# CorTec

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cortec

- Industry: Healthcare IT
- Headquarters: Freiburg im Breisgau, Germany
- Website: www.cortec-neuro.com
- Total disclosed funding: $7.3M
- Latest round: Series B (Jun 23, 2016)
- Investors on record: 5

## About

CorTec GmbH is a German company specializing in the design and manufacturing of advanced neurotechnological devices aimed at treating neurological disorders through innovative implantable solutions.CorTec GmbH, headquartered in Freiburg im Breisgau, Germany, focuses on developing implantable neurotechnological devices. Founded by Christian Henle and Christina Schwartz, the company has raised EUR 13 mn in its most recent funding round on October 15, 2019, led by Santo Venture Capital, with other investors including High-Tech Gründerfonds and KfW Banking Group. The total amount raised by the company stands at EUR 13 mn, with a current valuation of EUR 39.63 mn.CorTec specializes in the design, development, and manufacturing of active implantable neurotechnological devices for various neurological diseases. Their flagship product, the Brain Interchange System, plays a crucial role in both pre-clinical and clinical research, enabling the advancement of innovative therapies. The company's portfolio encompasses a range of implantable devices, components, and sub-assemblies tailored to meet the unique requirements of research institutions, healthcare providers, and medical device companies, with a client base spanning Europe, North America, and select markets in Asia.In 2023, CorTec GmbH reported a revenue of EUR 4,585,000 and an EBITDA of EUR 733,714.4 for the previous year. The company operates on a B2B model, primarily partnering with medical device companies and research institutions to provide custom implantable technologies. Their financial arrangements typically involve milestone payments and ongoing support contracts, emphasizing collaboration with industry leaders.CorTec plans to leverage its recent funding of EUR 13 mn to expand its presence in the US market while further developing the Brain Interchange Technology. Their growth strategy includes launching new products aimed at enhancing neurotechnological applications and targeting expansion into additional markets, specifically in North America and Asia, within the next few years.

## Funding rounds

- Series B, Jun 23, 2016 — KfW Banking Group, LBBW Venture Capital, High-Tech Gruenderfonds, M-Invest, Mangold Invest
- Series A, Feb 4, 2013, $4M — KfW Banking Group, LBBW Venture Capital, High-Tech Gruenderfonds, M-Invest
- Seed, Oct 5, 2011, $3.3M — LBBW Venture Capital, High-Tech Gruenderfonds

## Investors

- LBBW Venture Capital (https://capitalatlas.ai/funds/lbbw-venture-capital) — Seed, Series A, Series B
- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Seed, Series A, Series B
- KfW Banking Group — Series A, Series B
- M-Invest — Series A, Series B
- Mangold Invest — Series B