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10 Medtech Startups to watch in 2021 – Selected

The global medtech market was projected to reach US$ 481.2 billion in 2020. Continuing it’s growth at a CAGR of 5.2% during 2021-2026 it is projected to reach US$ 652.3 billion by 2026.

The largest medtech market is North America with a market share of around 43% in 2018.

Europe follows in second place and makes up 27% of the world market. The biggest markets in Europe are Germany, France, the United Kingdom, Italy and Spain.

Here are 10 Medtech Startups to Watch in 2021.

Lalibela Global-Networks

Country: Ethiopia

Year: 2016

Funding Stage: (Information unavailable)

Investors: (Information unavailable)

Description: Lalibela Global-Networks aims to lead the digital transformation of the health sector in Africa. The startup offers healthcare software, including a digital health record system: ABAY-CHR to automate hospital management and reduce day-to-day stationery resources.

Streamlining administrative tasks and reducing time spent finding patient files, Lalibela Global-Networks improves the functionality of medical centers while making healthcare more affordable for patients.

Highlight: Lalibela Global-Networks was the winner of Web Summit’s PITCH startup competition 2020.


Country: Austria

Year: 2018

Funding Stage: Seed

Investors: TBA Tyrolean Business Angel

Description: XUND is a Vienna based digital health startup developing an AI-powered health assistant designed to improve the quality and accessibility of healthcare. By providing a digital interface between users and the healthcare system, XUND aims to save time, costs and increase the quality of life.

Highlight: PITCH quarter-finalist at Web Summit 2020

Smart Diagnosis

Country: South Korea

Year: 2018

Funding Stage: Early-Stage

Investors: (Information unavailable)

Description: Smart Diagnosis has developed a vital signs extraction algorithm that can analyse the human eye using a smartphone camera for a full patient health assessment.

The Smart Diagnosis app will be accessible on any mobile device anywhere in the world and will also be integrable with other digital healthcare systems.

Highlight: PITCH quarter-finalist at Web Summit 2020


Country: South Korea

Year: (Information unavailable)

Funding Stage: Early-Stage

Investors: (Information unavailable)

Description: Geneonbiotech offers a simple, non-invasive Covid-19 diagnostic solution that greatly reduces time taken to produce a result.

Users provide a saliva sample, rather than a nasal scraping, and are given a result within 45 minutes. Test results are 99 percent accurate, and the system can be used by non-experts.

Geneonbiotech’s testing platform also incorporates a telemedicine communication service to help improve diagnostics and user care.

Highlight: PITCH quarter-finalist at Web Summit 2020

AiDx Medical

Country: Netherlands

Year: 2019

Funding Stage: Pre-Seed

Investors: EIT Health Headstart Fund

Description: AiDx technology brings an affordable alternative to standard microscopic examination by optimally addressing all components of the diagnostic cycle.

Highlight: Winner of Digital Health & Medical Devices category at Hello Tomorrow Summit 2020


Country: Singapore

Year: 2014

Funding Stage: Early-Stage

Investors: (Information unavailable)

Description: TeleMedC is a diagnostic imaging solutions company using sophisticated retinal imaging.

Their primary objective is to provide low cost diagnostic solutions for point-of-care screening and virtual management of eye and chronic diseases throughout the world.

Highlight: Finalist in Digital Health & Medical Devices at Hello Tomorrow Summit 2020 & ‘Most Investable Startup’ award at Slingshot – Startup Competition of SWITCH 2020

Vibrosonic GmbH

Country: Germany

Year: 2016

Funding Stage: Grant Funding

Investors: EASME – EU Executive Agency for SMEs

Description: Vibrosonic has developed a hearing contact lens which is designed to mimic the natural hearing process to a large extent and thus significantly improve the sound experience of hearing impaired people.

Highlight: Finalist in Digital Health & Medical Devices at Hello Tomorrow Summit 2020 & Spin-off of from the Fraunhofer Project Group

Cirqle Biomedical

Country: Denmark

Year: 2018

Funding Stage: Pre-Seed

Investors: BioInnovation Institute & Rhia Ventures

Description: Circle Devices develops a next generation contraceptive product, which aims to create a natural, desirable and safe alternative to existing contraceptive products.

Highlight: Finalists in Digital Health & Medical Devices at Hello Tomorrow Summit 2020


Country: Israel

Year: 2017

Funding Stage: Grant Funding

Investors: EASME – EU Executive Agency for SMEs & MassChallenge

Description: Nanosynex is developing a diagnostic test that can check bacterial resistance to antibiotics in a record time using microfluidics techniques, based on a revolutionary scientific development from the Technion.

The test will help doctors determine the most appropriate antibiotic treatment for patients and provide same day results. Same day results will help reduce the spread of resistant bacteria in an environment and significantly lower the burden on healthcare costs.

Highlight: Finalists in Digital Health & Medical Devices at Hello Tomorrow Summit 2020


Country: UK & Turkey

Year: 2020

Funding Stage: Pre-Seed

Investors: (Information unavailable)

Description: Cellsway focuses on the development of microfludics and lab-on-a-chip systems for biomedical applications.

The core product of the company is a liquid biopsy platform which uses a simple blood sample for cancer diagnostics and cancer research.

The patent-pending microfluidic technology enables isolation and enumeration of Circulating Tumor Cells from the blood samples of cancer patients.

Highlight: Finalists in Digital Health & Medical Devices at Hello Tomorrow Summit 2020


Country: Spain

Year: 2015

Funding Stage: Seed

Investors: dotforge, TURN8,, EASME – EU Executive Agency for SMEs & Hot DesQ

Description: MedicSen’s aim is to launch a treatment that will change the way we deal with diabetes forever.

They have created an application capable of integrating information from continuous glucose meters with other parameters introduced by the user or collected by intelligent devices. The end results offers users a record of their glycemic values and provides a reliable prediction of future values.

MedicSen uses an innovative learning algorithm that communicates with the user through a chat-bot type interface.

Highlight: Winner of Pitch Competition at EU-Startups Summit 2018 & Track Winner of ‘Health & Wellbeing’ at South Summit Competition 2020

If you’ve found this report valuable and if you’re a corporate or investor looking for innovative startups within a specific market, please get in touch.


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