Inbentus is in search of capital to further develop and opened this week a financing round of $608,000 (€500,000) through the Crowdcube platform, as Rafael Valverde, CEO of Inbentus, explained.
The company, which already has a product developed that consists of a respirator to respond to the crisis of Covid-19, has so far raised $170,000 (€140,000) of private funding. In addition, Inbentus has been supported by the Administration with the granting of two non-refundable aids for an amount exceeding $243,000 (€200,000), said Valverde.
The objective of this round is divided into two: on the one hand, the company expects to raise $486,000 (€400,000) that will be destined for the development of the high-tech ICU ventilator, while, on the other hand, the remaining $121,600 (€100,000 will serve to boost the sales of the equipment. Likewise, Inbentus has the objective of commercialization in emerging markets.
“We have developed an economical and accessible solution that did not exist until today in the market for respirators,” said the company’s executive.
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Inbentus expects to raise $486,000 (€400,000) that will be destined to the development of the high-tech ICU ventilator
The company has diagnosed two problems that it wants to transform into opportunities. 10% of COVID-19’s active cases need artificial ventilation and there is a low supply of highly reliable turbine ventilators, but a high demand in emerging countries. The target market for this sector covers more than 3 billion people worldwide. In 2021, Inbentus will continue with the development of its equipment, a respirator whose sales price can be around $12,000 (€10,000).
In addition, Inbentus estimates that by 2027 an investment of $10.3 billion (€8.5 billion) in invasive respirators will be required worldwide. Another of the company’s future objectives is, once the commercialization phase has been developed in emerging countries and Europe, to make the leap to BME Growth, formerly the Alternative Stock Market (MAB) in a target scenario from 2023 to 2025. The truth is that for the moment there is nothing concrete.
In the founding team of the company is the founder of Clerhp Estructuras
The founding team of Inbentus, in addition to Valverde, is composed of Juan Andrés Romero, founder of Clerhp Estructuras, a listed Spanish engineering and construction company, and José Ramón García, CEO of La Comarca Food Group. In addition, the company has in its team of advisor Mariano Martinez, head of the ICU of the Reina Sofia Hospital in Murcia.
In the market where Inbentus is located, there are other competitors in Europe and the United States such as Medtronic, Hamilton Medical, Honeywell, Dräger or General Electric Healthcare. In Brazil, Magnamed stands out and in China, Aeomed.
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