Finnish diabetes technology company Mendor announced yesterday to have completed a new series of growth financing for further global expansion totaling 6,5 million euros. The financing came from Luxembourg based IPF Partners.
Mendor is a fast growing company committed to the design, development and commercialization of next generation diabetes care products. Just last January the company completed 4,7 million funding round. Within the past 3 years Mendor has raised over 19 million euros for growth and development. Company is headquartered in Espoo, Finland.
Company says it’s vision is a future where diabetes care is integrated, individual and outcome driven. It’s two main products are Mendor Discreet, a unique all-in-one blood glucose monitoring system, which contains all the necessary components for daily blood glucose measurements, and Mendor Balance, a cloud-based diabetes data analytics and care platform for storing, sharing and analyzing individual glucose data from more than 30 different glucose meters, for the improvement of diabetes care.
IPF Partners is a leading alternative financing provider focused on the European healthcare sector. IPF I, the first fund managed by IPF, invests directly in emerging, commercial-stage European pharma/biotech, medtech and diagnostics companies. The company was founded in 2011 by a seasoned multi-disciplinary team combining over 50 years of finance and investment and over 30 years of healthcare experience.Following its first closing in October 2013, the fund has €80 million of assets under management.
Press release available at: www.mendor.com/Files/Mendor-raises-6.5MEUR-07072014.pdf