California company raises $51 million for light-operated hearing aid

Hearing aid company Earlens has received $51 million in financing for the commercial launch of its Earlens Light Driven Hearing Aid.

Vertex Healthcare, a life science venture capital firm in Palo Alto, Calif., was the primary investor in Earlens Series C round, according to a statement from the company. Other investors included Cochlear, New Enterprise Associate, Aisling Capital, Lightstone Venture and Medtronic.

"Hearing impairment is a significant health issue globally which has been greatly underserved by conventional hearing technology," said Christopher Shen, managing director of Vertex Healthcare, in a statement. "We are pleased to be a part of the team bringing this groundbreaking new technology to market.  We believe the unique advantages of Earlens will benefit many of those hearing impaired individuals and their loved ones looking for a better solution to hearing impairment."

While most hearing aids use a small speaker to amplify sound into the ear, Earlens’ hearing aid uses focused light and a small lens to create a more natural sound while eliminating the whistling sound that occurs in many conventional hearing aids.

Now, Earlens, which is headquartered in Menlo Park, Calif., is turning its attention to raising an additional $14 million in the third quarter of this year to complete the launch of the hearing aid.