Michael Friedrich On Raising Over $250 Million To Build A Medical Device Company, Developing Surgical Robots To Make Minimally Invasive Surgery Available To Everyone

Entrepreneurship is often a winding road filled with unexpected twists, failures, and ultimately, moments of triumph. Few embody this journey as well as Michael Friedrich, who invested in and led Distalmotion from its infancy.

Distalmotion has attracted funding from top-tier investors, such as Revival Healthcare Capital, Venturelab, Kinled Holding, and Swiss Entrepreneurs Fund.

In this episode, you will learn:

• Michael’s teenage ventures gave him the foundation to take bigger risks later.
• Aïmago SA’s success came from creating competitive pressure, not just having great technology.
• Scaling a company requires evolving leadership beyond just technical expertise.
• In stable environments, entrepreneurship offers high rewards with relatively low downside.
• Distalmotion’s focus on accessibility in robotic surgery makes it a transformative player.
• Michael’s setbacks, like the solar car project, taught him valuable lessons about funding and execution.
• Michael’s journey from Aïmago SA to Distalmotion showcases the power of adaptability and long-term vision.

 

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About Michael Friedrich:

Michael Friedrich is the current CEO at Distalmotion. Michael was previously the Clinical Marketing Specialist at NOVADAQ from May 2014 to August 2015.

Prior to that, they were the Co-Founder & CEO at Aïmago SA from August 2008 to May 2014.

Before that, they were the Leader at EPFL Sunraycing Team from February 2005 to July 2007. Michael also co-founded Berne Byte Bears GmbH, where they served as Deputy CEO from January 1999 to December 2001.

Michael Friedrich has a MSc in Microengineering from EPFL (École polytechnique fédérale de Lausanne) and has done an Erasmus Exchange Year in Biophysics at KTH Royal Institute of Technology.

Connect with Michael Friedrich:

• LinkedIn
• Crunchbase
• TheOrg
• RocketReach

Read the Full Transcription of the Interview:

Alejandro Cremades: Alrighty. Hello, everyone, and welcome to The Deal Maker Show! Today, we have a really exciting founder—a founder from whom we’re going to learn a lot about building, scaling, and financing. I mean, all of that good stuff that we love to hear on this show.

Alejandro Cremades: And again, brace yourself for an incredibly inspiring episode ahead. So, without further ado, let’s welcome our guest today, Michael Friedrich. Welcome to the show!

Michael Friedrich: Hey Alejandro, nice to be here.

Alejandro Cremades: So, you were originally born in Bern, Switzerland. Take us on a walk down memory lane. What was life like growing up for you?

Michael Friedrich: I had a pretty happy childhood. I grew up in the suburbs of Bern, but not in an entrepreneurial environment. My dad worked as a dentist. I went to school in Bern and got introduced to entrepreneurship very early on. It was the mid-90s when the internet was emerging, and we started programming. In 1996, when we were just 15 years old, we started our first company. That was the first time I became hooked on the professional passion that entrepreneurship embodies.

Alejandro Cremades: And at 21 years old, that was still a very young age. At that point, the company was essentially a way to help finance school. Is that right?

Michael Friedrich: Well, yes. But we did it mainly because it was intellectually stimulating. Building a company is always an incredible challenge on multiple dimensions, and we just had fun doing it. At that time, there was no real risk—we still lived at home, had dinner from mom, a bed to sleep in, and nothing to worry about. There was no downside, just pure upside and exploration.

Alejandro Cremades: That’s amazing. Eventually, you ended up going to Lausanne to study engineering. What prompted that decision? Here you were, already getting a taste of the entrepreneurial world and business—so why go back to studying?

Michael Friedrich: Well, we always knew that this was not the company we wanted to build our lives around. It was a great way to gain experience in entrepreneurship, earn some money, and have fun. But we also understood that at 20 or 21, it was the right time to learn something more—to get a real profession. That’s why we decided to sell the company, which helped finance our studies.

Michael Friedrich: I went to Lausanne while my co-founders went to Zurich.

Alejandro Cremades: Did that experience give you any visibility into the full cycle of entrepreneurship—what it looks like to reach the finish line? And did it perhaps give you more self-confidence for the next time around?

Michael Friedrich: It absolutely did. Truthfully, had I not had this opportunity during my studies—or even before, during high school—I probably would have never dared to build my own company after graduation. It was a very important moment in my life because it taught me to trust myself in these areas. I learned to trust my skills and intuition. That experience really enabled me to start something after university.

Alejandro Cremades: So, when you went to university, you met a professor who introduced you to the whole idea of intellectual property. That kind of changed everything. How so?

Michael Friedrich: Very true. During my studies, I led a student team of about 30 students where we designed a solar-powered race car. We wanted to participate in a solar car race in Australia but ultimately failed to raise the necessary funds. That was a bit of a downer—a failure.

Michael Friedrich: Toward the end of my studies, I was feeling a little discouraged. I worked in a professor’s lab, and he graciously accepted me as an engineer. When I was about to leave his lab, he told me, “Michael, I have these patents on blood flow imaging technology. Wouldn’t you want to build a company with me?”

Michael Friedrich: That was when I thought, “Wow, what an opportunity!” I called Mark, with whom I had worked on my previous company, and together we decided—with the professor—to start Imago, my first medical device company.

Alejandro Cremades: There was another acquisition that happened there. Obviously, the outcome was great. You sold the company for how much?

Michael Friedrich: $12.5 million at the time. It wasn’t a huge amount, but it was still significant. Most importantly, it allowed every investor to earn money. That was crucial because, without early investors, nothing ever happens—no company gets off the ground.

Alejandro Cremades: Absolutely.

Michael Friedrich: It was very important that our early investors made money. Fortunately, they were very happy—not just from a financial return perspective, but because they saw how we handled issues, solved problems, and demonstrated perseverance.

Michael Friedrich: When I later joined Distalmotion as a lead investor in a Series B financing round, most of these prior investors decided to reinvest. Now, they are part of the incredible story we are writing with Distalmotion.

Alejandro Cremades: We’ll talk about that in a little bit. With Imago—the company you sold for over $12 million—when the transaction happened and you started working for the acquirer, the picture wasn’t what you initially expected. What happened there, and what were the sequence of events?

Michael Friedrich: The exit was rather unconventional. We developed our blood flow imaging camera and started the company in 2008, selling it in 2014. In 2011, we realized that while our product was technically advanced and an engineering marvel, it was not clinically compelling enough to generate the sales needed to succeed.

Michael Friedrich: We were stuck. We had great engineering but a weak commercial outlook. That led to sleepless nights. Fortunately, we discovered a competitor who had a similar technology, but theirs required injecting a contrast agent into the bloodstream. Our camera didn’t require any injections.

Michael Friedrich: This competitor was already listed on Nasdaq with an enormous market cap, little revenue, and huge losses. We realized their valuation was only justified by the belief that their technology was unique.

Michael Friedrich: So, we took a bold approach. We reached out to their investors, key opinion leaders, and research analysts covering them. We explained that we had next-generation technology that was cheaper and didn’t require injections, yet could achieve the same results. Our goal was to educate the market and create pressure on their share price.

Michael Friedrich: That strategy worked. It ultimately forced our competitor to make us an acquisition offer.

Alejandro Cremades: Wow.

Michael Friedrich: It was a very aggressive approach—David versus Goliath—but it worked. However, I knew from the start that when I joined the acquirer as an employee during the transition, it wasn’t going to be a long-term relationship. I just needed to hand over what they had acquired.

Michael Friedrich: Before we even signed the final agreements, I was already looking for my next venture. That’s when I met the founding team of Distalmotion, just two months before the Imago exit closed.

Alejandro Cremades: That’s fascinating. You were also getting involved in startup investing. Was that how you got involved with Distalmotion?

Michael Friedrich: I only invested in Distalmotion. I wanted to prove to myself that I could build something bigger than Imago—something with real commercial success.

Michael Friedrich: When I saw the early technology and idea behind Distalmotion, I knew it was going to work. It was an existing, rapidly growing market—surgical robotics—with well-defined pain points around cost and complexity. I saw that we had a solution to overcome those challenges.

Michael Friedrich: That’s why I decided to go all in. I invested everything I earned from my prior transaction. And now, almost 11 years later, we’re recording this podcast.

Alejandro Cremades: So, I mean, now, obviously, three companies in, you’ve been able to experience quite a bit. If I were to take you back in time—let’s say I put you in a time machine and bring you back to when you were a 21-year-old kid, still in school—

Alejandro Cremades: And let’s say you had the opportunity to have a chat with your younger self and give yourself one piece of advice before launching a business. What would that be and why, given what you know now?

Michael Friedrich: The thing is, you need to have a certain amount of ignorance and a lot of perseverance to start a business. Had we known beforehand how much it takes—how much money, effort, and time—it probably would have been a bit more challenging to take the leap.

Michael Friedrich: For me personally, I think it would have been valuable to spend time early on developing soft skills—negotiation, conflict management, leadership—those types of skills that I had to learn on the job. It would have been helpful if I had the opportunity to learn them earlier.

Alejandro Cremades: Thank you.

Michael Friedrich: But that’s also one of the reasons I chose the job I have now—because I wanted to learn these skills. I think that would have been insightful.

Michael Friedrich: Over time, I also realized that I most likely have attention deficit syndrome. In hindsight, and this is a very personal reflection, I probably should have addressed it and understood its impact earlier in my life. I think that could have helped me improve my focus and productivity.

Michael Friedrich: But these are personal takeaways. The reality of building a business is what it is.

Michael Friedrich: Looking back, it’s always easy to say, “I could have found a solution earlier if I had thought about it properly.” But, well, time has passed.

Alejandro Cremades: Right.

Michael Friedrich: And I don’t think there are universal recipes for success. I’ve been very fortunate to always be surrounded by supportive people—both in my personal life and work life.

Michael Friedrich: Today, my focus would be more on finding and mentoring a few younger entrepreneurs and helping them on their journey.

Michael Friedrich: Lastly, not every project is a success. One of the hardest things I’ve had to accept is admitting when a project is not the right one to invest time in. I see a lot of really talented people who are deeply in love with their projects—even when it’s clear that it won’t work out.

Michael Friedrich: It’s really important to find peace of mind and surround yourself with a network of people who can say, “Hey, it’s okay. You can let it go.”

Michael Friedrich: Use your talent and your limited time to pursue something else because there are so many good ideas out there. Not everything translates into success, and sometimes, the best decision is to move on.

Alejandro Cremades: I love it. So, Michael, for the people listening who would love to reach out and say hi, what’s the best way for them to do so?

Michael Friedrich: LinkedIn is probably the easiest. I’d love that. Otherwise, my email is good as well—anything works. It’s Mi***************@th********.com—my first name dot last name at thismotion.com.

Alejandro Cremades: Amazing. Well, Michael, thank you so much for being on the DealMaker Show today with us. It has been an absolute honor to have you.

Michael Friedrich: Same here. Thank you very much, Alejandro. Have a great afternoon.

*****

If you like the show, make sure that you hit that subscribe button. If you can leave a review as well, that would be fantastic. And if you got any value either from this episode or from the show itself, share it with a friend. Perhaps they will also appreciate it. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at al*******@pa**************.com

 

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