Mulder, a female-led and minority-owned medtech SaaS startup based in London, has secured €597k in a rolling pre-seed round led by SFC Capital to further its blockchain technology.
This funding round also included support from Innovate UK via a SMART Grant.
This funding will accelerate Mulder’s mission to tackle the transparency and compliance
challenges that complicate the medical device supply chain. Mulder is developing a
blockchain-powered platform specifically designed for MedTech manufacturers, offering
comprehensive solutions for regulatory compliance, recall management, and end-to-end
traceability.
Speaking about the funding milestone, Michelle Kuei, CEO of Mulder, remarked, “Securing SFC as our first institutional investor is a significant validation of our vision. With their support, alongside the backing from Innovate UK, we’re poised to accelerate our development, launch pilot programmes, and move closer to full commercial deployment.”
Founded in 2023 by Michelle Kuei, Sriya Deokar, and Prathyusha Kadivella, the leadership team combines expertise in healthcare innovation, regulatory frameworks, and technology development.
With an evolving regulatory landscape, Mulder’s launch comes at an ideal time. New
frameworks, such as the EU MDR and IVDR, are heightening requirements for device
traceability, post-market surveillance, and cybersecurity.
Additionally, advancements in medical device manufacturing—such as the integration of AI, IoT, and data analytics for supply chain optimisation—are increasing the demand for connected, transparent systems. Mulder’s blockchain-based solution is aligned with these trends, giving manufacturers a tool for navigating today’s complex regulatory landscape.
According to Mulder, the global medical device market is substantial, with a total addressable market estimated at £40 billion in 2024. Initially, Mulder will focus on the UK’s SME medical device manufacturer market. This strategic approach will serve as a launchpad for international expansion, targeting the US, EU, Japan, India, and Taiwan’s SME segments.
As Mulder prepares for its pilot phase, it is actively engaging with industry partners to participate in pilot programmes, allowing manufacturers early access to its platform. With the second tranche of its pre-seed round opening in early 2025, Mulder anticipates significant milestones that will pave the way for growth and future valuation increases.
Niklas Föltz, Marketing & Communications Manager at SFC Capital, shared his enthusiasm: “Mulder is leading a transformation in compliance within the medical device industry, addressing a critical need for innovation in this space. We’re excited to back the team on their journey and believe they will reshape how the industry operates.”
Read the orginal article: https://www.eu-startups.com/2025/01/female-led-medtech-mulder-secures-e597k-to-develop-medical-device-traceability/
