Eventum Orthopaedics Secures £3.8m in NPIF-led Funding Round

Eventum Orthopaedics, a Yorkshire-based medtech company, has successfully raised £3.8 million in its third funding round led by NPIF II Mercia Equity Finance, part of the Northern Powerhouse Investment Fund II managed by Mercia Ventures. The latest funding round brings Eventum's total fundraising to £7 million since its founding in 2020. The capital will enable the company to build inventory for its QuadSense knee replacement device, which provides real-time data to optimize kneecap positioning during surgery, following its launch in the UK, US, and New Zealand. Additionally, the new funds will support the development of two more medical devices. Eventum's QuadSense has gained regulatory approval in the UK and US and has been used successfully in over 300 procedures, aiming to improve the satisfaction rates among patients undergoing knee replacement surgery. With global knee replacement surgeries reaching over 2 million annually and a significant portion of patients dissatisfied post-surgery, Eventum aims to provide a solution to enhance surgical outcomes. Investment Director Robert Hornby from Mercia Ventures expressed confidence in Eventum’s potential to not only boost patient outcomes but also lower costs associated with unsatisfactory surgeries.