San Diego-based Cooler Heads, a medical device company specializing in products for cancer patients, announced it closed an oversubscribed $11 million Series A funding round.
Mutual Capital Partners led the round, with participation from SHD Partners, Crescent Ridge VC, Cal Innovation Fund, NuFund, Robin Hood Ventures, Golden Seeds and HIP VC.
WHAT IT DOES
Cooler Heads' portable unit, Amma, is a self-administered scalp therapy for chemotherapy patients undergoing infusion.
Amma aims to reduce blood flow to hair follicles, shielding them from chemotherapy drugs and, therefore, preventing hair loss. The device can be used to cool the scalp before, during and after chemotherapy.
Due to the mobility of the unit, patients can leave their infusion chair to complete their scalp cooling therapy anywhere in the infusion center.
According to the company, Amma offers a constant cooling system that eliminates the need for dry ice or repeated cap changes.
The funds will be used to increase manufacturing capacity, expand the company's commercial team and develop the next generation of Amma.
"Hair loss is so emotionally devastating that 8% of patients eligible for chemotherapy refuse treatment," Kate Dilligan, breast cancer survivor and founder and CEO of Cooler Heads, said in a statement.
"Amma is a user-friendly platform that helps infusion centers seamlessly add scalp cooling to their workflows. The American Medical Association's decision to elevate scalp cooling reimbursement codes to Category I starting in January 2026 creates powerful momentum for us, reinforcing scalp cooling as an emerging standard of care."
MARKET SNAPSHOT
Earlier this year, the Centers for Medicare and Medicaid Services (CMS) released its 2026 Medicare Physician Fee Schedule (MPFS) proposed rule, which included three new Category I CPT codes for mechanical scalp cooling, each assigned a proposed payment rate.
Last year, the American Medical Association introduced new Category I CPT codes for scalp cooling services, scheduled to take effect in January 2026.
In a statement, Cooler Heads said the change would enhance insurance reimbursement, making scalp cooling more accessible to patients with cancer undergoing chemotherapy.
