Finnish company Grundium, which is making portable microscope scanners for healthcare and other industries, has raised €2 million from Chinese investors Ascend Capital Partners.
The investment was announced at Slush in Helsinki and marks Ascend Capital Partners’ second investment in a Finnish startup today, following its announcement backing Fimmic this morning.
Grundium develops a mobile digital microscope scanner for scanning and digitising high-resolution images. The founders were previously Nokia engineers working on imaging technology. The scanners are used in the medical field for diagnoses as well as in the biotech, transportation, and other industrial sectors.
“The de-centralized and portable scanner will make a huge impact on people’s lives globally as more than 70% of all diagnoses will involve pathology tests in the future,” said Mika Kuisma, CEO of Grundium. “After two years of careful developing, it is time to shift gears and bring out a product with our patented state of the art imaging technology.”
According to the company, the market for mobile digital pathology will be worth $726.2 million by 2023. It is aiming to launch its product in Europe and the US by Q2 2018. Ascend Capital Partners will assist in bringing the product to the Chinese market.