Next Generation Technology for Novel Therapies
CorTec’s technologies enable the recording from and the stimulation of the brain surface or the peripheral nervous system.
The core of CorTec’s technology is the closed-loop implant system. The Brain Interchange platform technology responds to the physiological state of the patient. It measures the brain signals of the patient, evaluates the data and autonomously adjusts stimulation to the current condition of the patient. This will allow a therapy that can be specifically adapted to the specific needs of the patient.
Closed-loop systems have a promising future on the rapidly growing market of neuroptherapy. CorTec is in the process of establishing itself as the development partner of choice and will gradually seize this market as the innovation leader.
In the fall of 2019, CorTec closed a further financing round, for which a new investor, Santo Venture Capital, the investment company of the Strüngmann family, was acquired. In addition to LBBW Venture Capital, several previously represented investors are participating in the financing round.
In spring 2016 CorTec has closed a series B financing. Mangold Invest could be attracted as a new investor whilst also the majority of the previous investors participated.
In addition to their investment, the company is funded by public subsidies for example from the German Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung, BMBF) and the European Union. CorTec is involved in several projects with partners from industry and research that contribute to the further development of CorTec’s technology.
In addition to significant public funding, CorTec has raised 4 rounds of financing.
We proudly introduce you to our current investors.
Mangold Invest bundles the industrial investments of the Mangold family (Stuttgart) under the management of Prof. Dr. Klaus Mangold and Dr. Christoph Mangold. Mangold Invest follows a long-term investment approach in the areas of private equity, real estate as well as agriculture and forestry. All investments are led personally and the management is either directly supported or guided over an active advisory board.
The company is a subsidiary of Mangold Consulting GmbH which was founded in 2003 by Prof. Dr. Klaus Mangold, a former member of the board of Daimler and chairman of the German Committee on Eastern European Economic Relations (Ostausschuss der deutschen Wirtschaft). Since then, the company advises successfully projects of well-known companies in Europe, Russia and Central Asia and has a distinctive network in German industry as well as in the mentioned regions.
High-Tech Gründerfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gründerfonds invests initially 1 million EUR in the seed stage, with the potential for up to a total of EUR 3 million per portfolio company in follow-on financing. High-Tech Gründerfonds has a total fund volume of around EUR 895.5 million.
Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, the Fraunhofer-Gesellschaft, as well as strategic corporate investors including ALTANA, BASF, Bayer, Boehringer Ingelheim, B. Braun, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, Evonik, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, Phoenix Contact, Postbank, Qiagen, RWE Generation SE, SAP, Schufa, SchwarzGruppe, Stihl, Thüga, Vector Informatik, Wacker and Wilh. Werhahn KG. High-Tech Gründerfonds has about EUR 895.5 million under management in three funds (EUR 272 million HTGF I, EUR 304 million HTGF II, Goal: EUR 316,5 million HTGF III).
LBBW Venture Capital GmbH is a wholly owned subsidiary of the Landesbank Baden-Württemberg. It offers venture capital financing for companies in the sectors IT, industrial technologies and life science. In addition to this, it administers the “Seedfonds BW” (seed fund Baden-Württemberg) together with the Mittelständische Beteiligungsgesellschaft Baden-Württemberg GmbH (MBG), specifically financing innovative start-up technology companies from Baden-Württemberg in cooperation with High-Tech Gründerfonds.
The K & S W Invest GmbH mainly works as a seed investor for internationally oriented German companies in the field of medical engineering. Klaus Würtenberger, who was already responsible for shaping the development of Berlin Heart GmbH as chairman and partner from 2001 to 2007, is the CEO of K & S W Invest. Klaus Würtenberger is also an accredited coach for High-Tech Gründerfonds, Bonn, and BWcon, Stuttgart.