Irish MedTec Vertigenius Secures €2.1M Investment

9th May 2024

Posted In: Newsflash

Vertigenius, a pioneering Irish MedTech company specialising in the treatment of Vertigo using cutting-edge digital technologies, announced the successful closure of its seed round investment, raising over €2.1 million in funding.  It was founded by CSO of the company Dr. Dara Meldrum five years ago.

The investment round was significantly oversubscribed, indicative of strong market confidence. Atlantic Bridge led the round with several other investors including Ascentifi and Enterprise Ireland participating.

This significant investment underscores the confidence that investors have in Vertigenius’ innovative approach to addressing Vertigo, a condition affecting 390 million people annually worldwide. With this infusion of capital, the company is poised to accelerate the development and deployment of its groundbreaking treatment solutions, with a particular focus on scaling and entry into new markets.

“We are thrilled to announce the successful completion of our seed round financing,” said Mark Barry, CEO of Vertigenius.

“This investment is a testament to the transformative potential of our digital technology in revolutionising the treatment of Vertigo.

Our mission is to provide higher productivity and easier-to-use solutions for clinicians, which will reduce waiting lists and improve the lives of millions of people. With this funding, we are well-positioned to advance this ambitious mission.”

The company plans to leverage the funds to further enhance its technology platform, expand its sales and marketing capability, and establish strategic partnerships to support market penetration and growth.

“We look forward to partnering with Vertigenius as they pioneer advancements in Vertigo treatment,” said Conor O’Sullivan, Investment Director at Atlantic Bridge.

“Vertigenius’ innovative approach, based on technology developed by Dr Dara Meldrum at Trinity College Dublin, combined with their experienced team led by Mark Barry, and strong market potential, positions the company for significant success.

We look forward to supporting them in their mission to transform the lives of Vertigo patients globally.”

In addition to fuelling product development and market expansion, the seed round has enabled Vertigenius to make key hires to support its growth trajectory.

Recent additions to the leadership team in 2024 include Damien Daly (ex-Glofox) as Chief Technology Officer and Patrick Schoeman (ex-Aligner Dental Academy) as Chief Commercial Officer.

“We are thrilled to welcome Patrick and Damien to the Vertigenius team,” said Dr. Dara Meldrum, Founder and CSO of Vertigenius. “Their wealth of experience and expertise will be invaluable as we continue to innovate and drive towards our goal of revolutionising Vertigo treatment.”

(L-R): Mark Barry, CEO, Vertigenius; Dr Dara Meldrum, Founder and CSO, Vertigenius; and Conor O’Sullivan, Investment Director, Atlantic Bridge