Fepod, Finnadvance and MONCYTE Health secure a total of €3.6M in funding
We’re excited to share the recent funding news of three Health Incubator Helsinki companies: Fepod, Finnadvance, and MONCYTE Health.
Autumn 2024 has marked major milestones for several Health Incubator Helsinki startups, ranging from company establishments to product launches and acquisitions. This time, we’re highlighting news from the financing front, as three of our startups have successfully closed funding rounds, totaling 3.6 million euros.
Fepod receives €1M Deep Tech Accelerator loan from Business Finland
Fepod, which joined Health Incubator Helsinki in 2021, is developing a next-generation point-of-care blood analytics method, based on years of research at Aalto University. Recently, Business Finland awarded the company a Deep Tech Accelerator loan of 1 million euros.
This loan will enable Fepod to accelerate the development and commercialization of its first product by supporting the completion of clinical studies and the FDA and EMA sales approval processes.
€1.6M EU funding for Finnadvance’s organ-on-chip platform
One of our batch 1 companies, Finnadvance, is on a mission to transform drug research and development with more precise and reliable preclinical models. Over the past few years, the startup has raised significant funding, most recently securing €1.6 million from the European Union to accelerate the development and commercialization of its AKITA organ-on-chip platform.
MONCYTE Health raises €1M to advance personalized treatment for high cholesterol
MONCYTE Health, a Health Incubator Helsinki startup since 2022, has closed a seed round of 1 million euros. The round was led by Finnish venture capital investors Inventure, Almaral, and Athensmed and included funding from University of Helsinki Funds, private European investors, and a grant from Business Finland.
Officially established in 2024, MONCYTE Health is developing technology that helps clinicians to select more effective personalized treatments for patients with high cholesterol. With this new funding, the company aims to advance its technology, implement its go-to-market strategy, and explore collaboration opportunities with pharmaceutical companies.
Startups in Health Incubator Helsinki have collected €40M since 2021
Health Incubator Helsinki serves as a vital launchpad for health startups developing innovative solutions. The program provides comprehensive support, ranging from mentoring to investor networking, helping companies to attract funding and scale their operations. So far, startups participating in Health Incubator Helsinki have secured an impressive 40 million euros in funding.
“The 40 million euros raised since 2021 shows the interest investors have in the innovative solutions and products that our startups develop,” says Christian Lardot, Health Incubator Helsinki Lead. “Our program helps these companies to develop their concepts and to find the right partners to speed up the commercialization. It’s been rewarding for the Health Incubator Helsinki team to see these startups succeed and grow.”
