Exclusive. Four business angels invest one million euros in the MedTech startup inveoxWith the fresh capital, the Munich-based company now wants to take the final steps towards series production of its smart fabric containers.
The two founders, Dominik Sievert and Maria Driesel, have set themselves the goal of simplifying the work with tissue samples while significantly reducing the error rate. To this end, they have developed a complete solution for the smart handling of biopsy samples with their startup inveox. The use of a novel sample container is intended to prevent alarmingly common errors in the assignment of tissue samples to individual patients. Inveox also offers an automation platform that laboratories can use to process incoming samples automatically, as well as a web app for data processing and linking. The inveox solution is intended to make the handling of tissue samples more efficient and at the same time ensure that patients do not receive someone else's diagnosis.
Four unnamed business angels have invested a million euros in this technology, even before it's ready for series production and market launch. Co-founder and CTO Dominik Sievert explains to Munich Startup that up to the current functional prototype, the MedTech startup was solely funded by its own financial reserves, the support of the accelerator TechFounders and funds from the EXIST Founder's Grant came.
“But we now need resources to scale and develop our series product.”
His co-founder and CEO Maria Driesel added:
“Financing should also bring us to our first paying customer.”
“TechFounders and BayStartUP have supported us intensively in our search for investors.”
The founders had already met one of the business angels at an event about a year ago and had been in loose contact ever since, says Driesel:
“In addition, TechFounders and BayStartUP intensively supported in the search for investors.”
The startup was apparently specifically looking for investors who could advance the company with their expertise. Dominik Sievert says:
"Smart money was a key criterion for us from the beginning: now, through our investors, we can draw on expert knowledge in the areas of IT/SaaS, regulatory affairs, Industry 4.0, and business scaling."
We ask Maria Driesel what she thinks might have convinced investors to join inveox:
"The team! We developed a technical solution to a global problem, but just like us, our investors valued the human fit most!"
