Dutch autonomous blood drawing company, Vitestro, has raised $22 million in funding. With this, the total funding raised by the company accounts for $50 million.
The investment round was led by return investor Sonder Capital and new investor NYBC Ventures, with participation from Invest-NL, the European Innovation Council Fund (EIC Fund), and existing private investors. Previously, the company raised €12 million in a Series A financing round.
Funds utilisation
The oversubscribed funding round will help accelerate the commercialisation of its robotic blood-drawing device in Europe and the company’s expansion into the US market.
Also, the company plans to use the funding to expand the team to meet the growing demand for its innovative robotic blood-drawing device and develop additional product features. Vitestro is also on track to obtain CE approval for its device by the end of 2024, with deployment efforts expected to begin in that same timeframe.
Autonomous blood drawing device
Vitestro was founded in 2017 by Toon Overbeeke and Brian Joseph. With a combination of AI, advanced imaging technology, and robotics, the company enables hospitals and labs to provide accurate and autonomous blood draws, reducing the need for manual handling and improving patient and clinician satisfaction.
Multiple Vitestro blood draw devices have already been pre-ordered and are scheduled to be deployed at several European hospitals starting at the end of this year to help ease the workload. In addition, these devices also provide a more consistent and improved patient experience.
Currently, it is leading the A.D.O.P.T. trial, which is the world’s largest evaluation of autonomous blood-drawing devices.
“We are honoured to continue working with Sonder Capital and proud to welcome NYBC Ventures, Invest-NL, and EIC Fund to the Vitestro team,” said Toon Overbeeke, Vitestro CEO and co-founder. “Early feedback from hospitals, staff, and patients has been overwhelmingly positive, and we are eager to quickly expand our reach and impact globally.”
“Vitestro’s revolutionary device is perfectly positioned to improve patient care and streamline operations for a medical laboratory market in crisis,” said Dr. Fred Moll, managing partner at Sonder Capital and the co-founder of Intuitive Surgical (NASDAQ: ISRG), the company behind the da Vinci surgical system. “As turnover and departures accelerate, staff are overwhelmed, and labs are challenged to deliver timely test results and satisfactory care. We are excited by Vitestro’s progress and believe they will modernise the blood draw experience.”
Brian Joseph, commercial director, and co-founder at Vitestro added: “Our technology represents a major step forward in healthcare innovation, benefitting both the institution and the patient. We are actively expanding operations to grow in other important international markets, particularly within the United States.”
