Dutch medtech startup Hy2Care, which specializes in hydrogel implants for cartilage repair, has raised €4.5 million, led by Brightlands Venture Partners, to prepare for a US clinical trial and commercial expansion.
- Founded in 2014 by Marcel Karperien and Dr. Sanne Both, Hy2Care develops innovative hydrogel-based implants for repairing damaged cartilage, offering a minimally invasive treatment that supports natural tissue regeneration.
- The company’s flagship product, CartRevive®, is an injectable hydrogel that fills cartilage defects and solidifies in place, providing mechanical support while stimulating the body’s healing process, ultimately aiming to restore joint function and delay or prevent more invasive procedures such as joint replacement.
Details of the deal
- The investment was led by Brightlands Venture Partners, a Dutch venture capital firm that invests in innovative startups addressing sustainability and health challenges, leveraging deep sector expertise and €120 million in committed capital across four funds.
- Half of the funding was provided by the European Innovation Council (EIC) Fund, awarded to Hy2Care in 2022 through the EIC Accelerator program, with additional participation from new investors such as LIOF, the regional development agency for Limburg.
- Hy2Care will use the €4.5 million in funding to finalize preparations for its US clinical trial of the CartRevive hydrogel implant, following recent FDA IDE approval.
- The investment will also support the company's commercial expansion in Europe and other key global markets, enabling regulatory progress, scaling efforts, and market entry activities.
“This round gives us the momentum we need to take the next big step. We’re entering a transformative phase — launching a US clinical trial while laying the foundation for commercialization in EMEA. We are incredibly proud of the support from our investors, both existing and new," claims Leo Smit, CEO of Hy2Care.
