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Vitestro Raises €12 million in Series A Round

NEW YORK – Vitestro said Tuesday that it has raised €12 million ($12.9 million) in a Series A financing round.

The Utrecht, Netherlands-based developer of an autonomous blood drawing device said it plans to use the proceeds to accelerate product development, EU authorization, and production. The round was led by California-based Sonder Capital along with a mix of existing investors and new private investors.

According to Vitestro's website, its device uses artificial intelligence and ultrasound-guided 3D reconstruction with robotic needle insertion for accurate and secure blood collection.

Vitestro CEO Toon Overbeeke said in a statement that the financing round will help the company improve its venipuncture technology for autonomous blood drawing.

Fred Moll, managing partner of Sonder Capital, added that medical robotics "will make optimal outcomes available to everyone" and Vitestro will set the world's standard for autonomous blood drawing, which is necessary for clinical diagnostics but is hampered by a shortage of skilled healthcare workers.

Vitestro plans to continue clinical studies of its blood drawing instrument in 2023 and introduce it on the European market in 2024.