HTGF's CorTec receives €3m series-A funding

Part of the capital will be used to launch the neurotechnology company's first product, AirRay, an electrode for clinical diagnostics. The rest of the funding will be used to start clinical phase trials for the implant based on CorTec's brain interchange technology.

HTGF, LBBW Venture Capital and K&SW Invest backed CorTec in its seed phase in 2011. CorTec is HTGF's second medical engineering portfolio company to have received funding within three days, with Capical receiving a series-A funding round on July 30. 

Company
CorTec was founded in 2010 and has been operating since 2011. It is based in Freiburg.

CorTec's brain interchange technology is design to measure and stimulate brain activity in chronic use. It is the first system within neurotechnology that monitors the reactions of the brain and calculates its further activity, according to the company.

People
Jörn Rickert is CorTec's CEO. Caroline Fichtner is senior investment manager at HTGF. Bernhard and Tobias Meder are M-Invest's co-founders.

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