Ostoform Raises €3 million in Funding Round
Ostoform is pleased to announce that capital investor, BGF, has led a €3 million equity investment round in Ostoform. In addition to the investment from BGF, this equity round has been supported by Enterprise Ireland and existing investors including HBAN MedTech.
In April of this year, Ostoform was awarded a grant of €2.7 million via the Disruptive Technologies Innovation Fund. The company now has almost €6 million to support the growth and development of the company’s product pipeline.
Chief executive and founder Kevin Kelleher said the investment was “a landmark equity raise” for the company.
BGF established a presence in Ireland in 2017 and takes minority positions in growing businesses, aiming to support and facilitate growth plans. BGF in Ireland is supported by the Ireland Strategic Investment Fund and the main Irish banks.
BGF’s Mark Sykes will join the Ostoform board.
“Ostoform is a great example of Irish innovation in the MedTech sphere, with their solutions having the potential to significantly improve the daily qualify of life for ostomy patients,” said Mr Mark Sykes. “The company has huge potential, and we are looking forward to working with Kevin and the team as they build out the business over the coming years.”
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