machineMD, a Swiss medtech startup has secured €3.2 million oversubscribing its seed round by 50%. The round was led by Guido Fluri Foundation – Leading Partner of the SSC’s Investor Club, which is committed to the fight against brain tumors.
Prior to this, machineMD was awarded an Innosuisse project of €1.25 million to fully develop a prototype device. This capital came from Inselspital, CSEM and Helbling.
The current seed funding round is complemented by a convertible note of €1.2 million committed in 2021, which will now be converted into equity. machineMD was further supported by a financial contribution from the Canton of Bern.
Medical VR device
machineMD is developing a medical device for the early diagnosis of neurological disorders including brain tumors via neuro-ophthalmic examinations. With the fresh funds, the company is in plans to bring its first product to the market by the end of 2023.
“This seed round showed us the Sitem StartUp Club is not only a place where MedTech startups get office space, find a lively community and coaching, but also gave us access to an exclusive and active investor club,” explained Dominic Senn, CEO of machineMD. ” For us, as well as for other MedTech startups, such a comprehensive funding offer with a strong financing component is a key success factor that shows how well Bern is positioned in the field of translational medicine.”
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