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Autonomous Blood Drawing Company, Vitestro Secures $22 Million in Funding – FUNDING NEWS

May 1, 2024 | By Startup Rise EU

Utrecht-based, Vitestro, the pioneering autonomous blood drawing company, secures $22 million in funding to accelerate commercialization of its innovative robotic blood drawing device. This brings its total funding raised to $50 million (€46 million) from both equity investments and grant funding.

Utrecht-based, Vitestro, the pioneering autonomous blood drawing company, secures $22 million in funding to accelerate commercialization of its innovative robotic blood drawing device. This brings its total funding raised to $50 million (€46 million) from both equity investments and grant funding.

Co-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, the oversubscribed funding round will support Vitestro’s commercialization in Europe and its organizational expansion into the U.S. market.

Toon Overbeeke, Vitestro CEO and co-founder said, "We are honored to continue working with Sonder Capital and proud to welcome NYBC Ventures, Invest-NL, and EIC Fund to the Vitestro team,” “Early feedback from hospitals, staff and patients has been overwhelmingly positive, and we are eager to quickly expand our reach and impact globally.”

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Through a combination of artificial intelligence (AI), advanced imaging technology, and robotics, it enables hospitals and labs to provide accurate and autonomous blood draws, reducing the need for manual handling and improving patient and clinician satisfaction.

Read also - Biotech company Vivalyx Raises €5.4Million in Seed Funding – FUNDING NEWS

Dr. Fred Moll, managing partner at Sonder Capital and the co-founder of Intuitive Surgical said, "Vitestro’s revolutionary device is perfectly positioned to improve patient care and streamline operations for a medical laboratory market in crisis, 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.”

Multiple Vitestro 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 workload and provide a more consistent, improved patient experience. Vitestro is also currently leading the A.D.O.P.T. trial, the world’s largest evaluation of autonomous blood drawing devices.

It plans to use the most recent funding to expand the team to meet the growing demand for its innovative robotic blood drawing device and develop additional product features. It is on track to obtain CE approval for its device by the end of 2024, with deployment efforts expected to begin in that 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.”

About Vitestro

Founded in 2017, Vitestro is committed to improving the blood draw experience for patients and clinicians. With its revolutionary autonomous blood draw technology and a team of more than 70 highly skilled specialists in medical robotics, artificial intelligence, imaging software, and healthcare commercialization, it is transforming the blood draw industry globally

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