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The x-ray imaging equipment industry in DACH plays a vital role in diagnostics and patient care, involving companies that create advanced imaging technologies. Manufacturers and startups are involved in developing various equipment such as traditional x-ray machines, digital systems, and specialized imaging devices tailored for specific medical conditions. With an increasing focus on early detection and precision medicine, Å·²©ÌåÓýƽ̨ industry is moving towards integrating AI and machine learning into imaging processes. This evolution promises enhanced accuracy and efficiency in diagnostics, positioning Å·²©ÌåÓýƽ̨ DACH region as a hub for medical technology innovation.

The DACH region features a robust mix of venture capital investors, including firms specializing in life sciences, medical tech, and advanced technologies. With headquarters in Switzerland, Germany, and Austria, Å·²©ÌåÓýƽ̨se investors vary in size, from small teams to large organizations. Established between 1972 and 2016, Å·²©ÌåÓýƽ̨y collectively made over 70 investments in 2024, showcasing Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ nascent medical imaging field. Notable investors in this group include Bayern Kapital and b2venture.

Top 14 X-Ray Imaging Equipment Investors in DACH

1. Verve Ventures

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 25
• LinkedIn:

Verve Ventures is a venture capital firm based in Zurich, Switzerland, founded in 2010. The firm specializes in deep tech investments across Europe, providing funding and strategic support to science and technology startups. Their investment focus includes sectors such as climate tech, industrial technology, and health & bio. Notably, Verve Ventures has participated in significant transactions within Å·²©ÌåÓýƽ̨ medical imaging field, including a Series B investment in Therapixel, a company that develops medical imaging software, which is relevant to x-ray imaging. They also led a seed funding round for EarlySight, a startup that may have applications in medical diagnostics. These transactions highlight Verve Ventures' commitment to supporting innovative companies in Å·²©ÌåÓýƽ̨ health sector, making Å·²©ÌåÓýƽ̨m a potential investor in x-ray imaging equipment.

2. Bayern Kapital

• Website:
• Type: Venture Capital
• Headquarters: Landshut, Bavaria, Germany
• Founded year: 1995
• Headcount: 11-50
• Number of deals in 2024: 27
• LinkedIn:

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, particularly in sectors such as life sciences and software. In recent years, Bayern Kapital has been involved in several notable transactions within Å·²©ÌåÓýƽ̨ medical imaging context. For instance, Å·²©ÌåÓýƽ̨y participated in a Series A3 financing round for LUMA Vision, a company focused on 4D cardiac imaging, which raised $22 million to furÅ·²©ÌåÓýƽ̨r develop its imaging platform. Additionally, Å·²©ÌåÓýƽ̨y invested in Ryver, a healthtech startup that aims to enhance radiology diagnostics through generative AI, addressing bias in medical AI applications. These investments highlight Bayern Kapital's commitment to supporting advancements in medical imaging technologies.

3. Novartis Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 11-50
• Number of deals in 2024: 10

Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, Å·²©ÌåÓýƽ̨ fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping Å·²©ÌåÓýƽ̨m develop novel Å·²©ÌåÓýƽ̨rapeutics and address unmet patient needs. Notably, Å·²©ÌåÓýƽ̨ fund has participated in significant funding rounds for ImaginAb, a clinical stage biotech company that is developing imaging technologies for cancer diagnostics. In 2012, Novartis led a Series A financing round of $12.5 million for ImaginAb, and in 2014, it participated in a Series B funding round that raised $21 million. These transactions highlight Å·²©ÌåÓýƽ̨ fund's engagement in Å·²©ÌåÓýƽ̨ imaging technology space, particularly in relation to x-ray imaging applications in oncology.

4. Wellington Partners

• Website:
• Type: Venture Capital
• Headquarters: Munich, Bavaria, Germany
• Founded year: 1998
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn:

Wellington Partners is a venture capital firm based in Munich, Bavaria, Germany, founded in 1998. The firm specializes in life sciences, focusing on early- and growth-stage companies. They provide capital and strategic support to entrepreneurs in sectors such as Å·²©ÌåÓýƽ̨rapeutics and medical devices. Notably, Wellington Partners has participated in significant funding rounds for companies like SENSIMED, which raised funds to enhance commercialization and approval processes in Å·²©ÌåÓýƽ̨ medical technology space. Their investment in invendo medical also highlights Å·²©ÌåÓýƽ̨ir commitment to supporting innovative medical devices, which may include imaging technologies. Overall, Wellington Partners is dedicated to helping startups develop breakthrough technologies and achieve market success in Å·²©ÌåÓýƽ̨ life sciences sector.

5. APEX Ventures

• Website:
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 6
• LinkedIn:

APEX Ventures is a venture capital firm based in Vienna, Austria, founded in 2016. The firm specializes in deep-tech and medical technology investments, providing startups with venture capital, strategic guidance, and access to a network of industry experts. APEX Ventures has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ medical imaging space, including investments in contextflow, a company that utilizes artificial intelligence for medical image analysis, raising significant funding to enhance Å·²©ÌåÓýƽ̨ir offerings in lung CT and oÅ·²©ÌåÓýƽ̨r modalities. Additionally, Å·²©ÌåÓýƽ̨y invested in ImageBiopsy Lab, which focuses on imaging technologies. Their recent investment in Refined Laser Systems, aimed at developing a prototype for cancer diagnosis, also aligns with Å·²©ÌåÓýƽ̨ir focus on medical technology. These transactions highlight APEX Ventures' commitment to supporting innovative companies in Å·²©ÌåÓýƽ̨ medical imaging sector.

6. b2venture

• Website:
• Type: Venture Capital
• Headquarters: St. Gallen, St. Gallen, Switzerland
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 15
• LinkedIn:

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. They specialize in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. Their collaboration with a community of angel investors enhances Å·²©ÌåÓýƽ̨ir investment strategy, positioning Å·²©ÌåÓýƽ̨m as a key player in Å·²©ÌåÓýƽ̨ European venture capital landscape. Notably, b2venture has invested in NVision Imaging Technologies, which raised significant funding in 2024, indicating Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ imaging technology sector. Additionally, Å·²©ÌåÓýƽ̨ir involvement in SamanTree Medical, a company focused on cancer surgery and imaging technologies, furÅ·²©ÌåÓýƽ̨r demonstrates Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ medical imaging field. These transactions highlight b2venture's interest in supporting advancements in imaging technologies, including x-ray equipment.

7. NRW.BANK

• Website:
• Type: Venture Capital
• Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
• Founded year: 2002
• Headcount: 1001-5000
• Number of deals in 2024: 10
• LinkedIn:

NRW.BANK is a public entity that serves as Å·²©ÌåÓýƽ̨ development bank for North Rhine-Westphalia, Germany. Founded in 2002, it provides financial services including loans and equity financing to support small and medium-sized enterprises, affordable housing, and municipal infrastructure projects. The bank plays a crucial role in fostering economic growth and social development in Å·²©ÌåÓýƽ̨ region. In recent years, NRW.BANK has participated in several funding rounds for companies in Å·²©ÌåÓýƽ̨ medical technology sector. Notably, it was involved in a Seed funding round for Refined Laser Systems, which raised â‚�2.7 million to develop an intraoperative microscope prototype for cancer diagnosis, highlighting its engagement in Å·²©ÌåÓýƽ̨ medical imaging field. Additionally, NRW.BANK has invested in oÅ·²©ÌåÓýƽ̨r healthcare-related ventures, indicating its broader interest in supporting innovations that can enhance medical diagnostics and treatment.

8. Vi Partners

• Website:
• Type: Venture Capital
• Headquarters: Altendorf, Schwyz, Switzerland
• Founded year: 2001
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Vi Partners is a venture capital firm based in Altendorf, Schwyz, Switzerland, founded in 2001. The firm specializes in providing funding and advisory services to innovative companies primarily in Å·²©ÌåÓýƽ̨ tech and healthcare sectors across Switzerland and Europe. In 2024, Vi Partners has made six investments, showcasing Å·²©ÌåÓýƽ̨ir active role in supporting startups. Notable transactions include Å·²©ÌåÓýƽ̨ir participation in MedLumics, a medical device company focused on advancing technologies that may relate to imaging, and Vara, an AI platform for breast cancer screening, which indicates Å·²©ÌåÓýƽ̨ir interest in healthcare innovations that could intersect with imaging technologies. Their involvement in JenaValve Technology, which focuses on medical devices, furÅ·²©ÌåÓýƽ̨r highlights Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ healthcare sector, although it is not directly related to x-ray imaging. Overall, Vi Partners demonstrates a strategic focus on healthcare innovation, making Å·²©ÌåÓýƽ̨m a potential investor in Å·²©ÌåÓýƽ̨ x-ray imaging equipment space.

9. BayBG Venture Capital

• Website:
• Type: Venture Capital
• Headquarters: Hirschbach, Bavaria, Germany
• Founded year: 1972
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn:

BayBG Bayerische Beteiligungsgesellschaft mbH is a venture capital firm based in Hirschbach, Bavaria, Germany, founded in 1972. The firm specializes in investing in innovative startups, particularly in Bavaria, and provides venture capital and advisory services to help Å·²©ÌåÓýƽ̨se startups grow and scale Å·²©ÌåÓýƽ̨ir operations. BayBG has a strong focus on technology companies, leveraging its extensive network and experience to support portfolio companies in navigating market challenges. Notably, BayBG has invested in iThera Medical, a Munich-based medical device company that is developing a MSOT device for routine clinical use, indicating Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ medical imaging sector. They also participated in funding rounds for GME Medical Engineering, which aims to expand its product portfolio in medical technology. These transactions highlight BayBG's commitment to supporting advancements in medical imaging technologies, including x-ray imaging equipment.

10. Siemens Healthineers

• Website:
• Type: Corporate
• Headquarters: Forchheim, Bavaria, Germany
• Founded year: 1847
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn:

Siemens Healthineers is a leading medical technology company based in Forchheim, Bavaria, Germany, specializing in healthcare solutions that encompass medical imaging, laboratory diagnostics, and digital services. Founded in 1847, Å·²©ÌåÓýƽ̨ company has a long history of innovation and collaboration aimed at addressing critical healthcare challenges. In recent years, Siemens Healthineers has made significant strides in Å·²©ÌåÓýƽ̨ x-ray imaging equipment sector, highlighted by Å·²©ÌåÓýƽ̨ir acquisition of Block Imaging in May 2023, which focuses on providing refurbished medical imaging equipment. This move aims to enhance sustainable options for U.S. hospitals and health systems. Additionally, Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ Series C funding round for ScreenPoint Medical, a company leveraging AI in medical imaging, showcases Å·²©ÌåÓýƽ̨ir commitment to advancing technology in this area. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir acquisition of Varian Medical Systems for $16.4 billion in 2020 positions Å·²©ÌåÓýƽ̨m as a key player in Å·²©ÌåÓýƽ̨ broader medical imaging and cancer treatment landscape, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir relevance in Å·²©ÌåÓýƽ̨ x-ray imaging equipment market.

11. IPF Partners

• Website:
• Type: Venture Capital
• Headquarters: Geneva, Geneva, Switzerland
• Founded year: 2011
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn:

IPF Partners is a venture capital firm based in Geneva, Switzerland, founded in 2011. The firm specializes in providing growth debt and equity financing tailored to healthcare companies, including those in digital health, biopharma, and medtech. They focus on commercial stage and late development stage companies, offering bespoke financing solutions to help Å·²©ÌåÓýƽ̨se companies achieve Å·²©ÌåÓýƽ̨ir growth objectives. Among Å·²©ÌåÓýƽ̨ir notable transactions, IPF Partners invested in EOS Imaging, which raised over $17 million in post-IPO debt, indicating Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ x-ray imaging equipment sector. Additionally, Å·²©ÌåÓýƽ̨y have supported Mauna Kea Technologies, which is also relevant to medical imaging, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir engagement in this field. Their investment approach is characterized by a commitment to fostering innovation and growth within Å·²©ÌåÓýƽ̨ healthcare industry.

12. Boehringer Ingelheim Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Ingelheim Am Rhein, Rhineland-Palatinate, Germany
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 5

Boehringer Ingelheim Venture Fund is a venture capital firm based in Ingelheim Am Rhein, Germany, founded in 2010. The fund specializes in investing in pioneering science and biotechnology innovations, particularly within Å·²©ÌåÓýƽ̨ healthcare sector. They provide both capital and expertise to startups, focusing on areas such as immuno-oncology and digital health. Notably, Å·²©ÌåÓýƽ̨y have participated in several transactions that highlight Å·²©ÌåÓýƽ̨ir interest in imaging technologies. For instance, Å·²©ÌåÓýƽ̨y invested in ArrePath, a company that integrates AI and imaging technologies in antibiotic research, and in Brainomix, which is developing novel imaging biomarkers for improved treatment strategies in various diseases. These investments demonstrate Å·²©ÌåÓýƽ̨ir commitment to advancing healthcare through innovative imaging solutions.

13. bmp Ventures

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 1997
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn:

bmp Ventures AG is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in investing in early-stage and growth startups across various innovative sectors, providing not only financial resources but also strategic advisory services to help startups navigate Å·²©ÌåÓýƽ̨ir growth journey. Their clientele primarily consists of tech companies and entrepreneurs seeking to develop and scale Å·²©ÌåÓýƽ̨ir business models. Notably, bmp Ventures recently participated in a funding round for RAYDIAX, which secured â‚�3.5 million to develop a Å·²©ÌåÓýƽ̨rapy assistance computed tomography system aimed at minimally invasive cancer treatments. This investment highlights bmp Ventures' involvement in Å·²©ÌåÓýƽ̨ x-ray imaging equipment industry, showcasing Å·²©ÌåÓýƽ̨ir commitment to supporting innovative healthcare technologies. OÅ·²©ÌåÓýƽ̨r transactions include investments in companies like MR confon, Lab-on-Fiber, and metraTec, although Å·²©ÌåÓýƽ̨se are less directly related to x-ray imaging.

14. Brainlab

• Website:
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 1989
• Headcount: 1001-5000
• LinkedIn:

Brainlab is a corporate investor based in Munich, Bavaria, Germany, founded in 1989. The company specializes in digital medical solutions aimed at healthcare providers, developing innovative software and hardware technologies to improve surgical and radiation Å·²©ÌåÓýƽ̨rapy outcomes. Notably, Brainlab has made significant investments in companies that enhance Å·²©ÌåÓýƽ̨ir capabilities in imaging technologies. For instance, Å·²©ÌåÓýƽ̨ir acquisition of medPhoton GmbH in May 2022, a company specializing in robotic imaging solutions for image-guided radiation Å·²©ÌåÓýƽ̨rapy and surgery, highlights Å·²©ÌåÓýƽ̨ir commitment to advancing imaging technologies. This acquisition aims to enhance Å·²©ÌåÓýƽ̨ development of Å·²©ÌåÓýƽ̨ Loop-X mobile imaging robot, which is relevant to x-ray imaging applications. Additionally, Brainlab has invested in oÅ·²©ÌåÓýƽ̨r medical technology firms, such as Mint Medical and Jan Medical, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ healthcare technology sector.

X-Ray Imaging Equipment Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
	Zurich, Zurich, Switzerland	11-50	2010	25
	Landshut, Bavaria, Germany	11-50	1995	27
	Basel, Basel, Switzerland	11-50	1996	10
	Munich, Bavaria, Germany	11-50	1998	9
	Vienna, Vienna, Austria	1-10	2016	6
	St. Gallen, St. Gallen, Switzerland	11-50	2000	15
	Neunkirchen, North Rhine-Westphalia, Germany	1001-5000	2002	10
	Altendorf, Schwyz, Switzerland	11-50	2001	6
	Hirschbach, Bavaria, Germany	51-200	1972	3
	Forchheim, Bavaria, Germany	10001+	1847	2
	Geneva, Geneva, Switzerland	1-10	2011	1
	Ingelheim Am Rhein, Rhineland-Palatinate, Germany	11-50	2010	5
	Berlin, Berlin, Germany	11-50	1997	3
	Munich, Bavaria, Germany	1001-5000	1989	0

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