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The Venture Codex

NextGen Ventures

Zonneoordlaan 17, Ede, Gelderland, 6718 TK, Netherlands

Overview

Venture capital fund investing in digital health and medtech startups to improve health care

Total investments
6
Lead investments
1
Investments · 12mo
3
Active investors
2

Sector focus

  • Health Care
  • Medical Device
  • mHealth
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Investment portfolio

  • GrazeMate

    Participated · Seed · Jun 2026

    GrazeMate develops fully autonomous drones that perform cattle mustering and real-time monitoring by executing learned herding routes without a human pilot in line-of-sight. Its platform includes animal health detection (e.g., lameness), water availability checks, pasture biomass estimation, and in-development thermal/volumetric weight projections. The system leverages reinforcement-learning models trained on thousands of hours of operation across 1.7 million acres of pilot deployments in Queensland and New South Wales. Founder Sam Rogers, who started the company after a spinal injury, positions GrazeMate to replace labor- and helicopter-intensive mustering workflows and claims ROI in reduced flight hours, fuel, and labor risk. The company plans geographic expansion to California and to continue improving its behavioral models and autonomy. Financially, GrazeMate recently raised $1.2M in a pre-seed round led by Y Combinator with participation from Antler and NextGen Ventures.

  • Fluency

    Participated · Seed · Feb 2026

    Founded in 2023 by Swinburne engineering graduates Finnlay Morcombe and Oliver Farnill, Fluency offers a work intelligence platform that observes how tasks are performed across an organisation and uses AI to convert this activity into step-by-step guides, SOPs, annotated screenshots, and visual workflow maps. The product operates agent-style and does not require direct integrations, instead monitoring activity across common workplace applications such as Salesforce and Excel. By delivering a clear operational baseline, Fluency helps enterprises decide where to deploy AI and automation for maximum ROI, effectively replacing manual documentation work traditionally done by management consultants. Early customers include insurance giant AON, fashion conglomerate PVH Corp, and education publisher Houghton Mifflin Harcourt. The company has raised a total of US$7.5 million to date and is currently valued at about US$30 million. Proceeds from the latest financing will be used to grow the engineering team and accelerate international expansion.

  • ShanX Medtech

    Led · Seed · Jan 2026

    Founded in 2019 at the High Tech Campus in Eindhoven, ShanX Medtech (SXM) is developing an in-vitro diagnostic (IVD) platform that performs direct-from-sample antimicrobial susceptibility testing (AST). The system uses the company’s proprietary FLORA™ chemistry to monitor pathogen metabolism in real time, enabling clinicians to obtain actionable results in about sixty minutes with minimal user involvement. ShanX’s initial go-to-market focus is a women’s health application targeting urinary tract infections, though the underlying technology is positioned for broader clinical indications. The startup’s mission is to give every clinician rapid, evidence-based guidance to combat antimicrobial resistance. To date, ShanX has secured €24 million in financing, including a new €15 million seed round and an €8.85 million European Commission contract. The fresh capital will fund final product development, clinical validation, regulatory approval and commercial launch preparations. No revenue or user metrics have been disclosed.

  • STENTiT

    Participated · Seed · Apr 2022

    STENTiT is a medical device company and spin-off from Eindhoven University of Technology led by CEO Bart Sanders. It develops a novel class of regenerative endovascular implants—regenerative stents—designed to restore arteries from the inside out using catheter-based approaches, avoiding invasive surgery. The company aims to provide lifelong solutions for cardiovascular diseases, including peripheral indications. STENTiT intends to use the funds from its recent seed round to facilitate further pre-clinical development and batch production of its regenerative stent for peripheral indications. The product development is at the pre-clinical stage per the article. The company is headquartered in Eindhoven, The Netherlands.

  • LeQuest

    Participated · Equity · May 2019

    LeQuest provides simulation-based educational solutions for high-risk medical technology used in operating rooms, intensive care units and radiology departments. The company trains and certifies healthcare professionals in the use of medical devices and has serviced both hospitals and manufacturers. It works with device makers including Philips, Siemens, Medtronic and GE and reports active users in more than 15 countries across Europe, North and South America. Founded in 2011 and led by CEO Hicham Shatou, LeQuest is based in Rotterdam, The Netherlands. The company intends to use new funds to intensify collaboration with device manufacturers and to expand its services to hospitals geographically. The business model centers on simulation-based education and certification tied to medical technology adoption and use.

Team