this capital accelerates growth?

Be picky - now more than ever.

Want more? Check out my full conversation with Seren 👇

🎙️ Latest Episode

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

🧰 Toolkit

📚 Angel Network 101: Thinking about starting an angel group? Read this. Fantastic free resource courtesy of the Angel Capital Association to help new operators get up and going.

🔍 Discover Cool Startups: Product Hunt can help angels discover promising new startups and innovative tech products early - before they become mainstream.

⚙️ Level Up: Give your angel group a professional upgrade with PitchFact's managed operations service. They handle deal flow, diligence coordination, member communications, platform management and more - freeing you up to focus on what matters most. Learn more.*

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Until Next Week 👋

Thanks for reading - have a great week.

-Andrew

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