Finland based medtech startup Monidor secured US$ 1.2M funding in its latest investment round from deep tech fund Voima Ventures and Innovestor. Monidor is backed by Butterfly Ventures and other private investors.
Monidor helps clinicians in their work and also improves patient safety with easy-to-use solutions. The funds raised will be used to respond to the urgent needs for safe patient monitoring solutions raised by COVID-19. The funds will also be directed to the future growth of Monidor.
Founded in 2015, by Antti Puolitaival and Mikko Savola (CEO), Monidor provides integrated smart solutions for intravenous therapy given in hospitals. Its aim is to bringing efficiency and accuracy into the field of patient care. The first product of Monidor was launched in Feb 2020 called ‘Monidrop’.
Monidor is the brain child of one of the co-founders Antti Puolitaival. As a doctor, he kept facing the consequences of inexact infusion in his daily work. Since infusion therapy is monitored manually, it is often inaccurate and overburdens the hospital staff. Some devices used to measure infusion treatment that are already in the market are pretty expensive and only available to the intensive care patients. To solve this problem Puolitaival envisioned Monidrop.
Monidrop is a small, precise and easy-to-use solution. It is an infusion meter combined with the ‘IV Screen’ and remote monitoring feature. It wishes that the patients get the exact treatment that they require and the nurses save their valuable time.
“We received a lot of inquiries from distributors all over Europe as hospitals needing help quickly equipping their new hospital wards dedicated for Covid-19 patients”, said Monidor’s Sales Director Jan Prokofjeff.
“The population is ageing and living standards are on a rise in Asia. The Infusion Therapy market is continuously growing”, said CEO Mikko Savola.
With the COVID-19 pandemic, the demand for safe patient care solutions has surged and so has the sales of Monidrop. Monidrop is looking forward to create straightforward installation processes so that nurses could easily set it up and work efficiently.
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