5.2million Euros to fund Microscopy Development
May 12 2019 Read 243 Times
Eindhoven-based CytoSMART developers and manufactures of digital microscopes for monitoring live cell cultures, has received 5.2 million Euros to fund the growth of its business. New investor Eindhoven Venture Capital Fund II joined existing investors Holland Capital and BOM Brabant Ventures, to support expansion of products, international sales and marketing strategies.
Along with microscopes that can digitally and remotely count, screen, check and film cell cultures, the company has also created a wide range of options for using the collected images to conduct experiments in its own cloud service. The additional funding will be used for product innovation, expanding product functions and upscaling the company’s international sales and marketing.
“Since the series A round in 2016, our sales have shot up by over 300%” said Joffry Maltha, CEO of CytoSMART. “In order to continue growing, it is important that we keep innovating with our products and increase our investment in marketing and sales activities in the next few years. That means we will be focusing strongly on new image-analysis applications and continued hardware development.”
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