VC-backed Valkee raises €7.4m

In 2010, the firm raised a €400,000 seed round from Lifeline Ventures and several business angels. The latest round saw existing and new investors participate, including an unnamed international fund.

The company intends to direct the funds towards the expansion of its market areas, reseller network and user cases.

Company
Founded in 2007 and based in Oulu, Valkee has developed a pocket-sized light therapy device that channels light via the ear canals into the brain. A daily 12-minute dose has beneficial effects on mood and wellbeing, according to a study by the University of Oulu.

The firm's strongest customer base is in the DACH region, Nordic countries and Japan.

People
Timo Ahopelto is a partner at Lifeline Ventures and chairman of Valkee. Pekka Sommerto is CEO of Valkee.

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• Topics
• Nordics
• Consumer
• Expansion
• Finland