Both current investors and new investors support TracInnovations in their efforts. “West Hill is delighted to be supporting TracInnovations which we believe is a groundbreaking MedTech company that has a very real potential not only to dramatically improve medical diagnosis and therefore give better patient outcomes, but also enable €millions in cost savings every year,” said Robert Caie, Managing Partner of West Hill Capital.
The whole TracInnovations team is proud to announce the closing of a significant fundraising round from both current and new investors. Closing occurred during July and with it came very strong additions to our group of shareholders, enabling us to grow as a company and ensure the MRI scanner market is catered to with the highest quality motion tracking and correction available. With the fundraising round came changes to our management team as well as our board of directors.
In addition to the investments secured earlier this year from Investo Capital and Syddansk Innovation, a complementary investment has been undertaken with a consortium of private investors from US and Denmark. These include Dale Flanders, David Hardwick and Jes Broeng, all of whom come with a strong entrepreneurial background in combination with a comprehensive experience from medical science and technology driven companies.
Investo Capital has entered into an investment agreement with TracInnovations, one of Denmark’s rising stars in the field of advanced medical technology. The investment will help TracInnovations further develop the company’s unique technology, which enables magnetic resonance imaging (MRI) scans of children and adults who struggle to lie still during the scan. This is expected to contribute to a reduction in the use of general anaesthetic during MRI scans as well as a significant reduction in the need for subsequent rescans.