We are delighted to have advised Surgical Design Studio on its recent capital raise of $4,300,000. Icehouse Ventures led the round, followed by investors including UniServices, Eden Ventures, NZVIF and Sir Stephen Tindall’s investment arm K1W1.
The company plans to use the investment to commercialise and further develop innovative medical devices for patients recovering from bowel cancer and inflammatory bowel disease. One product, Active-Link, significantly reduces the recovery time of patients who have undertaken bowel surgery. A product launch in New Zealand is planned for later this year and subsequently overseas, pending Surgical Design Studio obtaining regulatory clearances.
Surgical Design Studio kick started its capital raising process by participating in Icehouse Ventures’ Demo Day in June, an event where a group of start-up companies pitch their ideas to a large and diverse network of investors.
Robbie Paul, Icehouse Ventures CEO, says that that Surgical Design Studio’s raise was the largest of the companies presenting at the Demo Day. This is an awesome achievement and we are stoked for the SDS team.
by ping lim, 6 September 2019