Germany-based biotechnology company Ayoxxa Biosystems GmbH raised €9m ($12.2m) on Thursday in a series B round featuring return backer High-Tech Gruenderfonds (HTGF), Germany’s corporate and state-backed venture fund.
The company’s other existing investors, commercial bank NRW.BANK and venture capital firm Wellington Partners Venture Capital, also took part, alongside new investors B-to-V Partners, Creathor Venture, HR Ventures and assorted angel investors.
The money will be invested in scaling up Ayoxxa’s proprietary biochip products.
Ayooxa, which was founded as a spinout of the National University of Singapore in 2010, raised $3.4m in a 2012 series A round led by Wellington that also included HTGF and NRW.BANK.