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We are investing in Monidor Ltd, a 2015 founded Oulu based medtech startup that specializes in developing small, smart digital health devices and software, which help nurses in their daily work by improving patient safety. We now offer you the opportunity to invest together with us via our Co-investment Platform.
Monidor has developed a small infusion therapy pump device called Monidrop and an intravenous (IV) Screen remote monitoring software.
Today most patients IV therapy is still conducted manually, by nurses setting the infusion speed by visually estimating the flow rate. This approach is prone to errors and may result in the infusion flowing too fast or not at all. Errors in infusion therapy can lead to patient complications, longer hospital stays and extra costs for the hospital.
Monidrop has been developed to reduce these errors by helping nurses to set infusions correctly. The device is a new category device in the infusion space but is CE marked and sales started in Finland in the beginning of 2018 with first trials having already been made in 6 European countries.
Market opportunity for small devices
The global infusion therapy pump device market was estimated to be worth around 1.5 Billion USD in 2018 but existing infusion therapy devices are big, complex to use and too advanced to use in general hospital wards. As the healthcare industry is evolving with increased mobility, digitalization and automated technical solutions becoming all the more common in hospital wards, it opens up opportunities for new market players like Monidor who have a small and easy to use device.
According to Monidor’s estimates, the market size for their product category is over 200 Million USD. Approximately 90% of hospitalized patients receive IV therapy during their stay in the form of for example antibiotics or blood products for better fluid management and nutrition uptake, which makes it one of the most common methods of treatment and a critical component of modern medicine. Their focus is on selling the device to general hospital wards because that’s where the biggest demand is, since wards need easy and cost-saving solutions to improve how they administer IV therapy.
By having a device that is easy to use, quick to set up, small in size and a software that saves staff time and eliminates the risk of human error, Monidor is well on their way on giving patients the best possible care.
Funding round details
Monidor’s funding round is open until 1.3.2019 on our Co-investment Platform. The rounds lead investors include us and Butterfly Ventures.
Why Monidor is raising funding:
- To make market entries in the EU area and recruit sales people
- Commercialize infusion remote monitoring service
- Make cost-reduction to the Monidrop product in order to achieve better profitability
Why we are investing:
- They have developed a cost efficient solution for hospital wards, that enables nurses to give the best possible patient care.
- Competitive advantage over competitors by having developed a SaaS business model based IV Screen remote monitoring software.
- Experienced team with expertise in wireless device and software development as well as medical expertise.
- ISO standard, patented device that is CE marked.
- Executed pilots in 6 European countries and have some of Finlands largest hospitals as their customers.
Meet the CEO
We’re hosting a webinar (Wednesday, February 13th, at 16:30) for investors to meet CEO Mikko Savola and Co-founder Antti Puolitaival to learn more about Monidor – welcome to join and ask questions!
How to invest
Visit our Co-investment Platform and get to know the company by downloading Monidor’s investor material. Once you are ready to invest with us, simply log into the platform with your bank id and fill in the share subscription form.
If you have any questions, would like more information or want to book a face to face meeting, please contact our Director of Investor Relations, Päivi Ihme
About Monidor:
Monidor is a health-technology company founded in 2015 who specialise in the development of small, smart devices for digital health. Currently, they have developed the Monidrop® infusion monitor, a compact device to help nurses working with patients who need intravenous (IV) therapy. Monidor has high-quality processes and a smooth workflow, following ISO13485 and the FDA medical regulations. Their employees are experts in medical technology, wireless communications, mobile software, and sensor solutions.
About Innovestor:
Innovestor is a 2014 founded startup venture investor and provider of equity funding solutions, who has the largest private growth company portfolio in the Nordics with around 113 companies. We manage two Venture Capital funds and actively make direct investments into early-stage technology driven startups in the Nordics. Unlike any other venture capital investor in Finland, we also operate an online Co-investment Platform, through which private investors can invest together with us into our pre-vetted target companies. To date, we have invested around 125 million euros and have roughly 500 co-investors. Additionally, through our strategic ownership in Kasvun Roihu, we operate Finlands largest pro-bono growth sparring competition Kasvu Open and Grow to Market acceleration programs for founders and partners. We have offices in Helsinki (HQ), Jyväskylä, Stockholm and Moscow. For more information please visit https://innovestorgroup.com/
Monidor in the media:
Monidor raises standards for infusion therapy with a new device tested in OYS TestLab (OuluHealth, Published 2.3.2017)
Oululaisyrityksen laite helpottaa sairaanhoitajien työtä ja parantaa turvallisuutta – “eikä potilaiden enää tarvitse aina sietää muiden potilaiden meluamista” (Tekniikka & Talous, Published 4.12.2017)
Oululainen Monidor kehitti tippalaskurin potilaita varten (Kaleva, Published 12.5.2017)