Xeraya Capital leads €20m Invendo funding

Xeraya was joined by existing investors TVM Capital, Wellington Partners, 360° Capital and the founding partners. A German family office also joined as a new investor. 

The fresh capital will be used to build a marketing and services infrastructure in the US, to enhance production capacity for its medical device and support ongoing development projects that address optics and ease of use. According to Invendo, colonoscopy is a huge market in the US, which sees 16 million procedures per year.

Previous funding
According to unquote" data, Invendo raised seed financing from Heidelberg Innovation. In April 2008 Wellington and TVM joined Heidelberg in a €4.5m capital commitment to the medical technology company. In April 2009, 360° committed a further €2m to the firm via its 2007-vintage 360 Capital One vehicle and installed general partner Diana Saraceni on Invendo's board.

Company
Originally founded in 1992 as STM Medizintechnik, the company changed its name to Invendo Medical in February 2006 to reflect its ambition to market itself internationally. Headquartered in Kissing, Germany, with an office in New York, Invendo manufactures and distributes a single-use and computer-assisted colonoscopy system.

Since the last funding round, Invendo has gained regulatory approval for marketing the product in the US and embedded a suite of proprietary technologies into its first product, the invendoscope. The product boasts robotic technologies and is the only single-use device in the field at the moment.

People
Berthold Hackl is CEO of Invendo, while Timo Hercegfi is CFO.

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• Topics
• Early-stage
• DACH
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• Wellington Partners