Y Combinator on LinkedIn · May 2024
YC said NearWave had sold 4 systems, generated $123k in revenue, had multiple patents awarded in 2024, and had FDA agreement on its 510(k) approach.
Helping physicians select the right therapy for breast cancer patients
Company research
Public company, workplace, funding, and market signals
Updated Jul 29, 2026
Overview
NearWave is a medtech hardware startup developing the NearWave Scanner, a handheld fdNIRS imaging device that noninvasively maps deep-tissue biomarkers to help clinicians and researchers assess breast cancer therapy response; the product is currently an investigational/research-use device.
Primary product
NearWave Scanner
Founded
2020
Headquarters
South Bend, Indiana, United States
Team size
1-10
Industry
Appliances, Electrical, and Electronics Manufacturing
Sub-industry
Medical Devices
Offices
South Bend, Indiana, United States
Business model
B2B hardware/device sales
Research/investigational device sales
Clinical research partnerships
Funding
Stage
pre-seed
Total raised
$1.4M
Latest round
Non-equity assistance / accelerator · Jul 2024
Accelerator / non-equity assistance
Jul 2024 · HealthTech|X Accelerator
Jul 2023 · Cancer Fund Impact Investments
Nov 2022
Investment / accelerator support
Apr 2022 · FlyWheel Fund
Mar 2022 · Y Combinator
Prize / funding from ASU.io Pay it Forward Prize
Sep 2021 · ASU.io
Pre-seed investment via Elevate Nexus Statewide Pitch Competition
Apr 2021 · Elevate Ventures
Top prize at Elevate Ventures Nexus Competition
Apr 2020 · Elevate Ventures
People & investors
Leadership
Founder, CEO & Chief Scientist
Founder, Advisor
Industrial Designer
Engineer / Analyst
Dr. Alice Police
Medical Advisor
Morgan Rudolph
Lead UI Designer
Prof. Jim Rudolph
Lead Industrial Designer
Work & culture
Mission-driven, research-heavy team culture rooted in a University of Notre Dame lab; the company emphasizes cross-functional work across hardware, software, clinical research, and design, with university/hospital collaboration.
Compensation
No public compensation data found.
Product & market
Pricing
Hardware/device sales and research reservations; custom or undisclosed pricing
Differentiators
- —Handheld, fully integrated, battery-powered fdNIRS device
- —Real-time 1D/2D quantitative mapping in an iOS companion app
- —Deep-tissue imaging without ionizing radiation or injectable contrast
- —Research-use investigational device with a clinical-response focus
- —FDA-regulatory-path-oriented breast cancer therapy monitoring workflow
Technology
frequency domain near infrared spectroscopy (fdNIRS)
near-infrared spectroscopy
handheld battery-powered hardware
real-time iOS companion app
AI prediction models
wireless data transmission
silicon photomultipliers (SiPMs)
660-1000nm laser sources
Verilog
HLS
C++
Swift
PHP
HTML
JavaScript
Customers
Universities
Hospitals
Clinical researchers
Oncology/physician users
Competitors
QT Imaging
Koning
Delphinus Medical Technologies
Niramai
CairnSurgical
Scale & contact
Estimated revenue
Approximately $330k-$430k estimated annual revenue
Estimated monthly visits
400
Traffic estimate as of Jul 2026
Latest news
NearWave · Jul 2023
NearWave announced an investment from Cancer Fund Impact Investments.
NearWave · Jul 2023
NearWave said the European Patent Organization awarded a patent covering its fdNIRS technology and an optical detector calibration method.
NearWave · May 2023
NearWave announced a research partnership with the University of Twente lab to study lactation physiology using optical technologies.
NearWave · Nov 2022
NearWave announced the closing of a $1.2 million pre-seed round.
Jobs and careers at NearWave
0 jobs at NearWave
No open positions
Check back later for new openings