CHF 2.54 million Seed financing round for Lumendo

Lumendo announced today the closing of a CHF 2.54 million financing round to bring its novel endodontic treatment platform into clinical use. The financing round was led by Dominik Lysek, PhD, partner at US-based Revere Partners. Co-investors were Zürich Cantonal Bank and Business Angels Switzerland.

Lumendo CEO, Andreas Schmocker, PhD, commented: “This Seed financing round is a major milestone for Lumendo. It allows us to translate our prototypes into a clinical workflow, ultimately moving closer towards the goal of disrupting the endodontic device and consumable market. The clinical proof of concept and validation with a prototype produced under ISO 13485 is the most important milestone on the path of getting market approval for our products, and make Lumendo a success”.

Dominik Lysek, partner at Revere Partners confirmed, that: “being one of the world’s top innovators in the financing of oral health startups, we strongly believe in the potential of Lumendo’s offering of a minimally invasive endodontic treatment solution. We are convinced that by providing faster and more ergonomic procedures we will improve treatment efficacy and success and thus enable a more reliable patient outcome. The ingenuity of Lumendo’s technology will allow it to penetrate the market quickly and efficiently.”

Investor interest exceeds expectations

Incorporated in Switzerland in 2018 as Spin-off of the two Swiss Federal Institutes of Technology – École Polytechnique Fédéral de Lausanne (EPFL) and Eidgenössische Technische Hochschule Zürich (ETH) – Lumendo is a well-recognized upcoming disruptor in the field of endodontics. Focusing on product excellence and a strong innovation stream, the goal of Lumendo is to develop easy-to-apply, reliable, and novel products to treat unsolved medical challenges. The company’s first products are planned to be launched in 2024. Due to the high interest, the initially planned closing round of CHF 1.8 million has been oversubscribed. Furthermore, the Lumendo management and board will accept additional funds until Q1 2022.

(Press release - ES)