Bambi Medical raises EUR 4 million from private investors
Mar 7, 2018 2:17:03 PM. By: High Tech Campus
Dutch medtech start-up company Bambi Medical is developing a neonatal vital sign monitoring system called the Bambi Belt Solution. They have closed a financing round of EUR 4 million with private investors. This brings their total funding to date to EUR 4.5 million. The company will use the investment to finalize product development, conduct clinical trials and bring the Bambi Belt Solution to the market.
“Fund raising can take up lots of time from a start-up company, I am happy that we have successfully closed the financing round and can now focus again on our two priorities, product development and business development” said Fabio Bambang Oetomo, CEO and founder of the company.
Bambi Medical raised the amount from a number of Dutch private investors. “This type of funding by private investors is pretty unique for the Netherlands. Normally a round of this size would be raised with Venture Capitalists and regional development companies” stated Bambang Oetomo and added “This is more like how companies in Silicon Valley are often financed. Being able to do this here in the Netherlands makes us very proud.”
Main motivator for investors to invest in Bambi Medical was the combination of making an investment with a high impact and at the same time have the expectation of a good financial return. In addition to this the experienced team and strong Supervisory Board give confidence to our investors, said Bambang Oetomo.
Bambi Medical has already received lots of interest from hospitals. More than 20 hospitals from all over Europe and Asia signed LOI’s with the intention to participate in clinical trials and buy the Bambi Belt Solution once available on the market.
About Bambi Medical Founded in 2016 the Dutch start-up company Bambi Medical develops its first product a wireless neonatal vital sign monitoring system - the Bambi Belt Solution. The original concept for the system was created by neonatologist and founder of the company, Sidarto Bambang Oetomo at the department of Industrial Design at TU/e. The Bambi Belt Solution effectively measures vital signs (ECG, temperature, respiration) of premature babies in a skin friendly and wireless way.
The Bambi Belt Solution aims to replace the current global standard of adhesive electrodes. It will help reduce the pain and stress attributed to the use of adhesive electrodes. The Bambi Belt Solution will also facilitate easier handling by nurses and parents for optimized Kangaroo Mother Care, the skin-to-skin contact between parents and baby, which according to the World Health Organization has proven be essential for parent-child bonding while Improving long-term clinical outcomes.
On the product development side Bambi Medical collaborates with partners Holst Centre and ItoM. The company also works closely with the Maxima Medisch Centrum Veldhoven.