GRUENDELPARTNER advises TGFS on financing of Raylytic

TGFS (Technologiegründerfonds Sachsen, is investing a large six-figure seed financing amount in Raylytic GmbH (, which is specialised in the computer-aided, high-precision analysis of X-ray, CT, and MRI images.

Using algorithms developed in-house, Raylytic has become one of the first companies worldwide that is able to automatically recognise individual structures in the human body (e.g. bones, vertebral bodies, and implants) and to quantify changes caused by wear and tear, loosening or the healing process.

TGFS provides technology-oriented founders with venture capital for the seed and start-up phase. The fund was launched in 2008 with a volume of EUR 60 million and was increased to more than EUR 124 million in March 2016. The target companies of TGFS are young, innovative, technology-oriented founders and companies that are active in the sectors of information and telecommunication technology, semiconductor and microsystems technology, medical engineering, life science, environmental and energy technology, as well as new media. TGFS is aimed at young companies with their seat or place of business in Saxony.

GRUENDELPARTNER has provided legal advice to TGFS with a team lead by Dr. Steffen Fritzsche. The venture capital practise group of GRUENDELPARTNER is one of the most experienced and best staffed advisory units in Central Germany and supports investors and founders in all development stages, in particular regarding business formation, development, and financing, as well as during all exit processes.

    Dr. Steffen Fritzsche (Lead, Corporate),
    Florian Helbig (IT, Commercial),
    Denis Koudous (Commercial, all based in Leipzig)

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