RSP Systems completes its Series B funding round with a second closing of $4.5M

Denmark Investments 07 September 2018
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RSP Systems, an Odense, Denmark-based non-invasive diagnostics company, announced a second closing of EUR 3,85M ($4.5M) for its series B funding round that was secured in June 2018. The total round amounts to EUR 10,35M ($12M).

The funding was supported by existing and new investors including Trumpf Venture, the corporate venture arm of Trumpf Group, as well as family offices and private investors, such as Jürgen Hambrecht, Chairman of the Board of BASF and Andreas Jenne, RSP Systems’ new CEO.

The investment will be used to fund clinical trials and to prepare for regulatory approval and market launch in Europe.

RSP Systems was founded in 2006 as spinoff from Odense University by Olav Storm Kjestrup, Morten Henneberg, Thomas Juhl and Stefan Oversen Banke. The company offers the world’s first robust Raman spectrometry system for medical diagnostics and aimed for glucose monitoring, having developed a prototype which shows target performance in clinical studies on diabetic patients at Odense University Hospital. The company uses this platform for its first non-invasive glucose monitor for diabetic patients.