hystrix raised CHF 3 million Series A financing round from Hirslanden Venture Capital AG and Steyn Group.

hystrix, a Langenthal (Bern), Switzerland-based business operating a B2B marketplace for contracting medical products, announced the completion of a CHF 3M ($3.3M) capital investment round.

The funding was provided by a range of local investors from Switzerland, professional and strategic, including Hirslanden Venture Capital AG, a subsidiary of Mediclinic International plc, the Steyn Group, a global investor with a legacy in online marketplaces, Marko Bekker, Group Executive in Corporate Finance at Mediclinic, and Jason C. Foster, Managing Director of Health Equity Consulting Ltd.

Marko Bekker and Jason C. Foster will also join the board of the directors, alongside Stephan "Essi" Fischer, representing the StartAngels Network (“SAN"), Stephan Wehrli, who led the 2018 seed financing round for Zühlke Ventures AG, and Philippe Hügli, CEO and founder of hystrix medical AG.

The money will be used to further develop strategic marketplace functionalities; support ongoing ERP integration projects; expand the user base and the corresponding product portfolios; and further internationalise the business model developed in Switzerland.

hystrix, founded in 2017 by CEO Philippe Hügli, acts as a link between suppliers and purchasers of medical devices, implants and related services, hystrix medical sits between both counterparties to a medtech procurement contract as an online digital marketplace and hub of market information for the healthcare industry, offering unprecedented efficiency realisation for healthcare providers and suppliers alike.

Prior to this deal, hystrix raised CHF 2.56M in two financing rounds in 2018 and 2019. The company also received a grant, as part of the European Union "Horizon 2020" programme, to conduct a European feasibility study of the digital marketplace.