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CERHA HEMPEL advises tech2people on financing round

CERHA HEMPEL successfully advised the innovative Viennese health care start-up tech2people on its first financing round.

CERHA HEMPEL successfully advised the innovative Viennese health care start-up tech2people on its first financing round. In addition to a crowd-funding campaign and bank financing, a number of investors from Austria and Switzerland also invested in tech2people in the course of the financing round. In total, more than EUR 3.7 million of capital (equity and debt) was raised, whereby several different financing and investment components had to be coordinated. The legal implementation of this complex financing round was successfully managed by CERHA HEMPEL.
tech2people has been operating a centre for robotic neuro-therapy in Vienna for three years, where innovative therapies are offered for people with neurological restrictions of motion. The start-up is best known for its exoskeleton, a therapy device that enables paraplegics to stand and walk. tech2people was founded in 2018, among others, by Gregor Demblin, who himself has been a paraplegic since the age of 18 and was able to take his own steps again for the first time with the exoskeleton. Now that the financing round has been completed, it will be possible to invest in the expansion of the therapy forms and thus purchase additional therapy devices for people with craniocerebral trauma, multiple sclerosis, paraplegia and stroke.

CERHA HEMPEL has been advising tech2people since its foundation. The CERHA HEMPEL team for the financing round consisted of the attorneys Mag. Jakob Hartig, LL.M. and Mag. Heinrich Foglar-Deinhardstein, LL.M. (both Corporate) as well as Dr. Thomas Zivny, LL.M. and Mag. Katharina Wilding (both Banking & Finance).

About tech2people:
The start-up tech2people was founded in Vienna in 2018 by Gregor Demblin, Michael Seitlinger and Dennis Veit. Demblin had a swimming accident in 1995 at the age of 18 and has been a paraplegic ever since. In 2017, he had an exoskeleton come to Austria to try it out for himself. After 25 years in a wheelchair, it enabled him to take his first steps again, and he was immediately convinced of the use of robotic therapy devices. He started the first Austrian therapy programme of this kind and made the use of the exoskeletons, which cost around EUR 150,000, accessible to other affected people. With the help of specially trained therapists, tech2people currently offers highly effective robotic neurotherapies at the Viennese Hospital “Göttlicher Heiland”.