Utrecht-based Vitestro, a company specialised in autonomous blood drawing technology, announced on Tuesday that it has secured $22M (approximately €20M) funding, bringing the total raised to $50M (approximately €46M) from both equity investments and grant funding.
The latest funding round was co-led by existing 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 capital injection will help Vitestro accelerate commercialisation of its innovative robotic blood-drawing device.
Additionally, the Dutch company plans to use the funds to expand the team and develop additional product features.
Vitestro says 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.
“We are honored to continue working with Sonder Capital and proud to welcome NYBC Ventures, Invest-NL, and EIC Fund to the Vitestro team,” says Toon Overbeeke, Vitestro CEO and co-founder.
“Early feedback from hospitals, staff, and patients has been overwhelmingly positive, and we are eager to quickly expand our reach and impact globally,” adds Overbeeke.
The announcement comes over a year after raising €12M in a Series A round of funding.
Vitestro: Improving the blood drawing experience
Founded in 2017 by Toon Overbeeke and Brian Joseph, Vitestro aims to bring autonomous blood-drawing equipment to hospitals in Europe.
The company’s device combines AI-based, robotic needle insertion and ultrasound-guided 3D rebuilding to ensure precise and safe blood collection.
As a result, it reduces the need for manual handling and improves patient and clinician satisfaction.
It has already tested its prototype on more than 1,000 individuals.
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 the 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.
Brian Joseph, commercial director and co-founder at Vitestro adds, “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.”
The investor
Based out of Silicon Valley, Sonder Capital invests time, capital, and expertise in early-stage medical technology companies.
The Sonder Capital team includes veterans of the medical technology field, with decades of experience as founders, operators, and investors.
“Vitestro’s revolutionary device is perfectly positioned to improve patient care and streamline operations for a medical laboratory market in crisis,” says Dr. Fred Moll, managing partner at Sonder Capital and the co-founder of Intuitive Surgical, 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,” adds Moll.
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