October 8, 2009
VC Firms, Early Bird Venture Capital and 360 Capital Lead €6 Million ($8,850,040.41) Investment in Series B Funding for BMEYE B. V.
Based in Amsterdam, one of Europe’s leaders in noninvasive cardiovascular monitoring technology, BMEYE B. V. announced today that it has just completed €6 million ($8,850,040.41) in series B funding from new investors, Early Bird Venture Capital and 360 Capital. Other investors who also participated in this round of funding include LSP or Life Science Partners and the Tech Fund.
BMEYE B. V. is one of Europe’s leaders in creating cardiovascular monitoring technologies which are both non-invasive and easy to use. The intent of this technology is not only to improve the quality of care that the cardiac patient receives while in the hospital, but also to reduce time spent in the hospital and the rising cost of medical care. The company both develops and markets the technology and allows for the technology to be used in a whole myriad of applications it the clinical environment. The primary function that BMEYE takes the most care to enhance is the non-invasiveness and user friendliness of the technology which is implemented in hemodynamic cardiovascular monitoring. BMEYE’s main product line is the Nextfin line of monitors, which provide a user friendly interface and a monitor that has highly sensitive finger sensors that can read the beat to beat rhythm of the heart from a finger. The Nextfin line of devices can measure heart beat, pulse, and blood pressure and the monitors provide the medical aids easy to use touch screens to easily read the data output of the machines.
The outlook for BMEYE is good, since the Nextfin product line has been approved by both the CE of the European Union and the FDA of the United States. This round of funding will allow the company to aggressively market the Nextfin product line and conduct future product development as well as improve its sales channel. Founded in 2005, BMEYE had closed a series A funding round in 2006, which was led by Life Science Partners.
According to BMEYE’s CEO, Rob de Ree; the team at BMEYE is very excited to have completed this round of funding during these tough financial times. Furthermore, the technology that BMEYE is developing is revolutionary and meets many unmet needs in the cardiology community. The fact that the company was able to win such a large investment truly validates its technology and product line.
As part of the agreement of this round of funding, Early Bird’s Thom Rasche will join the company’s board of directors. Mr. Rasche further stated that BMEYE truly has a product that is revolutionary and the success of the company can duly be attributed to the diligence of its top-notched management team. Furthermore, the fact that BMEYE’s technology passed tests and cleared all the requirements from both CE and the FDA, the company’s technology can have a cutting edge in the markets of both Europe and the United States.
The other lead investor is 360 Capital and Diana Saraceni, associated with 360, will continue to be a member of BMEYE’s board of directors as part of the funding agreement. She further added that the company’s technology is truly validated by the fact that it has cleared all the necessary requirements and is currently in use in many hospitals and clinics in both the United States and Europe.
Early Bird Venture Capital is one of Europe’s most successful vc firms and currently manages over €400 million ($590,002,693.94). The vc firm primarily invests in companies who are highly innovative and have serious management teams. The vc firm further invests in those companies who are in high growth industries and have the intention to expand into international markets. The geographical preference of Early Bird Venture Capital is the European Union, the United States of America, Switzerland, and the United Kingdom. Some other companies in Early Bird’s portfolio include ABAxx Technology AG, Azeti Networks GmbH, Identify Software, Alantos Pharmaceuticals AG, and others.
360 Capital is a vc firm that primarily invests in European companies and is managed with a team of seasoned venture capitalists. Currently, 360 has over €200 million ($295,001,346.01) under its management. Some other companies in 360’s portfolio include E-Blink, Electro Power Systems, Invendo Medical, VuPen, and others.
For more information about BMEYE B. V., click here.