The Venture Codex

Led · Equity · Aug 2013

CorTec is a Freiburg, Germany–based neurotechnology company that has developed Brain Interchange technology for chronic measurement and stimulation of brain activity. Its first product, AirRay, is in the process of CE approval and is the near-term commercial focus. The Brain Interchange system monitors brain reactions and calculates further activity based on collected data. CorTec intends to use proceeds from its recent financing to complete AirRay's development and launch and to begin clinical work with its implant. The company is led by CEO Dr. Jörn Rickert and was founded in 2010. Prior funding included a €2.4m seed round and public subsidies in 2011. CorTec develops a neurotechnological platform for measuring and stimulating brain activity, with its first product a foil electrode for clinical diagnostics. The company is advancing the clinical application of its platform system and intends to bring the product to market in 2012. CorTec raised funding in order to continue product development and clinical work. The financing comprised both equity seed funding and public subsidies. The company was founded in 2010 as a spin-off of Albert-Ludwigs University Freiburg. CorTec is led by managing directors Jörn Rickert and Klaus Würtenberger.