The Finnish science based Uute Scientific Oy has completed a financing round of 1.2 million euros
Health Incubator Helsinki startup from batch of 2020, Uute Scientific Oy, has completed a financing round of 1.2 million euros. The main investor in the additional financing round was Butterfly Ventures, which had previously invested in the company. Also, Tesi (Finnish Industry Investment Ltd) and earlier shareholders participated in it. With the new capital, the company aims for even faster growth and development.
“Uute Scientific has a strong technology- and research background from the Universities of Helsinki and Tampere, as well as a good IP base. The team is really good. In addition, the speed with which Uute Scientific has been able to acquire paying customers has surprised us positively several times. Uute Scientific Oy is clearly one of our portfolio companies of which we expect a really big success story. Additional investments in Uute Scientific have been in our investment plans for some time. For these reasons, the additional investment was an easy solution,” says Juho Risku, Butterfly Ventures Oy’s Co-Founder and Partner.
“Currently, about 500 million people suffer from immune-mediated diseases such as allergies, celiac disease and type 1 diabetes. This is due to urbanization and the fact that there is no longer exposure to nature’s diverse microbes. We believe that it is better to prevent these diseases than to treat the symptoms,” says Kari Sinivuori, CEO of Uute Scientific Oy.
“We currently have 10 customers who have brought about 30 consumer products to the Finnish and UK markets. In addition, we have delivered test batches to Germany and Spain. We have very strong scientific support for our patented raw material, and this additional round of funding guarantees us the opportunity for various development projects with international consumer goods giants. At the same time, we are looking towards 2023, aiming for an IPO,” Sinivuori continues.
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Kari Sinivuori, Uute Scientific Oy, CEO, Chairman of the Board
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Juho Risku, Butterfly Ventures Oy, Co-Founder, Partner
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Uute Scientific Oy manufactures a microbial extract that corresponds to the microbial community found in a rich forest and nature. Our raw material is researched and safe to use. When added as a raw material to various consumer products, such as cosmetics or textiles, natural exposure can be introduced into everyday life even when it is not possible in an urban environment. Environmental exposure is essential for the immune system to be able to train itself and maintain its operations. Uute Scientific Oy was established in accordance with the rules and processes of commercialization used at the University of Helsinki. The company’s trademark is Reconnecting Nature™. www.uutescientific.com
Butterfly Ventures is one of the leading seed stage venture capital companies in the Nordic countries focused on deep technology and hardware innovation. Butterfly Ventures was founded in 2012 and has offices in Helsinki, Oulu, Stockholm and Tallinn. The Butterfly Ventures team has solid experience in seed stage investments through more than 80 companies and more than 200 investment rounds. www.butterfly.vc
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. Our investment in Uute Scientific was made from the Venture Bridge special investment programme. www.tesi.fi