BrainsGate, Ltd. announced that it has received $14 million in funding from Elron Electronic Industries Ltd., Agate Medical Investments, Pitango Venture Capital, Spero Ventures, Medtronic plc, Cipio Partners, BNPP Capital Partners
December 06, 2020
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BrainsGate, Ltd. announced that it has received $14 million in a round of funding led by new investors Spero Ventures and BNP Joint Capital Fund, a fund managed by BNPP Capital Partners on December 7, 2020. The transaction included participation from returning investors Elron Electronic Industries Ltd. (OTCPK:ELRN.F), Agate Medical Investments, Medtronic plc (NYSE:MDT), Pitango Venture Capital, and Cipio Partners. The transaction is raised at a pre-money valuation of $147 million.
Elron Electronic Industries Ltd. is an operational holding company that focuses on building and enhancing technology companies, mainly in the field of medical devices. Its group companies include companies at different stages of development and business maturation, operating in various technology fields, such as medical device and other fields. It is involved in the management of its group companies by means of membership and providing assistance to management. It operates in the Holdings and Corporate Operations segment. It is engaged in matters of policy guidance, strategic planning, marketing, selecting and manning senior management positions, determining the business plan, approving investments and budgets, development and operational guidance, assistance in creating strategic partnerships, and the overall ongoing monitoring of its group companies' performance. Its main group companies include BrainsGate Ltd, Pocared Diagnostics Ltd. and RDC Rafael Development Corporation Ltd.
BrainsGate, Ltd. announced that it has received $14 million in funding from Elron Electronic Industries Ltd., Agate Medical Investments, Pitango Venture Capital, Spero Ventures, Medtronic plc, Cipio Partners, BNPP Capital Partners
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