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> €7,864,000
raised
4
successful funding rounds
> 2,670
investors
€3.25 million
funded in last round within 7 days
Injeq is a medical technology company from Finland that has developed a smart needle for lumbar punctures. The needle can be inserted into the spinal cord with high precision and warns as soon as it comes into contact with spinal fluid. This is relevant for cancer patients, for example, as otherwise cancer cells can enter the central nervous system from the bloodstream.
The crowd has been supporting Injeq since 2017 as the company conquers and revitalises the medical technology market with their Smart Needle. The funding was used to successfully complete important studies needed for market approval. In 2021, the Smart Needle was officially certified.
In three funding rounds, investors were able to participate directly in the company's progress in the form of shares. In total, more than 1,600 investors participated, investing over €5.3 million. In the fourth funding round in March 2022, Injeq issued a convertible bond. Within 7 days, the company raised 3.25 million euros.
The European market approval for the IQ-Tip® product family has been granted. The next step is to obtain US market approval. With the latest funding, Injeq is pushing ahead with the launch in Europe. At the same time, production will be expanded to meet increasing demand and potential pricing pressure. The latest crowdfunding also acts as bridge financing in preparation for the IPO.
Injeq's main goal is to bring the IQ-Tip® to the European market. This goal requires CE-certification, which the company is seeking. In early 2021, Injeq's focus will shift from certification to market entry and thus to the commercial phase.
The primary goal is to make the IQ-Tip™ available for the European market. For this, EC-certification of the product is indispensable, for which Injeq must have complete production facilities in order to have them audited. The optimisation of processes in production, packaging, storage time, traceability, biocompatibility and clean room monitoring are therefore prioritised.
The funds from the first round were mainly used for product manufacturing and the expansion of clinical trials. To further increase the available funds, the capital raised was leveraged by a product development loan from the Finnish Funding Agency for Technology and Innovation (TEKES), investments from a private equity investor and a bank loan.
"We would like to sincerely thank all investors who have supported us for the last 5 years and believed in the IQ Needle since the beginning!"
Tommi Rasila, Dr. Tech. Chairman of the Board
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Email: service@invesdor.com
Phone: +49 30 364 285 707
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Marko Müller
Senior Customer Success Manager
DE | EN
Sebastian Kutschker
Customer Support
DE | EN