NewIcon, developer of medical robots, attracted through crowdfunding a record sum in Finland
NewIcon Ltd, developer of medical service automation, has raised in a public offering almost EUR 4.4 million, which is as far as is known the biggest sum in Finland, collected through crowdfunding. The public offering brought the company almost 300 new shareholders. Among them are dozens of health care professionals and entrepreneurs. CEO of NewIcon, Mr. Ossi Parviainen, does not want to reveal the names of individual investors. According to Mr. Parviainen the biggest investment is about 200 000 euros. NewIcon offers internal medicine supply for pharmacies and hospitals. The company was founded in 2007 and has a staff of more than 50 people.
”In hospitals we take care of the whole way of a medicine until the patient, which enhances the hospital functions and improves the drug safety. Many mistakes in medication take place in hospitals and this is of course the driver for interest among our customers”, says Mr. Parviainen. Among the products of the company are storage robots, smart medicine cabinets and systems for compunding iv medication. ”Fixu” storage and retrieval robot has been granted a Key Flag Symbol (registered collective mark, demonstrating that the product has been manufactured in Finland).With the raised funding Newicon is going to strenghten international growth and to expand the sales and marketing network, as also the retailor network. This year the company has established an office in Denmark, and the other Nordic countries will follow.
”We aim to get to the UK market. We are already active in France. Middle East is of high interest, there we are expecting to get big deliveries. We are also working in China”, lists Mr. Parviainen.
The new crowdfunding Act, which entered into force in September, has made it possible to apply for a EUR 4.99 million funding without a funding prospectus, approved by the Finnish Financial Supervisory Authority. Earlier the maximum volume of public funding without the similar prospectus has been under EUR 2.5 million.