Series A for Munich-based medical technology start-up Mecuris
Munich — Mecuris GmbH, a Munich-based medical technology start-up focusing on the digitization of prostheses and orthotics, successfully closes a Series A financing round of €3.6 million. In addition to the existing seed investors Bayern Kapitaland High-Tech Gründerfonds (HTGF), Vesalius Biocapital, Mulcan International Investments and one of the top five hospital chains in Germany are newly on board.
Every patient is unique. The requirements that orthopedic technicians have to meet in their care are therefore just as complex — with constantly increasing cost and time pressure. For this reason, off-the-shelf orthoses or prostheses have often been used up to now. They serve their purpose, but do not fit ideally.
This is where Mecuris intervenes in the supply process. The young company aims to significantly improve the quality of life for patients while saving orthopedic technicians time and money. The aim is to work together with orthopedic technicians and wearers to design patient-specific orthoses and prostheses that are as individual in their functionality as they are in their design, color and structure. To this end, Mecuris provides orthotists with an easy-to-use online platform, the Mecuris Solution Platform, with which they can tailor orthoses and prostheses. These are manufactured using 3D printing and delivered within a few days. In addition, the start-up offers services for medical supply stores to transfer orthopedic products into a digital process chain, bring them to market quickly and make them scalable in sales.
The approach of using and monetizing digitization for personalized orthotics and prosthetics has convinced the new and existing investors. The founding team was able to attract three new investors for the Series A financing: Vesalius Biocapital III SICAR, MII Mulcan International Investments GmbH and one of the five largest hospital chains in Germany and Europe. The latter aims to open up digitization for its partners — the medical supply stores. In addition, the seed investors Bayern Kapital GmbH and High-Tech Gründerfonds Management GmbH (HTGF) have continued to support the company’s goals.
Mecuris will use the proceeds from the financing round to develop the European market and strengthen sales. In addition, the start-up will continue to develop new digital solutions to complement its own portfolio and fill market gaps that other players have not yet been able to serve.
About Mecuris GmbH
Mecuris works closely with certified orthotists (OTs) to bring orthotics & prosthetics into the digital age. By bundling 3D technologies in an intuitive Mecuris Solution Platform, Mecuris OTs are able to design customized orthoses & prostheses in a cost- and time-saving way, making their work much easier. OTs are enabled on the platform to customize product ideas for specific patients without CAD design skills and work with the wearer to realize design wishes. This improves the quality of life of the users enormously: they have the chance to quickly become active again and live their individuality. Thanks to CE marking and ISO certification, Mecuris products meet the highest safety standards and are reimbursed by all health insurance companies in Germany.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded in 1995 as a wholly owned subsidiary of LfA Förderbank Bayern on the initiative of the Bavarian state government. As the venture capital company of the Free State of Bavaria, Bayern Kapital provides equity capital to the founders of innovative high-tech companies and young, innovative technology companies in Bavaria. Bayern Kapital currently manages eleven investment funds with an investment volume of around 325 million euros. To date, Bayern Kapital has invested around 290 million euros of venture capital in 265 innovative technology-oriented companies from a wide range of sectors, including life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. As a result, more than 5,000 jobs have been permanently created in Bavaria in sustainable companies. www.bayernkapital.de
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances technology-driven start-ups with high potential. With a total investment volume of 892.5 million euros across three funds and an international partner network, HTGF has already supported 500 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, a team of experienced investment managers and start-up experts supports the development of young companies. HTGF focuses on high-tech start-ups in various industries, including software, hardware and life sciences/chemicals.
HTGF can point to success stories such as Mister Spex, Rigontec, 6Wunderkinder, Next Kraftwerke and Cumulocity, as well as Juniqe, an online store for art lovers. To date, external investors have contributed over EUR 1.9 billion to the HTGF portfolio via around 1,400 follow-on financing rounds.
About MII Mulcan International Investments
MULCAN is an international investment company focused on growth investments in the manufacturing, industrial and service sectors throughout Europe (with a particular emphasis on Eastern Europe), the Middle East and other developing countries.
About Vesalius Biocapital Partners S.à r.L
Vesalius Biocapital (Vesalius), the specialized life sciences venture capital investor, has been supporting human health companies through venture capital funds since 2007. Since its inception, Vesalius has raised over 260 million euros in three funds and contributed to the development of over 25 companies. The investment portfolio is balanced between investments in drug development and investments in non-drug development. In addition, Vesalius is committed to providing capital to science-backed innovation and ambitious entrepreneurs, with a focus on an exit within five years. www.vesaliusbiocapital.com