Germany-based medical technology company Microstim secured series A funding worth €1.5m ($2m) on Thursday from a pool of Germany-based investors including federal state fund Technologiefonds MV, the corporate-backed venture capital fund High-Tech Gründerfonds and Fides Finanz-Invest, a division of the Jasika property group.
High-Tech Gründerfonds previously supplied seed financing to Microstim in February 2009, investing €500,000.
Founded in 2007, Microstim constructs implantable ventricular devices that assist the preservation of the heart’s muscle and tissue function. Microstim plans to use the funding to develop and market its muscle stimulator device.