Surge-on Medical’s European Equity Crowdfunding Reaches First Milestone

The joint effort to create the first European equity crowdfunding campaign is now a reality. Surge-on Medical, together with the German crowdfunding platform Aescuvest and EIT Health, officially launched the equity crowdfunding campaign on August 27 in Berlin.
 
With the support of early-bird investors, the campaign has now surpassed the 150,000 euro investment mark, and keeps welcoming new investors.
 
Surge-on Medical targets to raise up to 3 to 5 million euro
The rising star in the segment of surgical instruments is developing and selling fully steerable, quick detachable and easy to clean instruments for minimal invasive arthroscopy and laparoscopy. The company is setting new surgery standards to deliver better healthcare. Using cable-free technologies, they have created freedimensionally movable instruments that provide better access to surgical areas and replace the current fixed-angle instruments.
 
Surge-on Medical has obtained four international patents that represent a major advance in minimally invasive instruments, improving existing surgical techniques and making them more efficient. With its engineers, they are developing the future of remote-controlled robotics in precision surgery. The modular and reusable instruments are ready to be connected to robots, as validated for a US surgery robot builder. All instruments are jointly developed by a dozen active surgeons. The Steerable Punch—the first commercialized product—is approved by the Medical Ethical Committee and Instrument Sterilization Department of the largest hospital in the Netherlands.
 
Via aescuvest.eu, the company now intends to raise 3 million euros by ways of a prospectus-based security offering, valuing the company at 33.36 million euros. With an subscription reserve the maximum placement volume can reach up to 5.0 million euros, corresponding to a 12.74 percent share in the company. Investments will be bundled in an SPV, that will become one shareholder of the company and as such will fully participate in the value development of Surge-on Medical.
 
“The proceeds of the funding shall be used to accelerate the scaling of Surge-on Medical”, explained Benno Groosman, CEO and co-founder of Surge-on Medical N.V. “The company has already sold demos at the full target price and many distributors are ready to add our products to their portfolio. With our competitively priced and easy to use platform technology we will make precision and robotic surgery available to a broad range of users.”
 
New funding platform set to foster and fund innovations from European healthcare start-ups and SMEs by European citizens
For the first time, a cross border crowdfunding campaign based on a prospectus-approved securities offering enables private investors to invest online alongside with business angels and venture capitalists to benefit from the growth potential of early-stage growth companies. “Our ambition was, to let not stop public funding of healthcare ventures at national borders”, commented Dr. Patrick Pfeffer, CEO & founder of aescuvest. “After the successful launch of the Surge-on Medical funding, we are looking forward to soon be able to present a series of exciting health innovators from all over Europe on aescuvest.eu.”
 
Jan-Philipp Beck, CEO of EIT Health added: “The goal of EIT Health is to contribute to a stronger health ecosystem in Europe. We want to create a fertile environment for growth and innovation. Health innovation and entrepreneurship ultimately benefit the health economy and citizens. By bringing innovative ideas to market, we also help create new jobs. The cooperation with aescuvest.eu is a cornerstone for our mission, to support the most promising companies out of our network to scale-up their business by a funding that is combined with a high visibility in the market, and thus to help young entrepreneurs to increase their global competitiveness.”
 
Open to companies and individuals from across the EU, the funding focus of Surge-on Medical’s campaign is on Austria, Denmark, Germany, the Netherlands, Sweden, and the U.K. Investors from other European countries are welcome to contact aescuvest.eu directly.
 
More information on the campaign can be found on the Surge-on Medical’s campaign page.