Empowering Medical Devices: Mulder Secures €597k to Revolutionize Traceability
In a significant move for the medtech industry, Mulder, a female-led and minority-owned SaaS startup based in London, has secured €597k in a rolling pre-seed round led by SFC Capital. This funding, along with support from Innovate UK, will accelerate Mulder’s mission to tackle the transparency and compliance challenges that have long plagued the medical device supply chain.
Mulder is developing a groundbreaking blockchain-powered platform specifically designed for MedTech manufacturers. The platform offers comprehensive solutions for regulatory compliance, recall management, and end-to-end traceability, addressing the evolving needs of the industry.
Speaking about the funding milestone, Michelle Kuei, CEO of Mulder, expressed, “Securing SFC as our first institutional investor is a tremendous validation of our vision. With their support, alongside the backing from Innovate UK, we’re poised to accelerate our development, launch pilot programmes, and move closer to full commercial deployment.”
Founded in 2023 by a team of experts in healthcare innovation, regulatory frameworks, and technology development, Mulder is well-positioned to capitalize on the changing landscape of the medical device industry. The EU MDR and IVDR frameworks are heightening requirements for device traceability, post-market surveillance, and cybersecurity, driving the demand for Mulder’s innovative solutions.
Moreover, the integration of emerging technologies like AI, IoT, and data analytics in medical device manufacturing has increased the need for connected and transparent systems. Mulder’s blockchain-based platform aligns perfectly with these industry trends, empowering manufacturers to navigate the complex regulatory landscape with ease.
With a global medical device market estimated at £40 billion in 2024, Mulder is set to make a significant impact. The startup’s strategic approach will initially focus on the UK’s SME medical device manufacturer market, serving as a springboard for international expansion targeting the US, EU, Japan, India, and Taiwan’s SME segments.
As Mulder prepares for its pilot phase, the company is actively engaging with industry partners to participate in these programmes, allowing manufacturers early access to its innovative platform. With the second tranche of its pre-seed round opening in early 2025, Mulder anticipates reaching significant milestones that will pave the way for growth and future valuation increases.
This funding round is a testament to Mulder’s innovative approach and the growing recognition of the need for enhanced traceability and compliance in the medical device industry. As the company embarks on its journey, it is poised to revolutionize the way medical devices are managed, ultimately benefiting both manufacturers and patients alike.
