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Vitestro Raises $22 Million for Autonomous Blood Drawing Device

Vitestro has revealed securing $22 million (€20 million) in funding to expedite the commercialization of its groundbreaking robotic blood drawing device. This brings its total raised capital to $50 million (€46 million), sourced from both equity investments and grants.

The funding round, oversubscribed and co-led by returning investor Sonder Capital and new investor NYBC Ventures, alongside participation from Invest-NL, the European Innovation Council Fund (EIC Fund), and existing private investors, is aimed at bolstering Vitestro’s commercialization efforts in Europe and facilitating its organizational expansion into the U.S. market.

“We are honored 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.”

Utilizing a blend of artificial intelligence (AI), advanced imaging technology, and robotics, Vitestro empowers hospitals and laboratories to execute precise and automated blood draws, mitigating the necessity for manual intervention and enhancing both patient and clinician satisfaction.

“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 modernize the blood draw experience.”

Several Vitestro devices have already been pre-ordered and are slated for deployment across various European hospitals by the end of this year, promising to alleviate workload burdens and enhance the overall patient experience. Additionally, Vitestro is spearheading the A.D.O.P.T. trial, recognized as the world’s largest assessment of autonomous blood drawing devices.

The recent funding infusion will enable Vitestro to expand its team to meet the escalating demand for its innovative robotic blood drawing device and to further enhance product functionalities. With plans underway to obtain CE approval for its device by the conclusion of 2024, deployment efforts are slated to commence within the same timeframe.

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.”

© Vitestro B.V

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