Kaminari Medical

What Kaminari Medical does

Kaminari Medical B.V. is a Dutch medical device company developing a dual-modality intravascular imaging catheter that combines intravascular photoacoustics (IVPA) and intravascular ultrasound (IVUS) into a single catheter-based system. Founded in 2020 as a spin-off of Erasmus Medical Centre Rotterdam, the company targets interventional cardiologists and hospital cardiovascular centers performing percutaneous coronary interventions. Its value proposition centers on real-time visualization of both the structure (lumen dimensions) and composition (plaque characteristics) of coronary artery plaques, with a specific focus on identifying lipid-rich plaques prone to rupture. The clinical pain point being addressed is the 12% return rate among the 4 million patients annually assessed with intracoronary imaging due to underassessment of unstable plaque, with the company claiming potential to reduce re-intervention rates by 10-12% (claims pending clinical validation).

The company's flagship product is an imaging catheter integrating high-performance sensor hardware with advanced processing software. Proprietary deep-learning models are applied to reconstructed IVPA and IVUS images to detect and quantify atherosclerotic plaque, classifying the modality as predictive analytics over image data. The technology is patented, and the product is currently in prototype development with a first-in-human study in preparation at Erasmus MC Rotterdam under the clinical advisory of Prof. Joost Daemen. Products do not yet have CE or FDA clearance, and clinical investigations are pending to substantiate outcome claims. The team comprises approximately 9 specialists across CEO, CTO, CFO, COO, senior engineering, regulatory/QMS, and software functions, with founders holding senior positions at Erasmus MC and TU Delft.

Kaminari Medical is a pre-revenue company. Its intended revenue model is hardware sales of imaging systems and disposables to hospitals and medical centers through direct enterprise sales and channel partners (notably PhotonMed), with quote-based B2B medical device pricing expected. The company has raised approximately €4.3M cumulatively through a mix of grants (NWO Take-off Phase 1 and Phase 2, EIT Health Headstart, MIT-Haalbaarheid, RVO Innovation Credit) and equity (UNIIQ seed, NLC Momentum, and a €3.8M round in October 2024 from Graduate Entrepreneur, NLC Health Ventures, Libertatis Ergo Holding, Demcon Investment, and RVO). Investors NLC Health Ventures and Libertatis Ergo Holding hold Supervisory Board seats.

Name

Kaminari Medical

Legal name

Kaminari Medical B.V.

Website

https://kaminarimedical.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Kaminari Medical B.V. is a Rotterdam-based medical device company developing a dual-modality IVPA+IVUS imaging catheter that visualizes coronary plaque structure and composition in real time, targeting interventional cardiologists at hospitals performing percutaneous coronary interventions.

Ownership category

akta.pro rank

Product category

Intravascular Imaging / Cardiovascular Diagnostics

NAICS

Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Hemodynamic Monitoring & Cardiac Diagnostics (Cath Lab, FFR/IVUS/OCT) (HLAHAFAI)

akta.pro secondary industries

Interventional Cardiology (PCI/Structural Heart) (HLAKABAB), Cardiovascular / Cath Lab & Electrophysiology Centers (HLAFAIAI)

Keywords

• Intravascular imaging
• Photoacoustic imaging
• Coronary diagnostics
• Catheter imaging
• Vulnerable plaque detection

Headquarters

HQ city

Rotterdam

HQ country

Netherlands

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Medical Device Sales: Pre-revenue medical device company developing intravascular imaging catheters. Revenue will be generated through sales of imaging systems and disposables to healthcare providers and hospitals. Products do not have CE or FDA clearance yet.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Kaminari Medical develops a patented intravascular imaging catheter that combines intravascular ultrasound (IVUS) and intravascular photoacoustics (IVPA) to visualize both the structure and composition of coronary artery plaques in real time. The single catheter-based platform is designed for use by interventional cardiologists during percutaneous coronary interventions, with a particular focus on identifying lipid-rich, rupture-prone plaques to guide stenting and drug therapy decisions.

Product overview

Kaminari Medical offers a single unified intravascular imaging platform combining Intravascular PhotoAcoustics (IVPA) and Intravascular Ultrasound (IVUS) into one catheter-based system. The core technology enables real-time assessment of both vessel wall structure and plaque composition within coronary arteries, with a focus on identifying unstable lipid-rich plaques to guide treatment decisions during interventional cardiovascular procedures.

Differentiator

Problem solved

Functional benefit

Products and services

• Intravascular Ultrasound + Photoacoustic (IVPA) Imaging System A medical imaging catheter that combines intravascular photoacoustics (IVPA) and intravascular ultrasound (IVUS) in a single device to provide real-time visualization of coronary artery plaque structure and composition. It is intended for interventional cardiologists performing percutaneous coronary interventions, with a focus on identifying lipid-rich plaques at risk of rupture to guide stenting and drug therapy decisions.

Quantifiable outcome

• Potential to reduce re-intervention rates by 10-12%
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Erasmus Medical CentercoreStrategic or Co-development Partner · 1 October 2024Academic medical center spin-off partner. Prof. Ton van der Steen serves as head of Biomedical Engineering Research group. First-in-human study in preparation at Erasmus MC Rotterdam. Prof. Joost Daemen serves as Clinical Advisor on Advisory Board.
• PhotonMedminorChannel Partner/ Reseller/ DistributorPartner profile featured on Kaminari Medical website indicating channel/marketing partnership for market access.
• Techleap.nlminorOthersDutch technology and innovation ecosystem organization supporting academic startups through the Academic Startup Competition.
• MEDPHABminorImplementation/ SI/ Consulting PartnerMedical device development consulting partner supporting product development and regulatory pathways.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Infraredx (Nipro): Infraredx (now part of Nipro) commercializes the TVC Imaging System, a dual-modality IVUS + NIRS catheter that, like Kaminari's IVPA+IVUS, is designed to detect lipid-core plaque in coronary arteries. It is the most direct commercial competitor in composition-aware intracoronary imaging.

Broad incumbents

• Philips (Volcano): Philips Volcano is the market-leading IVUS franchise (iFR co-registration, Eagle Eye, Refinity), used pervasively in cath labs worldwide. It defines the standard Kaminari must displace and is a likely strategic acquirer of complementary composition-imaging technology.
• Boston Scientific: Boston Scientific sells the OptiCross and iLab IVUS systems, a major incumbent in coronary imaging. Its scale, salesforce, and PCI bundle strategy make it the primary competitive constraint on Kaminari's hospital sales motion.
• Abbott Vascular: Abbott markets the OPTIS/OCT and IVUS platforms and is a leading PCI device vendor. Its bundle of imaging, stents, and physiology products represents the integrated offering Kaminari will compete against for cath-lab budget and workflow.
• Terumo (Terumo Medical / Goodman): Terumo distributes optical coherence tomography (OCT) and other intracoronary imaging products in many markets, providing another incumbent modality competing for the same clinical use case Kaminari targets.
• Medtronic: Medtronic's coronary franchise includes guide catheters, stents, and a history of investment in IVUS-adjacent technology. It is a broad incumbent whose PCI bundling and distribution reach shape adoption dynamics for any new imaging modality.

Emerging players

• SpectraWAVE: SpectraWAVE develops a next-generation intravascular imaging platform combining NIRS and IVUS with AI-driven image analysis for plaque characterization. As a venture-backed challenger with overlapping composition-imaging claims, it is a close emerging-stage peer.
• Seno Medical Instruments: Seno Medical commercializes optoacoustic/photoacoustic imaging for breast cancer diagnosis. While not a coronary device, it is one of the few commercial-stage peers using photoacoustic imaging in clinical settings and is technically relevant to IVPA development.
• Acrostak: Acrostak is a Swiss developer of coronary intervention and imaging devices with niche IVUS-adjacent products. Comparable as a small European medtech peer targeting interventional cardiology customers.
• iVascular: iVascular is a European cardiovascular device company with coronary stent and imaging-adjacent product lines, comparable in scale and stage as a small European competitor pursuing interventional cardiology accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kaminari-medical

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kaminari Medical