Bambi Medical, a Dutch company making a vital sign monitoring device for babies, has raised €4 million. The names of the private investors have not been disclosed.
The Bambi Belt is a device worn by the baby that monitors vital neonatal signs. It was developed as a replacement for adhesive electrodes, which can cause pain and stress. The new funds will be invested in refining the product, conducting clinical trials (20 hospitals have committed to trials) and preparing its market launch.
“This type of funding by private investors is pretty unique for the Netherlands. Normally a round of this size would be raised with venture capitalists and regional development companies” said Sidarto Bambang Oetomo, CEO.
According to a statement from the company, the investors were attracted to Bambi Medical for both its potential for high impact as well good returns in the medtech space.
The startup graduated from the HighTechXL accelerator and previously raised €500,000.