Astarte Medical, a venture-backed healthcare technology startup focused on improving care for preterm infants, is shutting down after eight years. The company, which had raised $14 million and employed a small team, is laying off its remaining staff and selling its assets. This decision, confirmed in late December 2023, resulted from a challenging market environment where hospitals, facing slim margins, were slow to adopt new contracts, causing Astarte's revenue to fall short of investor expectations for further funding. Unable to secure the growth needed in the post-2022 downturn, the infant-tech startup ultimately chose to wind down operations.
