Vitestro raises US$12.7 million in Series A financing round to bring the world's first autonomous blood drawing device to the European market
Utrecht, The Netherlands, 20 March 2023 –
- Round led by US based Sonder Capital, alongside existing and new private investors
- Device will cause a paradigm shift in reproducible quality and availability of blood drawing and supports a sustainable healthcare system
- Pivotal clinical studies to start end of 2023 and market introduction anticipated in the course of 2024
Vitestro, developer of an autonomous blood drawing device, announced the completion of a US$12.7 million Series A financing round. California-based Sonder Capital led the funding round alongside existing investors and new private investors with experience in the clinical laboratory and MedTech industry. The proceeds will be used to accelerate product development, prepare EU marketing authorization, and initiate production.
Toon Overbeeke, CEO and co-founder of Vitestro says: “This financing round marks a new phase of growth for Vitestro which brings the company closer to its mission of improving the venipuncture procedure for hundreds of millions of patients per year. We look forward to growing the business and transforming patient care with Sonder Capital, leveraging their expertise in successfully commercializing medical robotic technologies.”
Dr. Fred Moll, Managing Partner of Sonder Capital, was appointed as non-executive board member of Vitestro. Dr. Moll has been called ‘the father of medical robotics’ after successfully co-founding Intuitive Surgical, Inc. (NASDAQ:ISRG), Hansen Medical (NASDAQ:HNSN), Restoration Robotics (NASDAQ:HAIR), and Auris Health (acquired by J&J). “Medical robotics will make optimal outcomes available to everyone. I strongly believe Vitestro will set the world standard in autonomous blood drawing,” comments Dr. Moll. Blood drawing is performed billions of times per year worldwide. It holds a pivotal role in clinical diagnostics yet is impacted by shortage of skilled healthcare workers. ”Automating this ubiquitous procedure is the next evolution for clinical laboratories, allowing them to improve quality of care for patients while building a more sustainable operation," says Andy McGibbon, Managing Partner of Sonder Capital.
Vitestro’s device combines AI-based, ultrasound-guided 3D reconstruction with robotic needle insertion, ensuring accurate and secure blood collection. A prototype has been tested in more than 1,000 patients. Clinical studies will continue in 2023, with European market introduction anticipated in 2024. Brian Joseph, co-founder and commercial director of Vitestro, says: “Sonder Capital has a track record of creating lasting value for patients and hospitals. Vitestro’s long-term commitment to its customers will be supported by this partnership.”About Vitestro
In 2017 Vitestro’s founders rose to the challenge to create a better blood drawing experience. Today Vitestro is well underway to achieve its goal with a committed team of 40 highly skilled people with a track record in medical robotics, imaging software, AI, QA/RA and business development. Vitestro is based in Utrecht, The Netherlands.
For more info please visit www.vitestro.com
.About Sonder Capital
Sonder Capital is a venture capital firm based in Burlingame, California. Sonder Capital invests in teams and technologies that can transform healthcare in the medical device, diagnostic and healthtech sectors. The company considers itself as Foundational Investors – committing its energy and capital early to guide and support companies from inception to acquisition or IPO. Sonder partners with entrepreneurs who have a passion for making an impact on patients’ lives and are inventing transformational technologies and business models. For more info please visit www.sondercapital.com