Healthtech
Q1 202419.02.2024

Medtech

Picture of Shubham Jaipuria

Shubham Jaipuria

at Sifted

With its capacity to diagnose, monitor, and treat individuals, medtech has emerged as the third most funded subset within the healthcare industry. In 2023, European medtech startups secured $2.1 billion in funding, marking a decrease from the $2.7 billion amassed by the sector in 2022, reflecting the general slowdown in technology investments last year. With startups focusing on the development of advanced imaging tools, remote patient monitoring devices, biomedical equipment, and surgical instruments, medtech companies are addressing a wide array of healthcare needs. Employing nearly a billion people, European medtech firms hold more than a quarter share of the global medtech market.

The pandemic years familiarized us (perhaps too intimately) with medical devices, as the demand for tests and ventilators surged by 100% or more in Europe. Nevertheless, medtech companies encounter prolonged development cycles and stringent regulations, factors that may deter certain investors. However, given that small and medium-sized enterprises (SMEs) constitute around 95% of the medtech industry, there exists ample room for startups to innovate in this sector and deliver substantial returns for investors.

20 most promising early-stage startups

  • BionIT Labs logo

    Sifted score

    7.87
    -

    BionIT Labs

    Customizable bionic hands for amputees.

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2018

    • HQ

      Lecce, Italy

    • Latest round

      Seed
      €3.5m / Nov 2021

    • Total funding

      €7m

    View company profile
  • LUMA Vision logo

    Sifted score

    7.39
    -

    LUMA Vision

    Real-time imaging for cardiac procedures.

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2017

    • HQ

      Munich, Germany

    • Latest round

      Series A
      €20m / Dec 2023

    • Total funding

      €56.3m

    View company profile
  • Onalabs logo

    Sifted score

    7.03
    -

    Onalabs

    Real-time biosensor for optimizing performance.

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2016

    • HQ

      Barcelona, Spain

    • Latest round

      Seed
      €1.8m / Oct 2023

    • Total funding

      €4.2m

    View company profile
  • Injectpower logo

    Sifted score

    6.87
    -

    Injectpower

    Long-lasting batteries for medical devices.

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2020

    • HQ

      Moirans, France

    • Latest round

      Seed
      €6.5m / Nov 2023

    • Total funding

      €6.5m

    View company profile
  • InVera Medical logo

    Sifted score

    6.87
    -

    InVera Medical

    • Strong investor(s)

    • Year founded

      2018

    • HQ

      Galway, Ireland

    • Latest round

      Seed
      €2m / Mar 2022

    • Total funding

      €7m

    View company profile

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