Finnish Industry Investment in €2.3m round for NewIcon

The fresh capital will help the company develop its products for use in the medical industry, as well as build an international sales network.

FII investment director Heli Ahlroos said the deal aimed to boost the development of a Finnish hi-tech export company, and investments into the health sector was a focal point for the government investment company's Industrial Renewal investment scheme.

Company
Headquartered in Kuopio, NewIcon develops, manufactures and sells automation products and services for handling medicines and laboratory equipment.

Its products include automated storage systems, smart storage cabinets, robots, and software for these applications.

Founded in 2007, the Finnish company had sales of €3m in 2013 and employs 31 people.

People
Heli Ahlroos is an investment director at FII and Pekka Ahlajärvi is a portfolio manager at Etera. Ossi Parviainen is the CEO of NewIcon.

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• Topics
• Expansion
• Nordics
• Healthcare
• Finland
• Finnish Industry Investments