Endostart announced raising €8.2 million series B round backed by HTH, Progress Tech Transfer, Eureka! Venture et al

Italy Luxembourg 03 June 2021

Endostart, a Certaldo (Florence), Italy-based medical device company, announced the completion of a €8.2 million ($10M) series B round.

The money was raised from a range of investors including HTH, Progress Tech Transfer, Eureka! Venture, Liftt, Panakès Partners, Estor and A11 Venture.

Proceeds wll be used for the industrialization and commercial launch.

Endorail, founded in 2018 bY CEO Stefano Peroncini, developed an endoscopically guided catheter equipped with a magnetic balloon capable of facilitating rapid completion of the colonoscopy.

The device is used to facilitate the completion of the colonoscopy, by straightening and supporting the advancement of the colonoscope. The balloon, once magnetically anchored, allows for greater control of the procedure by the endoscopist, thus resulting in its completion. Endorail's technology also aims to reduce the time of execution of difficult colonoscopies, as well as pain, patient discomfort and costs of the operation.

Total investments received (USD): 11.1M