Diligence memo · auto-generated · as of July 3, 2026
Kona Medical, Inc.
Kona Medical, Inc. looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Kona Medical, Inc. operates in Biotechnology, based in PALO ALTO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Kona Medical, Inc. has raised $62M in disclosed capital across 6 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $30M on 2012-05-25.
Most recent recorded round closed around 2015-08-20.
Valuation (modeled)modeled
Provath models Kona Medical, Inc. at approximately $397M (range $20M–$1.5B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.55× the median modeled value of Series B Biotechnology companies in 2013–2015 (77 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 13 months.
Last raise 10.9 yr ago; this sector typically re-raises about every 14 months.
Silent for over 3× the sector's normal cadence.
The last round was 3.0× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 85% of Biotechnology peers (4293 compared).
Modeled value ranks above 81% of those peers.
Closest niche peers: BioAtla,LLC, Scholar Rock LLC, Oligasis, LLC, Alector LLC, Gelesis Inc.
Peoplefiled
8 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.