Netherland-based medical device company ViCentra has closed a €10m investment round to fund its international growth plans.
As part of the round, ViCentra signed an agreement with new impact investor Invest-NL last month.
Invest-NL will invest €4m in the company, which will supplement a total round of €10m by existing investors INKEF Capital, LSP, Health Innovations and Kreos Capital.
ViCentra CEO Frans Cromme said: “We are proud that Invest-NL joins our investor group with their first investment. It confirms we have an innovative technological approach to alleviate the daily life of people with diabetes and a well-defined growth strategy.
“With this investment, we can realise our plans to scale our production capacity, commercialise our products in the Netherlands, UK, Germany and France and progress on our product pipeline. And we are grateful to have the continued support from our existing syndicate.”
Commenting on the latest development, Invest-NL CEO Wouter Bos said: “Invest-NL was founded to support Dutch companies, providing venture capital to innovative, fast-growing Dutch enterprises to allow them to scale faster.”
Founded in 2013, ViCentra develops, manufactures and markets small and light insulin pumps and other products for the treatment of diabetes.
The company’s flagship product Kaleido insulin pump is designed to help people with diabetes live life on their own terms. The product features a unique pumping mechanism and consists of two rechargeable pumps and a handset.
It was granted CE Mark and is commercially available in select European countries.