April 13, 2017

NewIcon sets its sights on international markets

The company aims to tenfold its turnover in the next five years.
The company aims to tenfold its turnover in the next five years.
istock.com/zorazhuang

Finnish automation specialist for the medical industry, NewIcon, has raised 4.4 million euros in crowdfunding, a record amount in Finland according to the company.

Based in the Finnish city of Kuopio, NewIcon supplies automated storage robots to hospitals and pharmacies and plans to spend the funding on reaching international markets.

Not stopping there, the company aims to tenfold its turnover in the next five years, by striving to become a market leader in the Nordic region and get a solid foothold in the European and Middle Eastern markets.

“The result is exellent,” says Ossi Parviainen, CEO of NewIcon. “The funding gives us something to lean on, with the help of which we can move forward on our growth and internationalisation plans.”

The large funding comes after the cap on crowdfunding without separate approval from the Finnish Financial Supervisory Authority, was raised last year, from below 2.5 million euros to 4.99 million euros.

The crowdfunding was organised by Kansalaisrahoitus, whose CEO, Toni Lahti commented, “The strong growth prospects in the medical industry and the ethical aspect of the field were certainly a factor in attracting investments. And of course the solution NewIcon offers, as well as their strong market position in Finland.”

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