Combinostics Secures €3.9M Series A Funding to Expand cNeuro® Cloud Platform for Early Diagnosis of Neurodegenerative Diseases

VCBeat (WeChat ID:vcbeat) learned that,2019Year11Month21Recently, Finnish health tech startupCombinosticsAnnouncement of Completion390€10,000Around of financing. This round of financing was led byIndustrifondenandNordicNinja VCLead.

It is reported that Combinostics will use the funds from this financing round to expand its cNeuro® cloud platform into the U.S. and Asian markets. cNeuro® is a cloud-based platform developed by Combinostics for the early diagnosis of neurodegenerative diseases, offering quantitative assessment services for brain images.

Combinostics, established in 2014 and headquartered in Tampere, Finland, is a manufacturer of data-driven clinical assessment software. The company aims to help improve patients' quality of life by supporting healthcare professionals in the diagnosis of neurodegenerative diseases.

Lennart Thurfjell, CEO of Combinostics, stated: “Industrifonden has an excellent track record in supporting the growth of startups, and NordicNinja maintains strong ties with Asia, particularly Japan, which is a key target market for our technology.”

Lennart Thurfjell added, “We will leverage this funding to intensify our R&D efforts, establish our operations in the United States, and expand our business in Asia. Currently, we have a partner in Japan handling regulatory approvals, and we are also seeking partners in China.”

Shinichi Nikkuni, Managing Partner at NordicNinja VC, stated, “The platform established by Combinostics is built on ‘necessity,’ namely, to help countries such as those in Northern Europe and Japan cope with the growing pressures brought about by aging societies.”

Data released by the Japanese government earlier this year showed that in 2018, citizens aged 65 and older accounted for 28% of its total population; by 2050, this figure is estimated to rise to 38%.

Commenting on the data, Patrik Sobocki, Investment Manager at Industrifonden, added, “Our investment in Combinostics represents another step forward in our long-term commitment to innovation in health technology. We have invested in a portfolio of startups that are improving global health outcomes by developing leading products across diverse categories.”

Industrifonden is a Nordic venture capital firm with a fund size of $600 million, focusing on early-stage technology and life sciences companies with international potential. Companies supported by Industrifonden include tech firms Qlik, Arcam, Soundtrack Your Brand, and Fishbrain, as well as life sciences companies CellaVision, Oncopeptides, and AMRA.

NordicNinja VC is a new venture capital fund with over €100 million in capital, dedicated to supporting startups in the Nordic and Baltic regions.

(Compiled by Xiong Hui)