New Icon raises EUR 4.99M, becoming one of the largest crowdfunding investment from Finland.

Finland Investments 12 April 2017
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NewIcon, a Kuopio, Finland-based robotics company for hospitals and pharmacies, announced closing a EUR 4.99M ($5.35M) crowdfunding campaign on Kansalaisrahoitus. The investment is allegedly one of the largest crowdfunding campaign from FInalnd to date.

The money was raised from more than 300 investors and the campaign was started in the fall of 2016, shortly after the Finnish Financial Supervisory Authority raised the cap for crowdfunding investments from below 2.5 million euros to 4.99 million euros.

New Icon, founded in 2006 and led by CEO Ossi Parviainen, manufactures automation solutions for hospitals and pharmacies with technology that relies on robotics and the Internet of Things. The company intends to use the funding for developing new international markets in order to increase revenues 10x in 5 years.

Prior to this, at the beginning of 2016, New Icon has received an eight million euro loan from the European Investment Bank (EIB) for its development and innovation activities in the field of medicine logistics.