Innovation Industries Leads LionVolt, Dutch Battery Startup, To Close €4 Million Seed Round

The round was led by deep tech venture capital firm Innovation Industries and joined by Brabant-focused startup fund Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and renowned investor Sake Bosch. LionVolt spun off last year from TNO at Holst Centre, building on six years of research and development of its innovative battery design.

The funding will support the company’s development of a solid-state lithium-ion battery that is more efficient and sustainable than any lithium-ion battery available on the market today. LionVolt’s cutting edge design delivers higher energy density, faster charging, and a longer lifespan – leading to fewer batteries used (and disposed of) over time. The LionVolt battery will power technology in several industries, including wearable devices, electric vehicles (EVs) and aviation. 

“The battery industry requires a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability.  We are pioneering that solution while building a strong ecosystem to support this innovation,” said LionVolt CEO Karl McGoldrick. “The support of TNO and our investors will not only bring our R&D to its next stage but will further establish the Netherlands as a hub of Climate Technologies.”

“This is an exciting milestone for LionVolt,” remarked LionVolt CTO and co-founder Dr Sandeep Unnikrishnan. “We are creating batteries that will transform the energy sector in terms of safety, energy density and performance. LionVolt is proud to continue its game-changing innovation from the Brabant region.”

“LionVolt’s new technology will provide consumers with better, longer-lasting batteries while also contributing to the adoption of exciting technologies like wearables and electric cars,” added Nard Sintenie, partner at Innovation Industries. “We are proud to work with LionVolt and support their mission to revolutionise the battery industry.”

“LionVolt is a strong example of the innovation occurring in the Brabant region of the Netherlands,” added Jurgen van Eck of the Brabant Development Agency (BOM). “The BOM invests in LionVolt because the company has enormous potential. Almost 80 percent of the supply chain the company needs to build a production line can be sourced locally. LionVolt could be one of the next big OEM’s in the Brainport region.”

Earlier this year LionVolt already raised a €1.25 million pre-seed round from TNO, deep tech venture capital firm Innovation Industries, impact fund Goeie Grutten, and Brabant-focused early-stage investment Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).

AutoFill Technologies secures multi-million-euro pre-series A funding

The round was led by Innovation Industries, with participation from Deeptech Labs, an accelerator initiated by Arm and The University of Cambridge, among others. Rick Belluzzo, former COO of Microsoft, and Bram Schot, former CEO of Audi – both of whom joined the AutoFill Board of Advisors earlier this year – also participated in the round.

Currently, most object inspections in the automotive and rail sectors are performed by humans. Existing automated solutions, meanwhile, are costly and require substantial space and infrastructure to function. AutoFill has pioneered a solution which combines vision technology with multi-sensor data fusion to identify anomalies and increase the accuracy of quality standards.

Designed to be as agile as possible, AutoFill’s solution can be incorporated seamlessly into existing operational processes, ensuring further efficiencies, objective reporting, increased safety, and cost savings. All of this modernises, optimises and enhances quality control at scale.

Speaking on the fundraise, AutoFill CEO and co-founder, Gideon Richheimer, says: “AutoFill’s technology removes the limitations presented by human involvement, significantly raising safety and accuracy standards, and making huge financial savings for the enterprise. We believe our solution will play an important role in accelerating a more efficient future initially for the automotive and rail industries and are extremely grateful to our investors for supporting us in this mission.”

Headquartered in Wassenaar, AutoFill recently opened a second office in the High Tech Campus Eindhoven, considered to be the largest centre for technology innovation in Europe.

The company has received a major vote of confidence in its solution, having secured backing from Innovation Industries, a venture capital firm which is renowned for only backing the most promising deep tech start-ups and scale-ups.

The investment will be used to advance AutoFill’s technical solution, strengthen its current operational deployments at partner sites, and grow its engineering team.

Harm De Vries, co-founder and general partner at Innovation Industries, says: “AutoFill is a ‘new gen’ deep tech start-up founded by a very experienced team. The offering is a market validated, highly scalable solution. We are convinced that AutoFill will have a revolutionary impact on inspection workflow processes for numerous industries – potentially saving them billions of dollars a year.”

Miles Kirby, CEO of Deeptech Labs, says: “Following AutoFill’s completion of our powerful and highly coveted accelerator programme, we are delighted to demonstrate our commitment to the company through this funding round. AutoFill’s progress demonstrates the value of our role as a catalyst for deep tech success. We are excited to see the positive impact AutoFill’s technology can have on the automotive and rail industries as well as many other sectors. We look forward to continuing to support AutoFill and helping the business grow.”

Bram Schot, former Audi CEO and AutoFill board member, says: “I joined AutoFill’s Board of Advisors earlier this year because I was so impressed by the experience of the leadership team and the credibility of its solution. My subsequent investment in its future is testament to that continued confidence, and I look forward to witnessing the results of this successful funding round first-hand.”

Dutch AI semiconductor startup Axelera AI launches with $12 million seed round

Eindhoven, Netherlands – September 15, 2021 – AI semiconductor startup Axelera AI announced today that it has successfully closed a seed investment round of $12 million.

The round was led by emerging technologies leader Bitfury and joined by global nanoelectronics R&D center imec and deep-tech venture capital funds Innovation Industries and imec.xpand. The funding will support the company’s development of an industry-defining product powering AI applications at the edge.

Axelera AI was incubated by Bitfury Group in 2019, formerly operating as Bitfury AI until the company came out as an independent entity this year. Building on its extensive research and development focused on integrating world-class hardware and software technologies for edge and cloud-to-edge enterprise solutions, Axelera AI joined forces with imec in early 2020 to develop groundbreaking computing architecture for high-performance AI. Headquartered in the AI Innovation Center of the High Tech Campus in Eindhoven, Axelera AI also has R&D offices in Leuven (BE) and Zurich (CH). The company has already recruited an elite team of more than 20 senior engineers and developers from world-leading AI companies and research centers, including Intel, Qualcomm, IBM, and imec.

“With our launch as a new independent company and the closing of this investment, Axelera AI is now claiming its place as a significant player in the global AI sector,” said Fabrizio del Maffeo, CEO and co-founder of Axelera AI. “Our extraordinary team merges complementary expertise in software development, image processing, dataflow architecture, in-memory computing, algorithms and quantization with a proven track record of business success. We look forward to building on our extensive R&D and introducing new solutions across the globe over the next few years.”

“Bitfury has a proven track record of incubating and bringing game-changing technologies to market,” said Valery Vavilov, CEO and co-founder of Bitfury Group. “We can look no further than LiquidStack, the emerging leader in two-phase liquid immersion cooling for the world’s most intensive computing applications, and Crystal Blockchain, the most advanced blockchain analytics platform for digital asset compliance. We could not be more excited to support the launch of Axelera AI, which is bound to accelerate the development and delivery of critical AI solutions across global markets.”

“Imec has spent years researching custom circuits and novel architectures for efficient AI using in-memory compute, algorithms and quantization”, said Diederik Verkest, Program Director for machine learning at imec. “We are proud that after working together with the Bitfury Group, we can leverage and contribute this expertise to ensure Axelera AI develops and brings the best possible product to the edge AI market.”

“Axelera AI is a unique Dutch start-up on a journey to deliver a disruptive AI chip that will accelerate the application of AI at the ‘edge of IOT’,” said Sander Verbrugge, partner at Innovation Industries. “Affordable AI compute power operating at low power is essential to unlock the full potential of AI in our everyday lives. We are proud to be part of this journey and to support this world-class team in achieving its ambitions.”

“Axelera AI has brought together a stellar team and unites several distinct in-memory compute efforts from across Europe under one roof. We very much look forward to working with Fabrizio and his team and helping them achieve their ambitious goals by leveraging imec.xpand’s cross-border, value-add platform and network,” said Cyril Vančura, partner at imec.xpand.

Axelera AI is designing the world’s most efficient and advanced solutions for AI at the edge. Its game-changing hardware and software product will concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today. The company’s groundbreaking solution will empower thousands of applications of AI at the edge, making the use of AI more efficient and accessible than ever before. Axelera AI’s products will be fully integrated with the leading open-sourced AI frameworks when it launches to select customers and partners in early 2022.

Sustainable protein seed start-up Protealis doubles capital upon closing its extended A-round

Driven by market interest for sustainable and locally grown protein crops

The incorporation announcement earlier this year sparked a lot of interest in the young start-up, both from VCs as well as from farmers and downstream processing industry. Not surprisingly, protein transition and sustainability of food – which define the very operating space in which Protealis will act- are more on the agenda than ever since the corona pandemic. As a result of the growing customer demand in these fields, both food and feed companies are struggling to keep up with that demand due to the relative unavailability of non-GM, local, sustainably grown protein crops. “It became increasingly clear that we would not have to convince the market of the opportunity, but rather fill an existing need as soon as possible” says CEO Benjamin Laga. The interest in the start-up did not only come from Belgium, but also from other Central and Eastern European countries where the very early soybeans from Protealis’ portfolio could find an agronomic and climatic fit. That interest now translated into financial tailwinds with the closing of an additional 5.7 Mio € A-round investment in the start-up.

Flemish minister of Agriculture and Innovation Hilde Crevits: “It is very encouraging to see that in such short period of time Protealis succeeded in convincing an international group of investors to join their journey. It demonstrates the Flanders’ strength in biotech development, not only for healthcare but also for agriculture and the food sector. This spin-off that sprouted from VIB and ILVO, 2 of our Flemish top institutes, can create substantial leverage to realize the Flemish protein strategy I launched earlier this year.”

Seizing the opportunity

Remaining true to its mission to provide “sustainable protein seeds for Europe”, Protealis will use the extra capital to widen its geographic scope and accelerate production scale-up for broader market introduction as well as to accelerate the release of new varieties. Next to the existing early soybean pipeline, Protealis also intends to use the capital to establish a pipeline for other protein crop offerings.

Faster implementation of R&D platforms

“In our first months, the team did an incredible job to demonstrate proof-of-concept and devise some very innovative breeding strategies. Deploying these into our crops at full scale now becomes a feasible option and will drive the performance of our future varieties by breeding even better and faster” Benjamin Laga continues. These breeding innovations are first to be implemented in soybean breeding but can also serve other protein crops. Also the company’s seed inoculum R&D efforts will benefit from the financial injection.

International expansion of the investor syndicate

The increased international and downstream business interest is also reflected in the composition of the new investor syndicate. With additional investments from the Netherlands (Innovation Industries and HFT), Singapore/EU (Thia Ventures) and UK (Estari), Protealis moves beyond Flanders. Also, the new investors bring additional experience in the seed industry, through Innovation Industries who is an investor in the Dutch potato seed company Solynta and HFT that was founded by the former executive management team of De Ruiter seeds. Moreover, it also brings knowledge of downstream processing industry via Korys, the investment company of the Colruyt family that holds several participations in food processing companies.

The new investors join the existing investor syndicate comprising V-Bio Ventures, Agri Investment Fund (AIF), Participatiemaatschappij Vlaanderen (PMV), Estari Group, Globachem Group, Gemma Frisius Fund and VIB.

Onera raises €10.5M in Series B funding

Eindhoven – July 29, 2021 – Onera Health, a leader in sleep diagnostic and monitoring solutions, closed the series B funding round today, which brought the total funding raised to date above the €24M mark.

Led by Innovation Industries in close collaboration with Invest-NL and with existing investors Jazz Pharmaceuticals, imec.xpand, BOM and 15th Rock, the company intends to use the funds to execute clinical studies and further commercialize its sleep diagnostics and monitoring products in Europe and the United States. Onera has recently obtained the CE mark for its first product, an innovative polysomnography (PSG) system that brings the gold-standard quality of a hospital diagnostic system directly to a user’s home.

We’re going to leverage the funding to conduct progressively larger scale clinical studies, expand our partnerships in the EU and US and expedite product development to broaden our portfolio in sleep diagnostics and monitoring,” said Ruben de Francisco, Founder, CTO & interim CEO of Onera “This will facilitate the commercialization of our products and help the medical field provide the much-needed answers for millions who are affected by sleep disorders. We are excited to have such strong support from investors who share our vision.”

Harm de Vries, Partner at Innovation Industries, said: “We are delighted to lead this investment in Onera as the company is perfectly positioned to support the evolution of hospital-quality care to the home by its innovative sleep diagnostic products. With its world-class team, partners, and disruptive technology, we believe Onera is able to democratize gold-standard sleep medicine.”

Leo Holwerda, Director Capital of Invest-NL added: “Our investment in Onera is another good example of how we support promising Dutch start-ups and innovative companies to bring high-impact technologies and solutions to the market.”

“From the very beginning, we were convinced that Onera has the potential to revolutionize the remote monitoring industry. We look forward to seeing Onera’s continued success, enabled by this investment, in the commercialization of its products in Europe and the United States”, said Tom Vanhoutte, Partner at imec.xpand.

Onera focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of their PSG system enables not only at-home diagnostics but also offers opportunities for hospitals that have limited or no access to a sleep clinic to implement sleep diagnostic testing within their institution.

Last month, the MedTech and Digital Health company showcased its first-generation product at the SLEEP 2021 congress and presented its latest research to renowned world-experts, further underlining the ambition to position itself as a leader in the field of sleep medicine.

Onera recently relocated its headquarters to the Brainport region in Eindhoven, the Netherlands, while maintaining commercial operations in the United States.

 

About Onera

Onera Health is a leader in transforming sleep medicine and remote monitoring. Their breakthrough diagnostic solutions and services are poised to help millions of people struggling with sleep-related ailments, while also impacting other medical fields by monitoring a variety of chronic conditions, ultimately improving the health and quality of life for patients around the world. The company’s innovative solutions provide comprehensive sleep test data to physicians in a variety of clinical and non-clinical environments to optimize patient care and reduce healthcare costs. Onera has offices in the Netherlands and the US. For more information, go to www.onerahealth.com

About Innovation Industries

Innovation Industries is a Deeptech venture capital investor that invests up to €30M in Hightech, Agri&Foodtech and Medtech businesses.
Today, Innovation Industries manages over €275M across two funds and has a team of 15 investment professionals. Its largest investors are the Dutch pension funds PME and PMT. Innovation Industries invests from seed to late stage and has partnerships with all Dutch technical universities and research institute TNO. For more information on Innovation Industries see: www.innovationindustries.com

About invest-NL

Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on carbon-neutral and circular economy and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest-NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 60 people. For more information, go to www.invest-nl.nl

About imec.xpand

imec.xpand is an early-stage and growth venture capital fund with powerful strategies that evolve hardware-driven nanotechnology innovations into successful global companies. The fund is independently managed by a team of entrepreneurs, seasoned investors and business experts who target ambitious tech start-ups where imec technology, expertise and infrastructure can impact success. For more information, please visit www.imecxpand.com

About Jazz Pharmaceuticals plc

Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is a global biopharmaceutical company whose purpose is to innovate to transform the lives of patients and their families. We are dedicated to developing life-changing medicines for people with serious diseases – often with limited or no therapeutic options. We have a diverse portfolio of marketed medicines and novel product candidates, from early- to late-stage development, in neuroscience and oncology. We actively explore new options for patients including novel compounds, small molecules and biologics, and through cannabinoid science and innovative delivery technologies. Jazz is headquartered in Dublin, Ireland and has employees around the globe, serving patients in nearly 75 countries. For more information, please visit www.jazzpharmaceuticals.com and follow @JazzPharma on Twitter.

About BOM (Brabant Development Agency)

Entrepreneurship is the driver of change. From sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies – the Brabant Development Agency (BOM) ensures that startups playing a role in these fields get off to a flying start and grow into scaleups, that the right facilities are always available to Brabant-based companies, and that companies that aspire to go global can actually do so. Over the last four years BOM has worked with over 600 companies to achieve such an impact. BOM. Catalyzing Change. For more information, please visit www.bom.nl

About 15th Rock Ventures

15th Rock Ventures is a venture capital firm that invests in human augmentation and information technology with the aim of creating a prosperous society in the age of 100 years. The definition of human augmentation is to create a world where people can improve their physical abilities, acquire various skills that were previously impossible, and have more options in life by combining multiple elemental technologies such as AI, robotics, electronics, AR/VR, and brain-machine interface. For more information, please visit www.en.15th-rock.com

Solynta raises € 21 million in series C funding

Hybrid Potato Breeding Company Solynta, based in Wageningen, the Netherlands, closed its Series C funding round raising € 21 million from a consortium of investors.

The potato is the 4th most produced food crop after corn, wheat and rice and is increasing in importance globally due to its high nutritional value. Solynta’s innovation of hybrid potatoes makes it possible to distribute new potato varieties from clean disease-free true potato seed (TPS) instead of bulky and diseased seed tubers. This technology, which is GMO free, makes it possible to rapidly develop new potato varieties that are attuned to needs in the market. For example a higher nutritional value or resistances to drought and diseases. Moreover, TPS has major logistical benefits as 25 grams of true seed is comparable to 2,500 kg of seed tubers. True seed is easier to store and cheaper to transport compared to traditional seed tubers, which helps to reduce environmental impact and improve sustainability.

Solynta will use the proceeds of this financing round to accelerate it’s growth, broaden product development to cater to more market segments and to scale-up the commercial organization in order to address the challenges within the multi-billion dollar potato supply chain. “With this funding round Solynta will be able to leverage its pasts successes and enhance its focus on down-stream activities. This will allow Solynta to aggressively speed up its product pipeline as well as its market facing activities” said Hein Kruyt, Solynta’s CEO.

“We are impressed by the tremendous progress that the team has made so far”, says Harm de Vries, partner at Innovation Industries. “We are proud to continue to support Solynta in its journey to revolutionize potato breeding and unleash the full potential of potato to feed the world.”

Yoav Hineman, partner at Fortissimo Capital said: “We are very excited by Solynta’s progress in developing its technology and in attracting significant interest from leading companies in the agriculture sector. Solynta’s revolutionary technologies and products are game-changers that will address demands in multiple global markets. I look forward to the Company’s success.”

LionVolt to enter the battery industry with revolutionary 3D technology

With longer range, quick charging and greater safety in a more sustainable solution, the Eindhoven company LionVolt wants to reshape the battery industry. With an initial investment of 1.1 million euros from Innovation Industries, Goeie Grutten, Brabant Startup Fund (BSF) and the Brabant Development Company (BOM), LionVolt is accelerating development of the 3D battery technology. The development of machines to produce these revolutionary batteries will largely take place in the Brainport region.

The platform for the 3D solid state battery technology was developed by TNO at Holst Center. Using nanotechnology, a three-dimensional structure is applied on metal foils. It is then covered with thin-film layers as energy carriers. Stacking these 3D thin-film structures creates a much lighter, safe battery without flammable electrolyte. Moreover, it will be able to store up to four times more energy in the time it takes the current generation of batteries to charge. Besides the larger capacity, LionVolt expects to reduce the production costs of batteries significantly using this technology.

“The battery industry demands a new approach to meet the needs of future generations,” says Karl McGoldrick, CEO at LionVolt. “And this is exactly what has been developed here in the Brainport region. With local development expertise and ecosystem allowing us to source around 80 percent of the production lines in Brabant, we could not be in a better place”.

“LionVolt is a young company. Next to the money this round provides, they can also benefit from hands-on support”, says Sander Verbrugge of Innovation Industries. “The organization, business model and go-to-market all require further development in the coming years. As an investor in high-tech companies, we have the experience to support LionVolt with these challenges.”

Pepijn Herman of the Brabant Development Company: “The large battery factories are currently being built in Germany, Sweden and France. But they are based on conventional Li-ion battery technology. By making use of the relevant knowledge and expertise in the Brainport region, LionVolt can realize a scalable production demonstration line for the 3D battery technology in a short time. This will enable us to put the Netherlands on the map as an innovative battery producer. In that sense, this could very well become the next ASML!”

 

 

A step forward towards a more sustainable chemical industry: bio-aromatics company Relement secures first capital investment.

Today, Relement BV has raised their first capital investment from the TTT Smart Industries Fund that is managed by Innovation Industries, a leading deep-tech Venture Capital fund. Relement BV is a spin-off from Dutch Research and Development institute TNO. The company is uniquely positioned as a manufacturer of ingredients for coatings and materials, for which there is no renewable alternative today. The investment will enable Relement to contract partners for scaling up sample production for customers and strengthen technological development. An important milestone in the realisation of a more sustainable chemical industry.

“Relement is very happy with the support from Innovation Industries. This is an important step in making the critical change towards a more sustainable chemical industry. Innovation Industries is known for investing in knowledge-intensive and deeptech companies. Relement is such type of company and welcomes visionary investors who understand the large opportunities that the chemicals market has to offer” comments Roger Blokland, CEO of Relement. “Relement is managed by a strong team of founders, has access to disruptive technology and impactful customers. This first investment will enable Relement to reach important milestones towards the realisation of greener chemicals, coatings and materials industry.”

Innovation Industries considers this impact investment as a way to support Relement in its journey to make the chemical industry more sustainable. “Relement has proven that it is possible to use inedible biomass instead of a fossil feedstock while making a product that has superior quality and durability. We have invested with our Technology Transfer Fund and are aware that our support is only a modest step towards a more sustainable world. We hope that our investment encourages other investors to support Relement and to join this round.” – according Harm de Vries, partner at the fund.

About TTT Smart Industries and Innovation Industries

The Smart Industries Thematic Technology Transfer (TTT) consortium is a cooperative alliance between the Technology Transfer Offices of TNO, the four Dutch technical universities and Innovation Industries. It aims to bring promising early-stage tech spin-offs to the next level. The Smart Industries TTT Fund is managed by Innovation Industries. Please visit www.tech-transfer.nl for more information.

Innovation Industries is a leading Netherlands-based venture capital firm focused on high tech, med tech and agri-food tech companies. Next to financial support, Innovation Industries provides operational and strategic support in order to optimally position portfolio companies for success. Innovation Industries has over € 250 million under management and invests across all growth and development stages. For more information, please visit: www.innovationindustries.com

Microsure raises € 2.7 million under new leadership for the further development and clinical roll-out of the MUSA microsurgery robot assistant

Son, The Netherlands, 28 April 2021Microsure, a leading Dutch developer of micro-surgical robotics, today announced the closing of a financing round of € 2.7 million, as an extension of the 2020 Series B round. The funds will be used to continue the initial clinical roll-out of MUSA, the first CE-marked and approved micro-surgical robot assistant. This round was led by Invest-NL, the other 50% of the funding came from the existing shareholders BOM Brabant Ventures and venture capital investor Innovation Industries, as well as from private investor Ten Cate Investeringsmaatschappij (TCIM).

MUSA is the world’s first clinically available CE-certified surgical robot assistant for microsurgeons. The device has been developed by a team of engineers and surgeons, creating a groundbreaking solution and compatible with current operating techniques, instruments and other operation room-equipment. MUSA seamlessly scales down motion and filters out tremor to keep a steady hand at any time throughout every microsurgical procedure. This can greatly improve clinical outcomes for various micro-surgical indications such as lymphatic-venous anastomosis, distal nerve repair, vascularized tissue transplantation and many other complex microsurgical procedures.

The initial planned clinical roll-out of MUSA was seriously delayed due to the Covid-19 pandemic, giving the company the opportunity to also further develop a number of improvements to the current MUSA system, which will be available on the market in the course of 2022.

New CEO

In mid 2020, Microsure appointed Sjaak Deckers PhD as its new CEO, to lead the company into its next phase of market entry. Deckers is an experienced MedTech executive with broad product development experience, as CEO of two earlier MedTech startup companies, GTX Medical and Sapiens (Steering Brain Stimulation), and as venture partner at European Healthtech Builder NLC. He also held senior management positions at Medtronic, Philips Healthcare and Philips Research, where his latest role was Senior Director Business Development Healthcare.

Deckers is very pleased with the new funding to further advance the MUSA:

“Despite the Covid-19 restrictions, our engineers have made tremendous improvements to the current MUSA system, and our clinical team gained further adoption experience of microsurgery in the Netherlands with the MUSA system. Microsure has attracted strong interest from multiple key sites, and users from across Europe to further advance its unique robot assisted microsurgical technology platform. This investment will help us expediting our further clinical validation and adoption across multiple sites. It will scale up our business presence, addressing the unique clinical needs for microsurgeons.”

Wouter van Westenbrugge, senior investment manager at Invest-NL adds:

“Invest-NL is a Dutch impact investor committed to businesses and projects focusing on making The Netherlands more sustainable and innovative. To that respect, Microsure’s activities and goals fit right in our TOPSS program and thus we’re thrilled to be able to support Microsure on their exciting journey to further improve micro-surgery systems. High-tech innovation in key technologies is critical for the Netherlands in the future and will improve people’s lives.”

Tom Schwarz, chairman of the supervisory board representing Innovation Industries comments:

“This investment round enables the Microsure team to continue with their clinical evaluations, and in parallel to further advance their next generation systems. We are looking forward to the fruits of their work in clinical practice over the coming years.”