23.07.2013

CorTec Closes Second Financing Round

Just two years after seed financing CorTec announces the closing of another round of investment. M-Invest and KfW banking group are now joining the round of investors engaged with CorTec. Their investment will support the market launch of AirRay, CorTec’s first product. Furthermore, the company plans to start into the clinical phase with the implant based on CorTec Brain Interchange technology.

„With M-Invest we found a very active investor who gives us great support also in entrepreneurial aspects”, comments CorTec CEO Dr. Jörn Rickert on the closing. “We are very pleased that also the KfW is taking this step with us. This investment round will take us a decisive step towards the approval of our highly innovative closed-loop system.”

CorTec’s Brain Interchange technology allows measuring and stimulating brain activity in chronic use. The system works in a closed loop which means that it monitors the reactions of the brain and calculates its further activities based on these data. Systems of this kind, especially with a comparably high number of channels, are not yet available so far. CorTec thereby pioneers a major innovation in the field of neurotechnology.

With AirRay CorTec is about to introduce an improved electrode for clinical diagnostics and research onto the market. Thanks to a special laser-based manufacturing process the electrode is thinner and more flexible than currently available products. For an even more precise measuring the product can contain a big number of micro-contacts that do not affect the flexibility of electrode.

High-Tech Gründerfonds (HTGF), LBBW Venture Capital and K & S W Invest have been investing in CorTec so far. Besides, the company receives public subsidies from the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung, BMBF) and is industry partner of the excellence cluster BrainLinks-BrainTools at the University of Freiburg.

Download the press release:

CorTec_Press Release_01-2013

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CorTec’s investors