Injeq, a Medtech firm based in Finland, has quickly raised €2 million on Invesdor, according to an email from the platform.
Invesdor reports that during the private portion of the securities offering, Injeq raised €1.5 million in just a day. The next day, Injeq opened to the public topping €2 million, at a pre-money valuation of €11.56 million, closing that same day as an oversubscribed offering.
Injeq set a crowdfunding target of €400,000 – a number that was easily beat as 526 individual investors joined to purchase a 14.75% equity stake in the early stage firm.
Injeq is developing a “smart needle” designed to address “blind punctures.” The company expects to receive regulatory approval for its product, the “IQ-Tip,” in early 2021.
This is the 3rd crowdfunding round for the company. According to a report in Tekniikkatalous, Injeq is already considering a far larger funding round or perhaps a public offering.
Kalle Åström, Chief Financial Officer of Finnvera, an anchor investor in the Injeq, explained:
“Injeq’s development story is progressing according to plan. The ERDF Start-up Fund committed 25% of the initial target of EUR 1.2 million, and we are pleased with the good success of the issue. Mass financing has been a vital source of equity financing for companies in the medtech sector. Venture capital investors in this sector are almost completely absent from Finland,.”
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