Dutch medtech Hy2Care secures €4.5M to launch clinical trial for cartilage repair implant

Dutch medtech Hy2Care has raised €4.5 million in new funding to prepare for a clinical trial in the United States and to support early steps toward commercialisation in Europe and other global markets.

Half of the new funding comes from the European Innovation Council (EIC) Fund, awarded in 2022 through the EIC Accelerator programme. The remaining capital was provided by Hy2Care’s existing shareholders, led by Brightlands Venture Partners, with new participation from LIOF, the regional development agency for the Limburg province.

Cartilage damage - often caused by injury, wear, or degenerative joint disease - is a leading cause of joint pain and immobility, with limited options for effective long-term treatment. As the global population ages and demand for less invasive, regenerative solutions increases, orthopaedic innovation has become a strategic investment area.

CartRevive is a proprietary hydrogel implant designed to repair damaged cartilage in a minimally invasive way, offering a potential alternative to more invasive surgical treatments. The need for scalable, regenerative solutions in orthopaedics continues to grow globally.

Hy2Care’s platform stands out in a medtech landscape where regenerative orthopaedics is forecast to grow significantly over the next decade. In the US alone, the cartilage repair market is projected to reach over $1.6 billion by 2030, driven by advances in biomaterials, sports medicine, and personalised orthopaedic solutions.

The funding comes shortly after the company received FDA Investigational Device Exemption (IDE) approval to begin clinical evaluation of its cartilage repair solution, CartRevive, in the U.S.

“This round gives us the momentum we need to take the next big step,” said Leo Smit, CEO of Hy2Care. “We’re entering a transformative phase - launching a US clinical trial while laying the foundation for commercialisation in EMEA. We are incredibly proud of the support from our investors, both existing and new.”

The EIC Fund is the equity investment component of the European Innovation Council’s Accelerator programme, which supports breakthrough technologies from early-stage innovators across the EU. The fund backs high-risk, high-impact ventures with global ambitions.