In only 30 days Devicare, a company specialising in therapeutic urological solutions which has developed Lit-Control®, has closed the largest round of crowdfunding in health care in Spain with more than 1.6 million Euros through Capital Cell.
Devicare's initial goal was to raise 1.5 million Euros in the round to accelerate the company's growth, principally, to enter new markets and to finish the development of the Lit-Control® app.
In total, more than 150 small investors signed up as partners in the company “It is an honour for us here at Device that prestigious endourologists, patients, business angels and the employees themselves support our project” highlights Rosendo Garganta, the founder and CEO of Devicare. "This is undoubtedly an important step that allows us to continue working to position ourselves as an international benchmark in innovative urological therapies and to improve the quality of life for our patients". In addition to the crowdfunding round the company also received a 500,000 Euro participatory loan from Avançsa's Innova Global Line.
Daniel Oliver, the CEO of Capital Cell, claims “this is the highest fundraising total we've ever had in Capital Cell, which reflects how truly interesting this investment opportunity is. The round is now closed but the company will still accept investments over 5,000 Euros".
Devicare, with headquarters in the UAB Research Park, has recently announced business agreements in United States, United Kingdom, Malta and Algeria and is now present in 34 countries. The company has 5 products on the market (a medical device and dietary supplements), 49 patents, 6 clinical trials and 9 scientific publications.