Berlin – Medical technology startup Smarterials Technology GmbH has successfully closed its second round of financing. Led by High-Tech Gründerfonds (HTGF), pre-seed investors Think. Health Ventures and Emanet are investing a total of nearly €1 million in the Berlin-based company. The new funding will be used to complete final development steps and prepare production for the mass market.
Based on innovative materials, Smarterials Technology develops surgical gloves with a double barrier function and perforation indicator that help reduce the risk of injury and infection among healthcare workers. This helps to avoid follow-up costs due to contamination with potentially infectious foreign blood - an estimated 500,000 cases with follow-up costs of up to 1,600 euros per case in Germany alone. In addition, the innovative double-layer gloves speed up the donning process, thereby improving workflow in hospitals and care facilities.
The Smarterials team was also able to convince the EU Commission of their innovative product and will receive grants of 1.85 million euros as part of the Horizon 2020 SME Instrument (Phase II) funding program.
Prof. Dr. Hans-Eric Rasmussen-Bonne and Andreas Michael provided comprehensive legal advice to Smarterials at the Berlin office in this financing round. The law firm Weitnauer regularly represents both investors and companies in financing rounds.
About Smarterials Technology GmbH
Smarterials Technology GmbH, located in the Berlin-Adlershof Technology Park, was founded in 2016. The company develops medical products based on innovative materials that help reduce the risk of injury and infection for employees in the medical and care sectors. Start-up financing for the company was provided by Investitionsbank Berlin (IBB).