The medical devices industry in Europe is vibrant and essential, focusing on the development of innovative products that enhance patient care. Companies range from startups to established giants, specializing in equipment ranging from simple surgical tools to complex imaging systems and life-saving implantable devices. As technology advances, the shift towards minimally invasive procedures and digital health solutions is clear. Moreover, increased regulatory emphasis on safety and effectiveness is refining product development. Europe is poised for growth, with a projected rise in health tech investments spurred by aging populations and the demand for efficient healthcare solutions.


Our list features a mix of venture capital firms and corporate investors, based across Europe, with headquarters in key locations like Paris, London, and Basel. Ranging in size from small teams to larger organizations, each investor brings distinct expertise to the table. Founded from 1994 to 2016, these twelve firms collectively aimed for numerous deals in 2024, showcasing their commitment to the medical devices sector and its transformative potential in healthcare.


Top 12 Medical Devices Investors in Europe


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Notably, the EIC has been involved in significant transactions within the medical devices sector, such as providing blended funding of up to €17.5 million to CARMAT, which includes a non-dilutive grant and potential equity financing. Additionally, the EIC Fund participated in a €35 million Series C funding round for Corwave, a company focused on innovative medical technologies. These transactions highlight the EIC's active role in supporting the medical devices industry.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several significant transactions within the medical devices sector, including investments in CorWave, a medical technology company that raised funds to support its industrial deployment and clinical trials. Bpifrance participated in CorWave's Series B financing round, which raised $17.1 million, and also took part in later funding rounds. Additionally, Bpifrance co-led a Series B funding round for Withings, a connected health company, which raised $60 million. These transactions highlight Bpifrance's active role in the medical devices industry, making it a relevant investor in this space.


3. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. Novo Holdings provides capital and strategic support to enhance healthcare solutions. Notably, they have invested in several medical technology companies, including CorWave, which raised $17.1 million in a Series B financing round led by Novo Seeds, and SI-BONE, which closed a $33 million growth capital round with Novo A/S as an investor. These transactions highlight Novo Holdings' active role in the medical devices sector, reinforcing their commitment to advancing healthcare innovations.


4. SBRI Healthcare

  • Website: sbrihealthcare.co.uk
  • Type: Corporate
  • Headquarters: Twickenham, England, United Kingdom (UK)
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: sbri-healthcare

SBRI Healthcare is a not-for-profit healthcare innovation program based in Twickenham, England, founded in 2009. The organization provides funding and support to innovators and entrepreneurs who are addressing unmet health and care needs within the NHS and social care system. Their mission is to accelerate the development of innovative technologies and solutions that improve patient care and increase efficiencies in healthcare delivery. Notably, SBRI Healthcare has been involved in several transactions relevant to the medical devices sector, including grants to companies like Vivo Smart Medical Devices, which raised $1,328,736 in 2013, and Ceryx Medical, which received $102,390 in 2019. These transactions highlight their active role in supporting the development of medical devices and related technologies.


5. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions within the medical devices sector, including investments in OssDsign, a medtech company focused on craniofacial implants, and BONESUPPORT, which specializes in innovative bone regeneration products. These investments highlight Almi's engagement in the medical devices industry, alongside their broader focus on supporting SMEs across various sectors.


6. Sofinnova Partners


Sofinnova Partners is a venture capital firm based in Paris, Île-De-France, France, founded in 1972. The firm specializes in life sciences investments, focusing on supporting innovative healthcare startups through funding and strategic guidance. They have a diverse investment strategy aimed at fostering scientific advancements and sustainability in healthcare. Notably, Sofinnova Partners has been actively involved in the medical devices sector, particularly through their investments in Shockwave Medical, which raised significant funding across multiple rounds (Series A to Series D) for the development of its Lithoplasty® balloon catheters used in treating peripheral and coronary vascular diseases. This involvement highlights their commitment to advancing medical technology and supporting companies that are making strides in the medical devices field.


7. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. EIB supports sustainable projects across various sectors, including healthcare and medical devices. Notably, EIB has been involved in several transactions within the medical devices industry, such as providing debt financing to Ottobock, a leader in prosthetics, and CARMAT, which specializes in innovative heart devices. In 2024, EIB also financed Protembis, a company focused on medical technology, and Robocath, which develops robotic solutions for cardiovascular interventions. These transactions highlight EIB's active role in supporting the growth of the medical devices sector.


8. Agoranov

  • Website: agoranov.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 42
  • LinkedIn: agoranov

Agoranov is a startup incubator based in Paris, Île-De-France, France, founded in 2000. The firm specializes in supporting technology and science startups through personalized assistance, fully equipped facilities, and acceleration programs. They primarily focus on early-stage startups across various innovative sectors. Notably, Agoranov has been involved in several transactions within the medical devices context, including investments in Corwave, which focuses on innovative cardiac devices, and Sensome, which develops smart medical devices for personalized healthcare. Other relevant transactions include Mistic and Pixium Vision, which also operate in the health technology space. This diverse portfolio highlights Agoranov's commitment to fostering innovation in the medical devices industry.


9. DigitalHealth.London


DigitalHealth.London is a not-for-profit organization based in London, England, founded in 2016. It aims to connect NHS staff, digital health companies, and academics to enhance health and care through digital innovation. The organization offers various programs, such as the Accelerator and Digital Pioneer Fellowship, to support the adoption of digital solutions in the NHS. Notably, DigitalHealth.London has been involved in several transactions relevant to the medical devices sector, including the seed funding rounds for 11 Health and Molecular Warehouse, both of which focus on innovative health solutions. Additionally, they have provided non-equity assistance to companies like PMD Solutions, Oxford Heartbeat, and Lifelight (Xim), which are also engaged in developing digital health technologies that may include medical devices. This involvement highlights their commitment to fostering innovation in healthcare, particularly in areas that overlap with medical devices.


10. Enterprise Ireland


Enterprise Ireland is a public entity that serves as the Irish government's enterprise development agency, founded in 1998. It supports Irish businesses at all stages of their growth journey by providing funding, advisory services, and market access assistance. The agency focuses on helping companies scale and compete internationally across various industries, including technology and manufacturing. Notably, Enterprise Ireland has been involved in several key transactions within the medical devices sector, such as a €2.3 million seed funding round for Atrian Medical, which is focused on developing treatments for atrial fibrillation. Additionally, they participated in multiple funding rounds for CroíValve, a medtech startup working on minimally invasive treatments for heart conditions, including a €3.2 million seed round and an €8 million Series A round. These transactions highlight Enterprise Ireland's active role in fostering innovation and growth in the medical devices industry.


11. Novartis Venture Fund

  • Website: nvfund.com
  • Type: Venture Capital
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 10

The Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, the fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping them develop novel therapeutics and address unmet patient needs. Notably, the fund has also invested in medical devices, exemplified by its involvement in transactions such as Ablation Frontiers, which raised $21.8 million for its investigational device exemption clinical trial, and Myopowers Medical Technologies, which has received multiple rounds of funding to support its clinical trials and CE mark preparations. Additionally, Cala Health, another company in which the fund invested, is focused on developing neuromodulation therapies, further showcasing the fund's engagement in the medical devices sector.


12. Life Sciences Partners (LSP)

  • Website: lspvc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: lsp-bioventures

Life Sciences Partners (LSP) is a venture capital firm based in Amsterdam, Netherlands, founded in 1987. The firm specializes in private equity investments within the healthcare sector, connecting investors with innovative healthcare companies. LSP focuses on drug development and medical technology, aiming to foster advancements that address unmet medical needs. Notably, LSP has been involved in significant transactions in the medical devices space, including BMEYE, which raised funds in multiple rounds, and Nexstim, a medical technology company that secured substantial venture capital to enhance its international sales and marketing efforts. These transactions highlight LSP's commitment to investing in companies that are at the forefront of medical technology innovation.



Medical Devices Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Novo HoldingsHellerup, Denmark51-200199945
SBRI HealthcareTwickenham, England, United Kingdom (UK)11-5020093
AlmiStockholm, Stockholm, Sweden201-50019947
Sofinnova PartnersParis, Île-De-France, France51-200197225
European Investment Bank (EIB)Luxembourg1001-5000195899
AgoranovParis, Île-De-France, France11-50200042
DigitalHealth.LondonLondon, England, United Kingdom (UK)11-5020161
Enterprise IrelandDublin, Dublin, Ireland501-1000199848
Novartis Venture FundBasel, Basel, Switzerland11-50199610
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715


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