Strüngmann Group invests in CorTec

CorTec announced the closing of a 13 million euro financing deal. The lead investor is Santo Venture Capital, the investment company of the Strüngmann family.

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LBBW Venture Capital and several existing shareholders such as Mangold Invest, Meder Invest, KfW and High-Tech Gründerfonds are participating in the financing round, CorTec announced in November. On the basis of these investments, the company is planning the next expansion step with a site in the USA and the development of the next generation of Brain Interchange Technology.

According to the two CorTec CEOs, the entry of the renowned life science investors confirms the increasing relevance of neurotechnology and the growing importance of implantable solutions. Santo's expertise will help to further expand the company's technological capabilities and drive the Brain Interchange Technology forward.

CorTec's Brain Interchange Technology connects the brain and technology, enabling communication with the nervous system by means of artificial intelligence. As a closed-loop system, Brain Interchange can be tailored to the patient's acute therapy needs. This enables the development of new personalized therapies for neurological diseases such as Parkinson's, epilepsy or stroke. The next generation of the system provides further technical features such as an increase in the number of channels for even more precise therapy control.

From 2007 to 2011, CorTec was supported by the GO-Bio Initiative of the German Federal Ministry of Education and Research (read more). In both 2018 and 2019, CorTec was included in the list of the most innovative companies in Germany.