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Venture firms inject €20.3m into colonoscopy system developer Invendo

20 Mar 2014

water_blueXeraya Capital has led a €20.3m financing round for computer-assisted colonoscopy system maker Invendo Medical.

An unnamed German family office also took part in the round as a new investors alongside TVM Capital, Wellington Partners, 360° Capital and the company founders.

Invendo said the fresh funding would be used to build a marketing and service infrastructure in the US, to enhance production capacity for the device and to support ongoing development projects that address optics and ease of use.

Berthold Hackl, CEO of Invendo, said, “We are very excited about Xeraya Capital and the other investors supporting us with this new funding which comes at precisely the right time as we are building first installations and initial usage in the US.

“Colonoscopy is already a huge market, with at least 16 million procedures per year in the US alone, although compliance remains insufficient.”

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