The Venture Codex

Participated · Seed · Sep 2025

PeriVision’s core product, the VisionOne platform, fuses standard VR goggles with advanced artificial-intelligence algorithms to perform visual field examinations that are faster and more comfortable than traditional hospital equipment. Aimed at the world’s 100 million glaucoma patients, the system has already obtained certifications in the EU, the US and the UK, and its first product has been commercially launched. The company plans to broaden VisionOne with new tests for retinal disorders, add AI-driven analytics tools and build deeper clinical-integration solutions. Over the past three years, PeriVision has augmented its development with multiple non-dilutive supports, including EIT Health Wild Card, two Innosuisse project grants, FIT credit, and placements in Switzerland’s TOP100 Startups and Venture Leaders Medtech 2023. The startup is also taking part in Innosuisse Scale-up Coaching and the Biopôle Vanguard Accelerator. With the fresh capital, PeriVision intends to accelerate market expansion across Europe, the United States and the United Kingdom through 2025.

Participated · Seed · May 2024

Limula builds a platform to automate and digitize ex vivo manipulation of cells to reduce the high costs and manual steps in cell and gene therapy manufacturing. The company aims to make therapies such as CAR T-cells more affordable by replacing highly skilled labour and sterile infrastructure–intensive processes. After an initial proof of concept, Limula is onboarding selected cell therapy developers to run pilots and has launched a program giving industry and academic partners early access ahead of commercial launch. The technology is intended to support transitions from pre-clinical evaluation to clinical trials and later commercial-scale manufacturing of clinical-grade cell products. Limula has signed partnerships with several research centres, including the San Raffaele Telethon Institute for Gene Therapy in Milan, to broaden application scope. The company will use the new funding to advance its software development and further roll out pilots. Limula develops an automated tool for scalable cell therapy manufacturing that integrates a bioreactor and centrifuge in a single device to enable "one-patient – one batch" personalized treatments with minimal human intervention. The technology aims to reduce the high cost of current cell therapies and help broaden access to these treatments. Limula was the grand prize winner of the BioTools Innovator 2023 Final and received a $250,000 non-dilutive award. The company participated in the BioTools Innovator accelerator, receiving individualized mentorship and industry feedback. Limula’s CEO said the program helped bridge the knowledge gap between Switzerland and the U.S. and aided in building the company’s value proposition and business strategy. Limula has developed a technology platform that automates cell therapy manufacturing in a single, compact instrument, encapsulating all process steps to reduce devices and manual interventions. The platform is intended to enable decentralised production directly in hospitals to lower costs and broaden patient access to autologous cell therapies. A multidisciplinary team of seven engineers and biologists built the system and plans to move from prototyping to industrialisation of its innovative bioreactor. Limula will establish and equip a laboratory at the StartLab incubator located in the Biopôle in Lausanne and grow its team. The startup received a Tech Seed loan from the Foundation for Technological Innovation (FIT) to finalise its demonstrator and begin a pilot phase with partners. Founded at the end of 2020, Limula aims to address current capacity limits and high production costs that restrict access to cell therapies.

Participated · Equity · Dec 2022

Bottneuro is developing the Miamind® Neurostimulator, a non-invasive, wearable, 3D-printed headset system that delivers periodic brain stimulation sessions for use at home or in clinical settings. The system pairs software and hardware — a large tablet, soft brush electrodes (no shaving needed), and an electronics neckpiece — and uses resulting 3D‑PET data to target affected brain regions. Pre-clinical data cited by the company suggest induced neuronal oscillations may reduce Aβ plaques and phosphorylated tau and modulate microglial inflammation. The startup has filed multiple patents and is building know-how in mass customization of cap design and individualized stimulation patterns to limit replicability. Bottneuro has academic and industry partnerships (including Samsung and Dätwyler Group) and previously received CHF 150,000 from Venture Kick in 2021. The team operates from offices in Basel. Clinical trials are planned to start in Switzerland in 2023, with a target for regulatory approval by 2025. The company says a recent capital increase places it in a stable position to accelerate development. Bottneuro develops a personalized Alzheimer’s therapy platform that combines early PET-based diagnosis with patient-specific electrical brain stimulation delivered via tailor-made, 3D‑printed headsets and a control tablet. The company will advance its patented NENI neuromodulation platform to refine stimulation protocols. Bottneuro plans to fabricate an initial series of 100 devices and to start clinical trials in 2022, with the first PET scan centers scheduled for establishment in 2023. To support these plans the startup received CHF 150,000 from Venture Kick, complemented by a Kick Fund investment, and is planning a CHF 10 million Series A in 2022–2023. Management and board experience include co-founder and CEO Bekim Osmani and former country presidents of Medtronic and Novartis serving on the board, which the company cites as support for business development. The funds are intended to set up PET scan centers and to advance business development and product preparation.

Led · Series A · Aug 2021

Flow Neuroscience makes Europe’s only medically approved transcranial direct current stimulation (tDCS) headset paired with a behavioural therapy app for treating depression. The device delivers gentle electrical impulses and is intended for at‑home, self‑managed use with no reported side effects. In UK and EU trials users reported a 30% recovery rate after six weeks and 85% reported improved mood. The company intends to further develop its existing depression treatments and accelerate expansion into the US via clinical trials and pursuit of FDA approval. Financially, Flow closed a $9 million Series A and has raised $11.6 million to date. Founded in 2016 by clinical psychologist Daniel Månsson and neuroscientist Erik Rehn, the startup positions its product as an adjunct or alternative to antidepressants and CBT. Flow develops a combined portable transcranial direct current stimulation (tDCS) headset and therapy app for at-home treatment of depression. The product pairs a Class IIa medical-device headset with an app that provides educational videos and expert-backed advice on sleep, nutrition, fitness and meditation. The headset delivers low direct current via electrodes to stimulate and rebalance neural activity and is used alongside the therapy app, which is free on iOS. Flow launched in June 2019 in the UK and Sweden and is led by Daniel Mansson. The headset retails at £399. The company intends to use recently raised funds to support a European rollout, introduction to healthcare clinics, and the conduction of clinical studies. Flow Neuroscience develops a wearable transcranial direct current stimulation (tDCS) device linked to a behavioral training mobile app to treat depression. The technology uses weak electrical currents to stimulate the brain and is paired with an app that teaches patients how to eat, sleep and exercise based on peer-reviewed literature. The company says tDCS can change neuronal activity and have effects on depressive symptoms similar to antidepressant medication, with fewer and less severe side effects. Led by CEO and clinical psychologist Daniel Månsson, Flow graduated from the Shenzhen-based HAX Accelerator and received an EU H2020 SME instrument grant. The $1.1M seed funding announced in January 2018 will enable the company to complete the regulatory process, obtain approval for its first product in the EU and grow its team. Backers in the round included Khosla Ventures, SOSV and a Swedish angel investor.

Participated · Series A · Jan 2021

Koya Medical is a transformative healthcare company focused on developing breakthrough treatments for venous diseases and lymphedema and providing personalized care. Led by CEO Andy Doraiswamy, the company aims to address substantial unmet needs for patients with progressive, incurable lymphedema. An estimated 20 million Americans live with lymphedema, which can result from cancer, chronic venous disease, infection, and surgery and often requires lifelong management. Koya plans to use the newly raised capital to support strategic expansion and continued growth. The company raised up to $30M in financing in a round led by OrbiMed. Koya is based in Oakland, CA. Koya Medical is a healthcare company developing wearable active compression systems to treat lymphedema and venous disorders. Its lead product, the Dayspring system, is a low-profile, mobility-enabled active compression therapy cleared by the U.S. FDA to treat lymphedema and similar conditions in the upper and lower extremities. Dayspring includes a soft, breathable garment using Koya’s proprietary Flexframe technology, a rechargeable handheld controller, and a mobile app for therapy tracking and custom programming. The company plans to use new funding to accelerate expansion and commercialization of Dayspring and to continue platform development and clinical research to pursue additional indications. Koya positions its technology to enable movement and muscle use to promote healthy fluid flow and improve quality of life compared with traditional compression. The privately held company was founded in 2018 and emphasizes patient-centric design. Koya Medical develops the Dayspring prescription-only active wearable compression system for treating lymphedema and venous insufficiency. Dayspring is FDA-cleared and is described as the first digitally connected system designed to enable patient mobility during use. The company is based in Oakland, Calif., and was founded in 2018. Andy Doraiswamy, PhD, serves as President and CEO. Koya recently closed an $11M Series A financing led by Arboretum Ventures. Jan Garfinkle of Arboretum will join the board while Josh Baltzell will continue as Chairman.