VIVOLTA, a startup headquartered in the Netherlands specializing in the development and manufacturing of electrospun medical products, revealed the successful completion of a recent funding round, raising an impressive €7M.
The €7M investment was secured from a group of existing shareholders, including TIIN Capital, Lumana Invest, Borski Fund, and Brabantse Ontwikkelings Maatschappij, as well as the Dutch government’s NXTGEN HIGHTECH growth fund.
NXTGEN HIGHTECH, a program with the objective of bolstering the Netherlands‘ prominence in high-tech industries and addressing crucial societal challenges, played a pivotal role in this funding round. By 2030, the program plans to invest up to €1B through collaborations with over 330 partners, supporting more than 60 initiatives across six vital fields.
NXTGEN HIGHTECH is committed to facilitating the Netherlands’ sustainable and structural economic growth while tackling urgent issues in areas such as energy transition, health, safety, and food.
VIVOLTA, founded in 2008 by Ramon Solberg, is a company that collaborates with the healthcare sector to provide contract development and production of electrospun medical products aimed at facilitating the body’s self-repair. Their advanced automated production platform, known as MediSpin, plays a pivotal role in achieving this goal.
These medical items are designed to improve patients’ lives by addressing tissue damage and promoting healing, thereby reducing complications.
VIVOLTA’s MediSpin platform addresses the challenges typically associated with medical electrospinning, such as operator-dependent inconsistencies, high scrap rates, and the need to meet specific quality, volume, and pricing requirements of the medical industry. The platform achieves this through its fully customizable modular design and integrated automated quality systems.
The solutions offered by VIVOLTA cater to various therapeutic fields with significant clinical needs, including drug delivery, soft tissue repair, orthopedic sports medicine, and cardiovascular implants.
In the realm of electrospinning, VIVOLTA has made a notable contribution by actively participating in the development of the first ASTM (American Society for Testing and Materials) standard for fiber-based medical scaffolds (F3519-21), which was published in 2021.
Usage Of The Investment
With the newly acquired funding, VIVOLTA aims to expand its range of client-centric services, particularly in the areas of application development, engineering, commercial support, quality assurance, regulatory compliance, and manufacturing.
A significant portion of the funds will be allocated towards expanding VIVOLTA’s ISO class 7 production area, ensuring readiness for upcoming customer projects scheduled for clinical and commercial testing within the next three years.
Moreover, VIVOLTA plans to enhance the capacity of its MediSpin platform, enabling high-throughput manufacturing of tubular electrospun products like vascular stent grafts and artificial heart valves.
Ramon Solberg, the CEO of VIVOLTA, expresses his enthusiasm, stating, “These funds will empower us to further advance our initiatives in transforming our partners’ design concepts into commercially viable products at scale.”
He further highlights the advantage of VIVOLTA’s MediSpin platform, which enables the commercial production of electrospun medical products with the precise quality, consistency, and volumes demanded by the medical industry.
By leveraging their in-house core competencies, proprietary technology, and the MediSpin production platform, VIVOLTA aims to play a crucial role in the development of a diverse range of high-value electrospun medical products that address unmet clinical needs, as Solberg emphasizes.