- Introduction text: (12/18/20) Founded in 2015, Pedilay® Care has been on a growth trajectory with the 2019 launch of its first product Pedilay® med. The nomination for the German Accelerator program now stands to open the door to the US market for the young, ambitious company.
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- Date: 2020-12-18
- Title: Pressemeldung
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Pedilay® Care GmbH: Innovatives Medizinprodukte-Startup auf Wachstumskurs schließt Series A Finanzierungsrunde ab
Founded in 2015, Pedilay® Care has been on a growth trajectory with the 2019 launch of its first product Pedilay® med. The nomination for the German Accelerator program now stands to open the door to the US market for the young, ambitious company.
"Despite all the adversities, which like most other companies we have been faced with in 2020, we look back with pride on a year of hard fought for achievements but now also with even greater confidence on the future," explains Hannes Weiland, co-founder and managing director of Pedilay® Care GmbH.
Following its successful establishment of a sales network in Germany and Austria in early 2020, Pedilay® Care recently closed a Series A financing round, led by Hessen Kapital III (EFRE) GmbH, to put its new production site located in Grebenhain, Hessen into operation. Accompanying this growth trajectory, Hannes learned of the additional good news this November: Pedilay® Care was selected to participate in the highly sought after German Accelerator program, which prepares companies for a strategic expansion into the U.S. market.
The nomination was preceded by a demanding application process, at the heart of which a panel of top-class experts critically reviewed the applicants' suitability for the further program. This year, the entire application process took place virtually only, which further underscores the achievement of all involved.
As part of the program, experts now provide the selected participants with know-how required for a successful market entrance in the US. It also enables them to make contact with mentors on the ground to build out its U.S. network at an early stage.
"Our expectations are as great as our goals," explains Hannes Weiland. "Above all, we hope to learn something about the regulations in the USA and to understand important reimbursement models for our Pedilay® med product series. In addition, we can well imagine conducting an initial user study for Pedilay® med at the right time in cooperation with local hospitals or physicians. In the medium-term, we would like to expand our distribution network and find cooperation partners to help us enter the U.S. market."
Pedilay® Care is a participant in the "German Accelerator Life Sciences Program", a program in which German Accelerator supports 'life sciences' startups in particular. Based at the Cambridge Innovation Center, the support program operates in an environment specifically geared to the needs of companies in the life sciences sector.
Due to the current circumstances, participation is limited to a virtual program, so local contacts will be of even greater value to Pedilay® Care.
About German Accelerator
German Accelerator empowers German startups to scale globally. We take high potential companies on a fast-paced learning journey in the world’s leading innovation hubs in the U.S. and Asia. German Accelerator provides mentoring from dedicated experts, access to our vast global network of business partners and investors, as well as free office space in all our locations. Our programs are highly customized to the participants’ individual needs in order to help them enter international markets and succeed quickly. We don’t take any equity and our programs are free of charge with the exception of “Next Step,” a market discovery program for the Asian region. Since launching in 2012, German Accelerator has nurtured 288 startups which have raised more than US$4.9 billion in funding so far. German Accelerator is currently run by German Entrepreneurship GmbH and is supported by the German Federal Ministry for Economic Affairs and Energy (BMWi). Visit www.germanaccelerator.com for more information.