Lithuanian medtech startup BrachyDOSE raises €554K

BrachyDOSE, a Lithuanian medical technology startup, has raised €554K. The funding round was led by Coinvest Capital with participation from BSV Ventures and business angels from the LitBAN and EstBAN networks. BrachyDOSE will use the raised funds to test its radiation measurement technology in clinical settings.

Founded in Kaunas in 2014 by Neringa Seperiene and Rimas Seperys, BrachyDOSE has developed equipment for clinics that measure radiation doses to patients during cancer treatment using high-dose brachytherapy (direct introduction of micro-gamma radiation sources into the affected organ). The equipment consists of sensors placed in one or more implantable tubes near the tumor or in a specific organ area. BrachyDOSE has also developed a scanner that receives data from the sensors at the end of a patient's treatment. A machine learning program analyzes the data and alerts doctors about discrepancies between the prescribed and delivered radiation doses. It also predicts potential injuries and treatment outcomes.

Coinvest Capital, a venture capital fund established in 2018 by the national development bank ILTE, invests EU and Republic of Lithuania public funds, in promising Lithuanian startups and into European startups that benefit Lithuania. The managing director of Coinvest Capital is Viktorija Trimbel.

BSV Ventures (formerly Baltic Sandbox Ventures) is a venture capital fund specializing in investments in high technology, biotechnology and dual-use technologies in the Baltic States and the rest of Europe. The fund was founded by Sandra Golbreich, Andrius Milinavičius and Erik Bhullar in 2022 in Lithuania. Last year fund has raised $15M from NATO Innovation Fund (NIF), Lithuanian ILTE fund (ex-Invega). BSV Ventures has offices in Lithuania, Estonia and Finland.