LSP, Gimv et al. back iStar Medical €40m series-C

The financing was led by LSP and Gimv, with participation by Earlybird and BNP Paribas Fortis Private Equity. Existing shareholders including Capricorn Partners, Walloon Region Investment Fund (SRIW) and Belgian Federal Investment Fund (SFPI‐FPIM) also participated in the round

Gimv will invest €10m in total, according to a statement from the firm.

This financing will support the development of iStar's Miniject device along the path to commercialisation in Europe and the US.

Previous funding
iStar raised €4m in a series-A round co-led by the Capricorn Healthtech Fund and SRIW in 2013.

Three years later, the startup raised €10m in a series-B round. Taking part in the round were existing shareholders Capricorn Venture and SRIW, and new backers Belgian Federal Investment Fund, Fond Européen des Matériaux, Start-Up and several private investors.

Company
Founded in 2010, iStar is a medical devices company, developing ophthalmic implants for the treatment of glaucoma, the second leading cause of adult blindness globally affecting more than 92 million people.

The business is headquartered in Wavre.

People
iStar Medical – Michel Vanbrabant (CEO).

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• Topics
• Expansion
• Benelux
• Healthcare
• Belgium