Eventum Orthopaedics secures £3.8m investment for knee replacement device expansion
Deal News | Mar 18, 2025 | UK Tech Funding
Eventum Orthopaedics, a Leeds-based medtech startup, has secured a £3.8 million follow-on investment to bolster its flagship device, QuadSense. The device, which provides real-time data on the condition and position of kneecap replacements during surgeries, has been integrated into over 300 procedures and received regulatory approval. This new funding will be utilized to enhance distribution channels across the UK, US, and New Zealand. Eventum aims to address the dissatisfaction rate among knee replacement patients by offering data-driven clinical decisions for surgeons, potentially reducing the medical treatment cost per case significantly. The Northern Powerhouse Investment Fund II, managed by Mercia Ventures and backed by the British Business Bank, provided the funding, underscoring the growth potential of Yorkshire's medtech sector.
Sectors
- Medical Technology
- Venture Capital
Geography
- United Kingdom – Eventum is based in Leeds, West Yorkshire, indicating significant activity and investment within the UK.
- United States – The funding will help expand distribution channels into the US market, highlighting it as a target geography for business growth.
- New Zealand – New Zealand is mentioned as a target market for expanding the reach of Eventum’s products.
Industry
- Medical Technology – Eventum Orthopaedics is innovating in the field of surgical devices, specifically for knee replacements, a sector within medical technology.
- Venture Capital – Mercia Ventures and Northern Powerhouse Investment Fund II are involved as investment entities, indicating the role of venture capital in startup funding.
Financials
- £3.8m – The follow-on investment secured by Eventum Orthopaedics to expand its medical device distribution.
- 6,000 per case – Estimated cost savings per patient for medical providers when using the QuadSense device.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eventum Orthopaedics | Target company | Company | A Leeds-based startup focused on developing medical technologies for knee replacement surgeries. |
| Northern Powerhouse Investment Fund II | Investment fund | Company | An investment fund managed by Mercia Ventures, supporting growth in the northern region of the UK. |
| British Business Bank | Supporting institution | Government | A state-owned bank in the UK that backs the Northern Powerhouse Investment Fund II. |
| Mercia Ventures | Venture Capital Manager | Company | A venture capital firm managing the Northern Powerhouse Investment Fund II. |
| John Naybour | CEO and Founder | Person | CEO and Founder of Eventum Orthopaedics. |
| Lizzy Upton | Senior Manager | Person | Senior manager at the British Business Bank. |