About DSM
DSM is a venture capital firm founded in 1902. It is primarily based out of Heerlen, Netherlands. As of Mar 2024, DSM has invested in 15 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to HealthTech and High Tech. Most recently it participated in the $***** Seed round of Cynomys Overall, DSM portfolio has seen 1 acquisition, namely EyePromise. A lot of funds co-invest with DSM, with names like Thuja Capital sharing a substantial percentage of its portfolio. DSM has team of 4 people.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
DSM's List of Top Investments
DSM has a portfolio of 15 companies. Their most notable investments are in EyePromise and Inne.Their portfolio spans across United States, Netherlands, Canada and 4 more locations. They have invested in Life Sciences, HealthTech, High Tech and 6 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by DSM:
1. Hyalex
Developer of a synthetic cartilage platform to restore damaged joint surfaces. The company has developed biomimetic materials that can be used for restoring cartilages during surgery. It can be used for orthopedic implants as well.
Key facts about Hyalex
- Founded Year: 2016
- Location: Lexington (United States)
- Stage: Series A
- Total Funding till date: $46.4M
- Employee Count: 24 as on Jul 01, 2024
- Investors: Osage University Partners, Strategic Healthcare Investment Partners and 5 Others
- Latest Funding Round: Series A, Sep 17, 2024, $*****
- Highlight: Editors' Pick
Miach Orthopaedics is developing bio-engineered surgical implants for connective tissue repair. The company has developed a BEAR implant which is a proprietary bio-engineered sponge designed as a bridging scaffold to facilitate healing of the torn ACL (anterior cruciate ligament).
Key facts about Miach Orthopaedics
- Founded Year: 2016
- Location: Boston (United States)
- Stage: Series B
- Total Funding till date: $72.5M
- Employee Count: 30 as on Jul 01, 2024
- Investors: Sectoral, Aperture Venture Partners and 10 Others
- Latest Funding Round: Conventional Debt, Oct 16, 2025, $*****
- Highlight: Editors' Pick
3. Inne
Provider of an at-home fertility monitoring system for women. The company develops a non-invasive measurement system to monitor progesterone levels and cervical fluids based on the saliva of individuals. The device known as inne reader interprets with daily hormonal reading and sends it directly to inne App, using Bluetooth.
Key facts about Inne
- Founded Year: 2018
- Location: Berlin (Germany)
- Stage: Series A
- Total Funding till date: $18.9M
- Employee Count: 53 as on Jul 01, 2024
- Investors: Blossom Capital, Monkfish Equity and 9 Others
- Latest Funding Round: Series A, May 25, 2022, $*****
- Highlight: Editors' Pick
4. Flore
Provide nutritional supplements to improve gut health. It offers customised probiotics based on stool sample analysis to allevate bloating, gas, constipation, digestive issues, food tolerance, regulate bowel movements, and support immunity.
Key facts about Flore
- Founded Year: 2016
- Location: San Diego (United States)
- Stage: Series A
- Total Funding till date: $21.1M
- Employee Count: 11 - 50 as on Jul 17, 2025
- Investors: K3 Ventures, 10x Value Partners and 11 Others
- Latest Funding Round: Series A, Sep 16, 2020, $*****
- Highlight: Editors' Pick
5. Panaceutics
Provider of an online platform for personalized nutrition and medication. The combination of cloud-based software, and robotic formulation and delivery platform enables the formulation of drug combinations or nutritional supplements tailored specifically to an individual's genetic makeup in accordance with cGMP guidelines. The formulation can be adjusted based on gender, life stage, immunity, gut health, activity levels, eating habits, and other lifestyle choices.
Key facts about Panaceutics
- Founded Year: 2013
- Location: Danville (United States)
- Stage: Series A
- Total Funding till date: $11.9M
- Employee Count: 11 as on Jul 01, 2024
- Investors: DSM, Center for Innovative Technology and 11 Others
- Latest Funding Round: Series A, Aug 19, 2022, $*****
- Highlight: Editors' Pick
DSM's Year-on-Year Investment Trends
DSM has invested in 15 companies over the last 12 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Cynomys and most recent follow-on round was in Octarine.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 0 | 2 | 2 |
2022 | 2 | 0 | 2 |
2021 | 0 | 2 | 2 |
2020 | 2 | 1 | 3 |
2019 | 1 | 0 | 1 |
2018 | 1 | 0 | 1 |
2017 | 1 | 1 | 2 |
DSM's Investments by Stage
DSM has made 5 investments in Seed stage with an average round size of $1.74M, 4 investments in Series A stage with an average round size of $16M and 1 investment in Series B stage with an average round size of $10.8M.Stage of entry | No. of Investments |
|---|---|
Seed | 5 |
Series A | 4 |
Series B | 1 |
Note: We have considered here, only first round of investments
DSM's Investments by Sector
DSM has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Internet of Things - Industry Applications, Consumer and Enterprise Applications. Notably, it has invested in 12 Tech companies, 8 Enterprise (B2B) companies, 6 Consumer (B2C) companies and at least 4 companies focusing on Software.Sector | No. of Investments |
|---|---|
Life Sciences | 7 |
High Tech | 2 |
Internet of Things - Industry Applications | 2 |
Consumer | 1 |
Enterprise Applications | 1 |
Others | 7 |
Note: We have considered here, only first round of investments
DSM's Investments by Geography
DSM has made most investments in United States (4), followed by Netherlands where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 4 |
Netherlands | 2 |
Denmark | 1 |
Germany | 1 |
Italy | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
DSM's recent investments
DSM has not made any investment in 2026 so far.Here are the most recent investments by DSM:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 13, 2024 | Italy | Seed | 2240 | [+1] | |
Nov 08, 2023 | Denmark | Series A | 9580 | ||
Jan 25, 2023 | United States | Series B | 2037 | [+4] | |
Sep 20, 2022 | Denmark | Seed | 8800 | ||
May 25, 2022 | Germany | Series A | 4964 | [+4] |
Acquired companies in DSM's Portfolio
1 company from DSM's portfolio has been acquired. The most recent acquisition was EyePromise in Feb 2025 by Prnvision for $*****.Here are DSM's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 03, 2025 | Oct 07, 2014 | Seed | 1296 |
Team profile of DSM
DSM has a team of 4 members including 3 Principals located in United States, Netherlands and 1 more location. DSM's team sits on the board of 1 company.Here is a list of all team members in DSM:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Principal | United States | |||
Principal | Amsterdam | - | ||
Principal | Vienna | - |
Co-investors of DSM
Over the past 12 years, 52 investors have co-invested in DSM's portfolio companies. This includes funds and angels.
- Invested before DSM: Johnson & Johnson Innovation, Osage University Partners and 12 others have invested in rounds before DSM. There is 1 company where Johnson & Johnson Innovation has invested before DSM and 1 company where Osage University Partners has invested before DSM.
- Top Co-investors of DSM: 14 investors entered a company along with DSM. These include investors like Thuja Capital (2 companies).
- Invested after DSM: A total of 24 investors have invested in DSM's portfolio after their investments. Top Investors include DSM (2 companies), EIC Fund (2 companies) and SVB (1 company).
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