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RSP Systems A/S, an Odense, Denmark-based non-invasive diagnostics organization, finished the first end of a Series B funding round adding up to €6.5m. The round stays open for a second end because of solid significance.
The round was driven by Dr. Roland Berger, who will be joining the organization as a Board of Director, and the round was joined by the majority of the organization's present investor.
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The revenue of this round will be utilized to fund more broad clinical preliminaries, enabling the organization to plan for regulatory approval and market launch of a glucose monitoring device for diabetes management. To date, the organization has raised a sum of €19.5 million (approx. $22.9 million), including the Horizon 2020 give granted by the EU in 2016.
Founder and CTO of RSP System, Stefan Banke:
“We have made tremendous progress over the past 2 years, and our results have triggered great interest among clinicians and investors alike. We are grateful for the continued strong support by our existing shareholders and excited about the investment by Roland Berger. His entrepreneurial spirit, extensive consulting experience and global network will add great value to RSP Systems. This Series A round will allow us to boost our development efforts and take the next major steps to bring to market a non-invasive glucose monitoring solution that will provide diabetic patients, also young ones, with a pain-free, convenient alternative to today’s finger-prick based blood glucose monitoring,”
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