Osborne Clarke advises Tokura on seed financing round for outpatient surgery infrastructure

Osborne Clarke has provided legal advice to Berlin-based healthtech start-up Tokura on a seed financing round in the mid-seven-figure range. The round is led by venture capital investors Heal Capital and Redalpine; several business angels are also participating via investor alliance better ventures. Tokura is developing technology-enabled surgery centers in cooperation with medical partners, thereby targeting one of the most dynamic segments of the German life sciences and healthcare market.

Founded in 2025 by Dr Daniel Kreter and David Rizor, Tokura positions itself not as a traditional medical service provider, but as an operational infrastructure partner for physicians and clinics. The company operates specialized outpatient surgical centres where private practitioners and hospitals can perform procedures. The offer is an integrated medical, organizational and technological system that in particular, well-coordinated surgical teams, standardized procedures, specialized facilities and a proprietary, digitally controlled platform that orchestrates patient- and admin-specific workflows across all stakeholders. The goal is to organize outpatient procedures on a larger scale in a way that is predictable, efficient, and scalable.

The funds from the seed round are to be used primarily for setting up the first Tokura site in Germany and for further developing the technology platform. In the long term, Tokura aims to create the conditions for enabling up to one million operations per year to be performed on an outpatient basis.

The transaction is taking place against the backdrop of far-reaching structural changes in the healthcare system. With the introduction of hybrid DRGs, demographic change and increasing reform pressure, there is a growing need to shift plannable procedures from the inpatient to the outpatient sector. At the same time, there is a lack of specialised infrastructure in many places to map higher case volumes safely and economically. It is precisely at this interface that Tokura is positioned: the start-up is addressing not only a digitalisation issue, but above all an infrastructure and organisational challenge.

“Tokura combines a clear operator focus with a scalable technology approach, exactly at the point where the outpatient sector will undergo massive infrastructure change in the coming years,” says Robin Eyben, Partner at Osborne Clarke. “The seed financing demonstrates that, in the context of the shift to outpatient care, independent operator and platform models are emerging that consistently integrate medical care, process standardisation and digital control.”

Comprehensive advice on venture capital and investment structure

Osborne Clarke provided Tokura with comprehensive advice on the corporate and contractual aspects of the seed financing round. The advice covered in particular the structuring of the investment, the design of the participation and governance provisions customary in venture capital transactions, and the negotiation of the financing documentation with the investor groups involved.

The Osborne Clarke team was led by Robin Eyben and included Dr Paul Rhode and Vanessa Petre Linbenciuc (all Venture Capital).