MedicubeX closing syndicate funding round of 310 000€

Press release 29.4.2022

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Finnish health-tech startup MedicubeX has raised a seed round of 310 000€ to take their eHealth Station and business further.

MedicubeX is developing a self-measurement station that measures vital signs automatically and hygienically for preventive healthcare. In only a few minutes, the station collects and analyzes data on cardiovascular disease and diabetes risk factors using AI and sensor-guided technologies.

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On April 9th, 2022, the MedicubeX crowdfunding investment round came to an end. 

The financing was organized on Funderbeam, a global equity fundraising and trading platform that links a diversified investor network with highly-screened development firms across international markets and allows private investments to be sold through its marketplace.

In addition to the syndicate funding round through Funderbeam totaling 250 000€, two knowledgeable business angels with competent industry expertise and StartMore – an early-stage startup funding company, will invest alongside the Funderbeam investors.

Besides the investment, Marja Aarnio-Isohanni and Joe Hamari will bring their experience with scalable SAAS-business models and European healthcare systems to the table. G Square, a pan-European healthcare private equity group, has Aarnio-Isohanni as an Operating Partner for the Nordic countries. Smartvatten, a water use, and leak prevention service and analysis firm, has Hamari as a co-founder and CRO. Their investments amount to 60 000€ with the same valuation and terms as Funderbeam’s closed funding round.

We’re also pleased to announce a strategic investment from StartMore, a startup funding company committed to assisting early-stage enterprises in their growth and transforming ideas into viable businesses.

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High growth anticipated for the highly automated, self-disinfecting e-Health station

The company aims to patent a cardiovascular disease risk index enabling patients and doctors alike to easily follow up on the development of their individual risk and act accordingly. The score is based on a number of factors that can help forecast disease risk, including a novel AGE measurement taken from the skin. Because no comparable solutions are available in Europe, a substantial market is projected for the fully automated, self-disinfecting eHealth station. The ease of use and cost-effectiveness are two of its main competitive advantages.

The autonomous self-measurement market in the EU is expected to reach 400 million euros by 2027.

With the current funds raised, the company can move forward with its plans to set up customer pilots in Finland and the Netherlands, develop intellectual property, begin commercial operations in the Nordics and Baltics, as well as prepare to enter the Central European market.

“We see this successful funding round as a strong signal supporting our vision on the future of healthcare. Healthcare organizations are struggling to provide care for all urgent cases after being disrupted by COVID, not to speak of chronic diseases. It is absolutely critical in the long term for all of Europe to prevent as many serious illnesses as possible. We aim to continue work on a preventive healthcare revolution with our eHealth station and will be updating the investors quarterly on Funderbeam on our progress”.

CEO Vili Kostamo M.D.

Further information and interview requests:

Vili Kostamo M.D., CEO MedicubeX Oy
vili.kostamo@medicube.fi
+358 44 300 1617

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