Braga, Portugal-based Peek Health, S.A. (PeekMed®), a medical technology company, has closed a €3 million Series A investment round.
The investment round was led by Lisbon, Portugal-based Grosvenor House of Investments and Porto, Portugal-based Portugal Ventures. Grosvenor House of Investments is a venture capital firm that invests in companies focused on sustainability. Portugal Ventures helps Portuguese companies compete globally through all stages of development.
PeekMed is a three-dimensional (3D) pre-operative planning software for orthopedic surgery. The software includes 3D and artificial intelligence technology. Orthopedic surgeons use the software to plan surgeries and simulate surgical options including implant size.
According to its website, the software’s features include a “simple wizard and measurement tool” to perform an osteotomy, tools to plan for fracture reduction, surgical templating, 2-dimensional/3D hybrid planning, cloud integration, and picture archiving and communication system (PACS) integration.
According to the company, PeekMed will be able to use the new funding to aid its international growth, especially in Europe and North America. PeekMed “plans to increase its sales and marketing capacity to grow in these markets” as well as “expand the product team to implement the roadmap.”
Portugal Ventures Vice President Rui Ferreira commented, in part, “Portugal Ventures has worked alongside PeekMed since 2015, backing the company and its promising software development from its early stage.”
Ferreira continued, “We are very pleased to see that the new round of investment in this project has been completed, giving the company the resources it needs to pursue its internationalization to key markets…which is already underway.”
PeekMed will also use the funding to continue to develop its technologies. Namely its “3D artificial intelligence planning and deep learning technologies.”
OTW spoke with PeekMed CEO João Pedro Ribeiro about the company’s priorities for the remainder of 2021. Ribeiro told OTW, “Our goal is always to keep improving the product and our reach to our customers and partners. Therefore, one of the main priorities is to double the current team (from 20 to ~40 [approximately 40]) in multiple roles: sales, marketing, product, regulatory, etc.”
Ribeiro continued, “We are also developing new technologies to release by the end of the current [year 2021] to improve the user experience with PeekMed.”
