Medtech startup Inovedis closes 7-digitseed financing round

The medical technology start-up Inovedis located in Albstadt has closed a financing
round of EUR 1.8 million, led by High-Tech Gründerfonds. The fund invests together
with MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg and
Volksbank Albstadt ChancenKapital and a group of renowned angel investors.
Inovedis is developing a new surgical technique for shoulder injuries based on a
PEEK implant. The optimal treatment result is achieved through simple, fast and
safe surgical technique.

Albstadt, Germany, 2021-06-01. 
The „rotator cuff“ describes the muscle-tendon that is located around the shoulder joint. The rotator cuff rupture is by far the mostfrequent injury of the shoulder. The SINEFIX implant system allows refixation of the tendon with a simplified surgical technique and is optimized for minimally invasive
surgery. The technique is easy and quick to learn for the surgeon, minimizing
complications due to surgical mistakes. As a result, in addition to improved results,
significant time and cost reduction can be expected. In the most important markets,
more than 5 million patients are surgically repaired at the rotator cuff every year. The
patented SINEFIX system will be launched in the USA in 2023. In parallel, the clinical
study for the approval process in Europe will start.
Dr. med. Stefan Welte, inventor of SINEFIX and co-founder of the Albstadt-based
medical technology start-up, explains: „During the development phase we focused
on keeping the operation as simple as possible while taking biology and
biomechanics into account.“ „We are very proud to have been able to win High-Tech
Gründerfonds as well as MBG and Volksbank Albstadt Chancen Kapital for our
project. It takes enormous effort and a huge amount of capital to bring a medical
product to market,“ notes founder and CEO Lukas Flöß. With the fresh capital, the
product development of the patented SINEFIX implant will be completed and the
market launch in the USA will be implemented.
„We were impressed by Inovedis‘ concept of designing an implant that promises a
better therapeutic outcome, whereas at the same time it fits into the established
procedures of surgeons. In addition, we are impressed by the determination with
which the Inovedis team is working on the development of SINEFIX,“ says Dr.
Caroline Fichtner, Principal at High-Tech Gründerfonds, explaining the reason for the
investment in Inovedis.

About Inovedis
Inovedis GmbH, located in the start-up and networking center in Albstadt, has been
founded in 2016. In 2019, the company started operations and began to develop the
implant. Initial funding for Inovedis GmbH was financed by the Startup BW PreSeed
and Startup BW Protect programs.
Media contact Inovedis
Inovedis GmbH
An der Technologiewerkstatt 1
72461 Albstadt, Germany
Lukas Flöß, CEO
Tel: +49 7432 13099 20

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 more than 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 more than EUR 3 billion into the HTGF portfolio via more than 1,700
follow-on financing rounds. HTGF has also successfully sold interests in more than
120 companies.
Investors in this public-private partnership include the Federal Ministry For
Economic Affairs and Energy, KfW Capital, and Fraunhofer-Gesellschaft e.V., as well
as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert
Bosch, BÜFA, CEWE, Deutsche Bank, Deutsche Post DHL, Dräger, Drillisch AG,
EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more
venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Generation
SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and
Wilh. Werhahn KG.
PRess release
Media Contact High-Tech Gründerfonds
High-Tech Gründerfonds Management GmbH
Stefanie Grüter, Head of Marketing & Communications
Tel: +49 228 82300 188
Investor Contact High-Tech Gründerfonds
High-Tech Gründerfonds Management GmbH
Dr. Caroline Fichtner, Principal/Prokurist
Tel: +49 228 82300 113

About MBG
MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg GmbH is a
private equity company investing in startups and entrepreneurs as lead and
co-investor. With their promotional regional mandate their task is to improve the
financing situation of start-ups and medium-sized enterprises in
Baden-Württemberg. This creates the basis for a solid company development and
further growth. Its current portfolio consists of approximately 760 investments of a
total volume of 214 million euros.
Investor Contact MBG
MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg GmbH
Frank Kraheberger, Leiter VC Fonds
Tel:+49 711 1645-772

About Volksbank Albstadt ChancenKapital
The Volksbank Albstadt ChancenKapital is a company of the Volksbank Albstadt eG.
The company supports the foundation of new companies with venture capital and
the expansion of the equity base of existing companies with mezzanine capital. This
makes Volksbank Albstadt eG the first bank in the district of Zollernalbkreis to
support the local economy in our region in this close and cooperative partnership.
PRess release
Investor Contact Volksbank Albstadt ChancenKapital
Volksbank Albstadt ChancenKapital GmbH
Markus Haug, Geschäftsführer
Tel:+49 7431 576151