Darmstadt-based BIOVOX, a company pioneering sustainable bioplastics for medical applications, announced the successful closing of its €2.2 million seed round. The round was led by High-Tech Gründerfonds (HTGF) with significant participation from Beteiligungs-Managementgesellschaft Hessen mbH (BMH) and a group of existing and new investors including Auxxo, Otto Braun, Petra Wörwag and Katharina Klohe as well members of the business angel club better ventures and Business Angels FrankfurtRheinMain. The investment will enable BIOVOX to accelerate the development and production of its portfolio of innovative bioplastic solutions designed to revolutionise the healthcare industry.
The healthcare sector is – with 4.4% – a major contributor to global greenhouse gas emissions, with plastics in healthcare alone responsible for carbon emissions comparable to the total emissions of a Sweden or Denmark. Sterile single use medical products are essential for maintaining high hygiene standards and availability at a reasonable price point, yet healthcare cannot continue with the linear economy based on fossil resources, overstepping the boundaries of a healthy planet and therefore leading to more health problems in the long run.
BIOVOX is addressing this critical issue of a high-carbon linear economy in healthcare by having developed the world’s first sustainable medical-grade bioplastics for devices and packaging. The company produces and supplies biocompatible and sustainable plastics that meet the highest regulatory standards of today and tomorrow.
These innovative materials are bio-based, tested for biocompatibility, were developed and manufactured under BIOVOX’ ISO 13485-certified medical quality management system, and reduce the lifecycle carbon footprint by 50 to 85% compared to conventional virgin fossil plastics. BIOVOX’s line of bioplastics is designed for a wide range of medical, pharmaceutical and laboratory applications, including consumables, disposables, packaging, surgical instruments, and endoscopy devices. The materials meet the most stringent regulatory standards, ensuring high quality and patient safety.
The newly secured funding enables BIOVOX headed by founders and mechanical engineers CEO Julian Lotz, CTO Vinzenz Nienhaus and COO Carmen Rommel to scale operations by establishing a proprietary technical centre and to expand the sales and customer success team.
“With the support of our new and existing investors, we will scale the organisation to cater to all the customers currently waiting for our sustainable materials. Our pioneering products have already created a strong brand and a rich pipeline. Now we have the financial means to support our customers even better in developing a more environment friendly product range ready for the circular economy. Let’s create full traction for sustainable healthcare plastics,” said Dr.-Ing. Julian Lotz, CEO of BIOVOX GmbH.
Founded in 2021, BIOVOX is at the forefront of the sustainable healthcare market, setting the standard for bioplastic compounds made from renewable resources. More than 50 customers, including many segment leaders in medical devices, are working with BIOVOX to develop green healthcare solutions. One customer has already launched its first product using BIOVOX materials.
Tilmann Petersen, Investment Manager at HTGF, added: “With BIOVOX, we are funding a team of visionaries whose technological brilliance and deep understanding of regulatory affairs are revolutionising the development of sustainable plastics for the life sciences industry. Not only do they speak the customers’ language, but they have validated their solutions through numerous successful pilot projects and have already brought a product to market. Their contribution to reducing the carbon footprint in healthcare will be immense and we at HTGF are proud to support such a technology for a better environment and make it commercially successful.”
Read the orginal article: https://www.eu-startups.com/2024/09/germany-based-biovox-closes-e2-2-million-to-accelerate-development-of-sustainable-healthcare-plastics/
