Copenhagen-based Ventriject, a MedTech startup behind technology that accurately measures cardiorespiratory fitness (CRF), has just closed a €1.7 million funding round following expansion into several European markets.
The round, led by primarily by existing investors, builds on previous raises in 2021 and 2024. Investors include the Export and Investment Fund of Denmark (EIFO), TechStation | HardTech Innovation Hub, Investo Capital, and private investor, Carsten Stendevad, a former CEO of one of the largest pension funds in Denmark.
CEO Mikkel Kristiansen shared with EU-Startups: “We are incredibly proud of the continued great trust we have from our existing investors, as well as from the new investors who have come on board. There has been a lot of interest in us as a company over the past year – from potential customers, partners, and investors alike. We have created a product that really resonates with the time we are in, where there’s an increased focus on preventative health and on living healthier and longer.
“We can see this in our European markets, and we are also experiencing great interest from the American market. Therefore, the next period will be really exciting for us as a company, and this capital injection will help us intensify the journey we are on right now.”
VentriJect is a spinout from Aalborg University in Denmark, and despite being founded in 2018, the company already had a finalised product ready for commercialisation by 2021. Their technology reportedly has both medical and fitness applications, which has enabled the company to expand rapidly across the EU since its first larger raise in 2021.
The flagship device, the Seisomofit, is a CE-marked medical device that uses a technology called seismocardiography to measure movements in the chest wall caused by beating heart vibrations.
With the Seismofit system, a person’s cardiorespiratory fitness (quantified as VO2 max) can be estimated in less than 3 minutes without the use of exercise. Utilising this together with the VentriJect algorithm, a depiction of the VO2max is delivered via the VentriJect app to the user.
Anders Throup-Jensen from EIFO said “We are very pleased to have invested in VentriJect’s latest investment round. We have been an investor in the company since 2021 and believe in a strong future for the company as a market leader in VO2 Max measurements. We have been very impressed by the team and their ability to open new markets. I look forward to continuing to work with the management team as we grow our sales in the EU and the US.”
CEO Kristiansen sees VentriJect benefiting from a wider boom in the Nordic startup scene. He says that although Denmark is well recognised as a factory for innovative tech startups, there is growing interest in healthtech in particular. He cites the investment of €48 million by Novo Holdings and the Export and Investment Fund of Denmark (EIFO) into the HealthCap IX fund focused on Nordic HealthTech as just one example of how VC investment waking up to the medical technology opportunities in the region.
The startup says they have customers in several European markets, and has recently signed distributors in Denmark, the Netherlands, Sweden, Switzerland, and the UK.
They are also in final negotiations with several healthcare providers across Europe. VentriJect is also exploring US market entry. This would provide access to over 55,000 health clubs and the world’s largest healthcare market.
