Successful seed financing for Virtonomy
The start-up from Munich wants to accelerate approval processes in medicine. A state investor is also involved.
Virtonomy receives seven-figure seed funding. Lead investor is Dieter von Holtzbrinck Ventures. The VC company of the Free State of Bavaria, Bayern Kapital, as well as Initiative for Industrial Innovators and Plug and Play are also participating.
Virtonomy was founded in 2019 and works to make approval processes in medicine faster, cheaper and safer. Products should no longer be tested only on humans and animals, but virtually. The company builds virtual, customizable anatomies of human bodies for this purpose. Manufacturers of medical devices, such as implants, can use Virtonomy to test their technologies on this virtual patient at all stages of development.
The investment will be used to further develop the technology, build the database and recruit new staff. "From the beginning, we wanted to develop a solution that has not only economic but also social benefits," explains Simon Sonntag, CEO of Virtonomy. "The development of new, medical technology products is still particularly time-consuming and cost-intensive. That's why young companies like us that want to make a difference in this industry are also dependent on strong capital support during the start-up and growth phase."
Investors also see potential. "In the digitization of healthcare, there is still enormous potential for developing innovative solutions and building market leaders. Virtonomy scores with its innovative idea in several ways: a promising, scalable product with the potential to make the development of medical products more efficient, faster and safer," says Georg Ried, managing director of Bayern Kapital.
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