The Healthtech VC Heal Capital led the round with participation of HTGF and TruVenturo
Munich / San Diego, September 3rd, 2020. CereGate, a leading German neurostimulation company developing a software-based Computer-Brain-Interface (CBI), today announced the successful closing of a Series A financing round led by the new European healthtech VC Heal Capital with participation from the existing investors High-Tech Gründerfonds (HTGF) and TruVenturo. The parties agreed not to disclose any further details of the financing round.
CereGate is one of the worldwide leading players in the field of CBI. Its software augments existing therapies for neurological disorders like Parkinson’s disease and also develops revolutionary new therapeutic approaches. In 2020, CereGate has successfully completed an in humans proof of concept study with more than 15 patients. The new funding enables CereGate to continue the development and the clinical studies towards commercialization of first products.
To realize its clinical vision, CereGate has developed and successfully demonstrated a novel method to bring „mind writing“ capabilities to present-day conventional Deep Brain Stimulation and other neuromodulation systems. This effectively means, CereGate’s CBI technology is able to “write” or “transmit” information into the brain, rather than just passively conduct reading of or sensing ongoing neural activity.
“Being able to write information directly into the brain is a revolutionary step in the evolution of information interfaces. With our platform, we have everything in place to rethink the way we treat the role of external information in neurological therapy”, says founder and CEO of CereGate, Dr. Bálint Várkuti. “We are excited to start this next chapter of our journey together with our new partner.”
CereGate GmbH is headquartered in Munich, Germany, with an affiliated company CereGate Inc, headquartered in San Diego, USA. The company was founded in 2019 by Dr. Bálint Várkuti with a team combining decades of experience in neurotechnology and neuromodulation.
„State-of-the-art software for existing brain stimulating devices provides a tremendous opportunity to improve the patients’ quality of life”, says Eckhardt Weber, General Partner at Heal Capital. “With CereGate, Germany has a leading healthtech company in this field, which fits exactly in our investment scope and shows how the interplay of science, technology, and healthcare can have a huge impact on the future of how we enhance the treatment of complex diseases.”
CereGate is a software-based company in the Computer-Brain-Interface space, driven to develop new ways of interacting with the human brain through the latest technology. Its mission is to provide patients with neurological disorders or sensory deficits with new opportunities to adapt and improve their condition under their own power, increasing patient independence while improving quality of life are the guiding principles.
About Heal Capital
Heal Capital is a leading European venture capital fund with a target volume of 100 million euros. The fund invests in technology-enabled healthcare champions at series A stage, that are actively driving the innovation of healthcare. Heal Capital provides capital, know-how, and market access through leading private healthcare insurers as fund investors. Additionally, Heartbeat Labs and Flying Health are invested as anchor investors, complementing the Heal Capital team with expertise in building and scaling digital health companies. The fund was launched under the umbrella of the Association of the German private healthcare insurers in 2019 and is led by Eckhard Weber and Dr. Christian Weiß as managing partners.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.5 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies.
TruVenturo is one of the most successful early stage investors and company builders in Europe. For over a decade TruVenturo has been investing at the forefront of digitalization and life sciences, always focusing on identifying big future markets and disruptive business models. Therefore, the team is a strong believer in pharma to prevent age related disease and prolong healthy human lifespan as well as utilising neurostimulation technologies to create bi-directional Computer-Brain-Interfaces. TruVenturo’s current portfolio includes over 20 companies, among them several industry leaders and hidden champions.
CereGate: Dr. Balint Varkuti I email@example.com
Heal Capital: Konstanze Pflüger I firstname.lastname@example.org I +49 (0)157 806 096 91
High-Tech Gründerfonds: Tobias Faupel I email@example.com
TruVenturo: Florian Haupt I firstname.lastname@example.org