Germany-based medical device developer Coramaze Technologies has closed a €4.5m ($5.1m) series A round led by technology holding company led by Elron Electronic Industries.
The round also featured corporate-backed venture capital fund High-Tech Gruenderfonds (HTGF), SeedCapital Dortmund and undisclosed private investors. It followed a €1m seed round co-led by HTGF and SeedCapital Dortmund in February 2014.
Founded in 2013, Coramaze has designed a device that will be used for the minimally invasive treatment of heart valve diseases suffered by people considered unfit for surgery. The funding will support a first-in human clinical investigational study of its Mitramaze technology in 2016.
Ari Bronshtein, CEO of Elron Electronic Industries, said: “We expect that this market will develop into a multi-billion dollar opportunity. Coramaze is our first investment in Europe and we are looking forward to supporting the company’s approach with our expertise and strong network.”
– Photo courtesy of High-Tech Gruenderfonds Management GmbH