Neuromod Devices Ltd of Ireland has raised €30 million in financing to support the further commercialisation of its device for the treatment of tinnitus, a medical condition in which a person experiences ringing in one or both ears which isn’t caused by an external source. The funding consists of a €15 million expansion of an earlier Series B round and €15 million in venture debt from the European Investment Bank. The Series B extension was led by Panakès Partners of Milan, Italy.
