Armor Medical Wins $350,000 grand prize at MedTech Innovator 2025 Finals

Armor Medical wins $350,000 prize: ©MedTech Innovator

Armor Medical took home the top honor at MedTech Innovator’s 2025 competition, earning the $350,000 non-dilutive Grand Prize in the Early-Stage Competition at The MedTech Conference powered by AdvaMed.

The company, which is developing technology to prevent and manage postpartum hemorrhage, was selected by a live audience of industry leaders after pitching alongside fellow finalists Luminoah, Rivanna Medical, STENTiT, and SutureTech. Each runner-up received $25,000.

“We are honored to be named the MedTech Innovator Grand Prize winner,” said Kelsey Mayo, Ph.D., co-founder and CEO of Armor Medical. “For me, this moment is especially meaningful as it represents resilience: the ability to absorb pressure, bend, and emerge stronger. That is the story of Armor Medical, and it is also the story of so many mothers and families touched by postpartum hemorrhage, who inspire us and keep us laser-focused on our ‘why.’”

Mayo added that the award reflects the “creativity, grit, and unshakable belief” of her team and the broader MedTech Innovator community. “Together, we are working to make birth safer for all mothers, everywhere,” she said.

The competition finals took place during the annual MedTech Conference in San Diego, where finalists presented their innovations and fielded questions from a panel of industry experts.

“Congratulations to Armor Medical for winning this year’s Grand Prize,” said Paul Grand, founder and CEO of MedTech Innovator. “Armor Medical’s win shows that sophisticated medtech industry leaders recognize the value proposition of this game-changing maternal health innovation. Each of our finalists demonstrated the remarkable innovation happening across the medtech ecosystem. We’re proud to provide our platform to help bring these life-changing technologies to patients.”

In addition to the Grand Prize, Wavelet was awarded the MedTech Innovator Execution Award and Virginia Rybski Memorial Award, presented jointly by MedTech Innovator and AdvaMed Accel. The honor recognizes companies with strong leadership and a proven ability to execute their plans to improve patient care. Wavelet received a $25,000 prize following a live audience vote.

“Wavelet winning the MedTech Innovator Execution Award marks a defining milestone for our company,” said Liz Golden, co-founder and CEO of Wavelet. “The accelerator propelled us into the spotlight, helped us engage with strategic visionaries, and accelerate fundraising. We are deeply grateful to MTI and the mentors who guided us on this journey.”

Luminoah also took home honors, winning the Best Video Award and a $10,000 prize for its creative storytelling. The contest drew submissions from all 64 companies in this year’s MTI cohort.

The 2025 MedTech Innovator program featured 64 startups—45 early-stage and 19 mid-stage medical device, diagnostic, and digital health companies—selected from thousands of applicants worldwide. Over four months, participants received mentorship, networking opportunities, and access to MTI’s global ecosystem of manufacturers, investors, payers, and providers.

According to MTI, more than 500 subject matter experts evaluated applicants this year. Since its founding, the accelerator has sourced nearly 14,000 applicants and supported more than 700 alumni companies, which have collectively raised $10 billion in follow-on funding and launched over 400 products.

Applications are now open for MTI’s 2026 cohort at medtechinnovator.org/apply.

“MedTech Innovator’s mission is to improve human health by accelerating the growth of companies transforming patient care,” Grand said. “Each year, we’re reminded that innovation in this industry is not slowing down—it’s gaining momentum.”