Born2Grow leads series-A for Venneos

Seed investors High-Tech Gründerfonds (HTGF), the Max Planck Society and a consortium of business angels and family offices also took part in the financing.

The new funding will be used to expand the research and medical application base.

The value of the new round was not disclosed, though Born2Grow generally makes first investments of €500,000 and HTGF can now make total investments of up to €3m per company following tweaks to its investment terms.

Previous funding
In September 2015, HTGF, the Max Planck Society and private investment consortium Venneos Beteiligungs backed a €1m seed round for Venneos with the intention of hiring more staff and improving the prototype.

Company
Founded in 2014 and based in Stuttgart, Venneos is a spinout from the Max Planck Society. It develops and markets a silicon-chip-based imaging system for the analysis of biological cells. Potential customers are researchers in areas such as tumour biology, immunology and pharmacology as well as companies in the pharmaceutical and biotechnology sectors. The team consists of eight people.

People
Born2Grow – Günter Steffen (managing partner).
High-Tech Gründerfonds – Frank Hensel (senior investment manager).
Venneos – David Wehner (co-founder).

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• Topics
• Early-stage
• DACH
• Healthcare
• Venture
• Germany
• High-Tech Gründerfonds