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Evonik Venture Capital invested in Meditool, a 3D printing startup in China that manufactures implants for neuro and spine surgery. Evonik is the lead investor in a high-single-digit €1MM round of fundraising for the company.
“This is our first direct investment in China and our first direct investment after initiating our second venture capital fund this year,” said Bernhard Mohr, head of Evonik Venture Capital. “Meditool is a good example of how venture capital is helping Evonik secure access to disruptive technologies.”
Meditool’s software reads and processes images directly from magnetic resonance imaging or computed tomography scans. A 3D model is generated, and implants are 3D-printed with Evonik’s PEEK polymer material.
“Meditool’s technology pays directly into our strategy of expanding in high-tech applications for our additive manufacturing materials,” said Thomas Grosse-Puppendahl, head of the Evonik’s innovation growth field Additive Manufacturing. “Medical applications are of particular interest and our high performance polymers have already been proven as a reliable implant material in other applications such as dental.”
“China is a key growth market for Evonik and one of the main drivers of innovation worldwide,” said Claas Klasen, President Evonik Asia North region. “It not only fosters leap-frog technology, it has the population and growing middle-class to drive fast-paced demand.”
Source: Evonik Venture Capital
