HTGF et al. exit Medineering

The acquirer of the company is developer and manufacturer of medical technology and software Brainlab, which is based in Munich. Brainlab has wholly acquired Medineering.

At the time of HTGF's initial investment, the firm typically invested €500,000 in seed rounds. Bayern Kapital used its Seedfonds Bayern fund, which closed on €22m in 2003, to invest in Medineering. Born2Grow also invested up to €500,000 in early-stage companies.

Following the transaction, Medineering plans to benefit from greater scalability for the company's technology and improved market access.

During the VCs' holding period, the company won several patents and began generating revenues from the sale of its products.

Previous funding
In 2014, HTGF, Bayern Kapital, Born2Grow and business angels Michael Friebe and Tobias Ortmaier participated in a seed round for the company.

In 2016, Brainlab joined the other investors in a series-A financing round. The company also entered into a formal partnership and Brainlab began marketing the Medineering product under the name Cirq.

Company
Medineering develops application-specific robotic technologies. Their main product is a robotic arm for use in ENT surgeries. The company is headquartered in Munich and was founded in 2014.

People
High-Tech Gründerfonds – Ulrike Kalapis (investment manager).
Bayern Kapital – Georg Ried (managing director).
Born2Grow – Günter Steffen (managing director).
Brainlab – Stefan Vilsmeier (president, CEO).
Medineering – Stephan Nowatschin (co-founder, CEO).

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