Netherlands-based VIVOLTA, a startup that develops and manufactures electrospun medical products, announced on Tuesday, June 13, that it has secured €7M in a fresh round of funding.
The investment came from existing shareholders TIIN Capital, Lumana Invest, Borski Fund, and Brabantse Ontwikkelings Maatschappij, and the Dutch government’s NXTGEN HIGHTECH growth fund.
NXTGEN HIGHTECH aims to strengthen the Netherlands’ position as a significant leader in high-tech sectors and to help find answers to pressing social problems. The programme will invest up to €1B until 2030 with more than 330 partners, in over 60 initiatives, and in six crucial fields in order to accomplish this.
NXTGEN HIGHTECH claims to contribute to the Netherlands’ structural and sustainable economic growth and provide answers to the nation’s most pressing problems in the fields of energy transition, health, safety, and food.
“Guiding the body to heal itself”
Founded in 2008 by Ramon Solberg, VIVOLTA (formerly, IME Medical Electrospinning) partners with the healthcare sector for contract development and production of electrospun medical items that help the body repair itself. It does that by using its automated MediSpin production platform.
These medical products attempt to enhance patient lives while reducing problems by restoring and curing sick and damaged tissues.
VIVOLTA‘s MediSpin platform fixes the Achilles’ heel of medical electrospinning by eliminating operator-dependent inconsistencies, lowering scrap rate, and achieving the quality, volumes, and price points required by the medical industry.
This is made possible by its fully customisable modular design and integrated, automated quality systems.
The solutions offered by VIVOLTA can be used in a wide range of high-value therapeutic fields with unmet clinical needs, including medication delivery, soft tissue repair, orthopaedic sports medicine, and cardiovascular implants.
In the field of electrospinning, the company has made a contribution to the development of the first ASTM (American Society for Testing and Materials) standard for fibre-based medical scaffolds (F3519-21) published in 2021.
VIVOLTA says it will use the money to provide a comprehensive range of client-centred services, especially in the fields of application development, engineering, commercial support, quality assurance, regulatory compliance, and manufacturing.
The money will also help the company increase its ISO class 7 production area footprint in order to get ready for a number of customer projects that are slated to go into clinical and commercial testing over the next three years.
Additionally, VIVOLTA will increase the capacity of its MediSpin platform for the high-throughput manufacture of tubular electrospun goods such as vascular stent grafts and artificial heart valves.
Ramon Solberg, CEO of VIVOLTA, says, “These funds will enable us to further advance our initiatives to transform our partners’ design concepts into fully scalable commercial products.”
“Moreover, our MediSpin platform gives us a strong advantage by being able to commercially manufacture electrospun medical products with the quality, consistency, and volumes required by the medical industry.”
“By leveraging our unique in-house core competencies, proprietary technology, and the MediSpin production platform, we can play an important role in creating a broad array of high-value electrospun medical products with unmet clinical needs,” adds Solberg.