Idinvest and Kurma in €3m seed round for BioSerenity

The breakdown of the round has yet to be disclosed, but Kurma Diagnostics typically targets tickets around the €500,000 mark, according to unquote" data.

Having raised €33m at first close in May 2015, the diagnostics-focused vehicle targets seed rounds in companies still at a pre-industrialisation stage and provides support to businesses over a 12-24-month period. The round for BioSerenity represents the fund's maiden deal.

The company will use the capital increase to finance the development of its diagnostics solutions. These include a smart clothing-based epilepsy diagnostics system that provides doctors with continued encephalography data.

The investment marks the second joint foray by Kurma and Idinvest in the healthcare sector since the beginning of the year. In January 2015, the duo joined existing backers Novo, Sunstone Capital and Aescap Venture for a €20m series-B round into Danish biopharmaceutical company Orphazyme.

Company
Founded in 2014 by Pierre-Yves Frouin, BioSerenity is a healthcare company that specialises in manufacturing and selling smart-textiles for diagnostics purposes. The Paris-headquartered company designs clothing equipped with biometric sensors gathering data that is then stored in the cloud via a smartphone application.

People
Idinvest Partners was represented by its partner Nicolas Chaudron, while partner Alain Horvais led the seed round for Kurma. Pierre-Yves Frouin is founder and CEO of BioSerenity.

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• Topics
• France
• Healthcare
• Early-stage
• France
• IDInvest Partners (AGF Private Equity)
• Venture