BIOVOX, a German startup specialising in sustainable bioplastics for medical applications, has secured €2.2 million in seed funding. The round was led by High-Tech Gründerfonds (HTGF) that invested in ABH Optics and Symphera, with significant participation from Beteiligungs-Managementgesellschaft Hessen mbH (BMH) and a group of existing and new investors, including Auxxo (which recently backed Exakt Health and einwert), Otto Braun, Petra Wörwag and Katharina Klohe as well members of the business angel club better ventures and Business Angels FrankfurtRheinMain.
Funds utilisation
The investment will enable BIOVOX to accelerate the development and production of its portfolio of innovative bioplastic solutions designed to revolutionise the healthcare industry. It will also scale operations by establishing a proprietary technical centre and expanding the sales and customer success team.
Tilmann Petersen, Investment Manager at HTGF, said: “With BIOVOX, we are funding a team of visionaries whose technological brilliance and deep understanding of regulatory affairs are revolutionising the development of sustainable plastics for the life sciences industry. Not only do they speak the customers’ language, but they have validated their solutions through numerous successful pilot projects and have already brought a product to market. Their contribution to reducing the carbon footprint in healthcare will be immense and we at HTGF are proud to support such a technology for a better environment and make it commercially successful.”
What challenge does it tackle?
With 4.4%, the healthcare sector is a major contributor to global greenhouse gas emissions, with plastics in healthcare alone responsible for carbon emissions comparable to the total emissions of Sweden or Denmark. Sterile single use medical products are essential for maintaining high hygiene standards and availability at a reasonable price point, yet healthcare cannot continue with the linear economy based on fossil resources, overstepping the boundaries of a healthy planet and therefore leading to more health problems in the long run.
BIOVOX is addressing this critical issue of a high-carbon linear economy in healthcare by having developed the world’s first sustainable medical-grade bioplastics for devices and packaging.
Produces biocompatible, sustainable plastics
Founded in 2021 by Julian Lotz, Vinzenz Nienhaus, and Carmen Rommel, the company produces and supplies biocompatible and sustainable plastics from renewable resources that meet the highest regulatory standards, such as VDI 2017.
These innovative materials are bio-based, tested for biocompatibility, were developed and manufactured under BIOVOX’ ISO 13485-certified medical quality management system. These reduce the lifecycle carbon footprint by 50 to 85% compared to conventional virgin fossil plastics.
Its line of bioplastics is designed for a wide range of medical, pharmaceutical, and laboratory applications, including consumables, disposables, packaging, surgical instruments, and endoscopy devices. The materials meet the most stringent regulatory standards, ensuring high quality and patient safety.
Use cases and customers
Its innovative bioplastics can be used in a wide range of medical applications, offering a sustainable alternative to conventional plastics and ensuring patient safety. More than 50 customers, including many segment leaders in medical devices, are working with BIOVOX to develop green healthcare solutions. One customer has already launched its first product using BIOVOX materials.
“With the support of our new and existing investors, we will scale the organisation to cater to all the customers currently waiting for our sustainable materials. Our pioneering products have already created a strong brand and a rich pipeline. Now we have the financial means to support our customers even better in developing a more environment-friendly product range ready for the circular economy. Let’s create full traction for sustainable healthcare plastics,” said Dr.-Ing. Julian Lotz, CEO of BIOVOX.
