Redwave Medical GmbH, a Jena, Germany based medical technology company, raised a round of funding from the Stiftung für Technologie, Innovation und Forschung Thüringen (STIFT) and Sparkasse Jena-Saale-Holzland.
Redwave Medical has developed software that allows for the measurement of aortic blood pressure as well as monitoring of the status of the arteries through standard arm cuff blood measurement devices. Aortic blood pressure is more relevant than peripheral blood pressure in terms of diagnosing and treating high blood pressure because important organs such as the heart, kidneys, and brain are directly impacted by the central blood pressure. Aortic blood pressure is therefore much more important for determining the risk of heart attack and stroke than peripheral blood pressure.
The two new investors join bm‑t, beteiligungsmanagement Thüringen gmbh, and angel investor Dr. Gerhard Scheuch in completing Redwave´s seed financing. Redwave will use the capital to complete its validation study and for its market entry in 2019.
About the Stiftung für Technologie, Innovation und Forschung Thüringen (STIFT):
The STIFT supports innovative technology companies in Thüringen within the framework of the ThEx Innovative project. Additionally, the STIFT invests in selected high-tech start-ups as a co-investor. In this activity, the level of innovation of the founding business plan and the corporate potential are the primary considerations
About Sparkasse Jena-Saale-Holzland:
The Sparkasse Jena-Saale-Holzland has been a strong and reliable partner in the region of Jena-Saale-Holzland for over 185 years. Through its large network of branch offices, customer advisors are closely positioned to the bank´s customers, and the bank is able to make important decisions quickly on location. From retail accounts to real estate brokerage and construction finance to commercial lending and advisory, the Sparkasse offers a complete array of financial services. As a public institute, the bank´s interests are in supporting the local economy and the people living in the region.
Erfurt-based, beteiligungsmanagement Thüringen (bm|t) – a subsidiary of the Thuringia Development Bank, is the first address for investments in Thuringia, Germany. bm‑t currently manages eight investment funds with a total volume of 320M EUR. bm‑t invests in innovative companies with strong growth potential across all sectors and all phases of the corporate lifecycle.
About Redwave Medical GmbH:
Redwave Medical GmbH was founded in May 2017 and specializes in the fields of bio-signal analysis and medical algorithms. Currently the company is developing the first algorithm for blood pressure arm cuffs in order to noninvasively measure the central blood pressure in the aorta and monitor arterial health.