The Munich-based medtech startup inveox is raising fresh capital again. Existing investors are injecting an additional five million euros into the company. The founders plan to use the money to complete the final stages of market launch.
Inveox is developing a solution for the smart handling of biopsy samples. Innovative sample containers are designed to prevent errors in the assignment of tissue samples to individual patients. The startup also offers an automation platform for laboratories. As a result, inveox aims to make tissue sample handling more efficient and ensure patients receive the correct diagnosis.
Already last year Inveox founders Maria Driesel and Dominik Sievert were able to convince four unnamed business angels to invest one million euros. Now the same four private investors are injecting another five million into the company.
“We had opted for business angels for seed investment because we wanted to benefit from the wealth of experience of successful entrepreneurs, especially during the incredibly formative start-up phase of our company,”
said the managing directors Maria Driesel and Dominik Sievert. Looking back, the two founders say:
"Our expectations in this regard have been far exceeded—in addition to the strategic advice and strong support we received in all areas, we are also grateful for the trusting and sustainable relationships on a human and personal level that have developed in the meantime. We continue to value all of these aspects, and they certainly played a role in our decision."
All in all, it was a strategic decision to complete the current financing round with existing investors:
“We are convinced that together, in our proven successful constellation, we can achieve an even more valuable development of our company.”
“Renowned customers are waiting for the delivery of our products”
With the fresh capital, the startup aims to enter the German-speaking market and targets additional countries in the future. Furthermore, the company plans to further develop its products to series production and establish a service network. The two founders are pleased with their company's development over the past twelve months:
"Our corporate planning and development strategy for the first year have been a complete success: we have built a strong team of international specialists, developed all three components of our laboratory automation system to market readiness, and acquired renowned customers who are awaiting delivery of our products. And we have stayed under budget."
Inveox has since moved from the premises of UnternehmerTUM moved out and into the neighboring technology center Gate Garching Due to the strong growth, a move to larger premises within the gate has already become necessary. The startup continues to grow and is currently seeking reinforcements in several specialist areas.
