VentriJect is a spinout from Aalborg University in Denmark, and despite only being founded in 2018, the company already had a finalised product ready for commercialisation by 2021. Its technology has both medical and fitness applications, which has enabled the company to expand rapidly across the EU since its first larger raise in 2021.  

The startup already has customers in several European markets, and has recently signed distributors in Denmark, the Netherlands, Sweden, Switzerland, and the UK. 

VentriJect is in final negotiations with several large healthcare providers across Europe, which will significantly expand the reach of the business. VentriJect is also exploring US market entry, a typical move for many high growth Nordic firms given the small domestic market and global potential of many innovations. This would provide access to over 55,000 health clubs and the world’s largest healthcare market.

Seisomofit, which is a CE-marked medical device, uses a technology called seismocardiography to measure movements in the chest wall caused by beating heart vibrations. This data is then processed through a proprietary algorithm, which provides a VO2 max estimation that has clinically relevant accuracy and reproducibility in under three minutes and without the need for exercise. This was the focus for a BBC documentary last year, which compared Seismofit against a CPET test and found the results to be extremely reliable.  

The most recent round, led by primarily by existing investors, builds on previous raises in 2021 and 2024 and involve funding from VCs and business angels. One of the largest investors in VentriJect is the Export and Investment Fund of Denmark (EIFO). 

Anders Throup-Jensen from EIFO said: “We are very pleased to have invested in VentriJect’s latest investment round. We have been an investor in the company since 2021 and believe in a strong future for the company as a market leader in VO2 Max measurements. We have been very impressed by the team and their ability to open new markets. I look forward to continuing to work with the management team as we grow our sales in the EU and the US."

CEO Mikkel Kristiansen sees VentriJect benefiting from a wider boom in the Nordic startup scene. He says that although Denmark is well recognised as a factory for innovative tech startups, there is growing interest in healthtech in particular. He cites the investment of €48 million by Novo Holdings and the Export and Investment Fund of Denmark (EIFO) into the HealthCap IX fund focused on Nordic healthtech as just one example of how VC investment waking up to the medical technology opportunities in the region. 

Denmark is already home to a fast-growing biotechnology scene supported by the BioInnovation Institute (BII), which is funded by Novo Nordisk. However, medtech companies like VentriJect, which can generate revenue much more quickly and are generally considered less risky investments, are proving attractive to those looking to gain healthcare exposure but have a lower risk appetite.

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