May 28, 2019
The daily brief: 28 May 2019
The Finnish startup Swappie, which trades in refurbished iPhones, has raised significant coin for its international expansion.
All the daily Finnish business news that works: Swappie, Pemamek, Nexstim and Teleste make headlines.
Finnish company Swappie has raised serious funding, Pemamek is delivering panel cutting stations to a French shipyard, Teleste is supplying its passenger information solution in Canada, and Nexstim has entered the Canadian healthtech market.
Finnish startup Swappie, which sells refurbished phones, has raised 4.5 million euros from Inventure, Lifeline Ventures and Reaktor Ventures, as well as 500 000 euros from the Finnish public company Business Finland. Swappie will use the funding towards international expansion. The startup reported 8.1 million euros in revenue last year, in only its second year on the market.
Finnish company Pemamek has received an order for two highly automated PEMA panel cutting stations from Chantiers de l’Atlantique (CDA), to be delivered to the Saint-Nazaire shipyard in France. The new stations will allow CDA to significantly improve throughput time, increase capacity and maintain high production quality in panel processing. The order, to be delivered as a turnkey solution, is a continuation of collaboration between the companies. The stations will be ready for production by the end of 2020.
Finnish technology company Teleste’s passenger information solution has been selected by TransLink for the SkyTrain rapid transit system in Vancouver, Canada. TransLink is the transport network of Metro Vancouver. Teleste’s solution enables the real-time delivery and management of passenger information for public transport infrastructure. It will initially be installed at 33 stations, with deployment already underway.
Finnish targeted neuromodulation company Nexstim, which develops non-invasive brain simulation systems for diagnostics and therapy, has sold a navigated brain stimulation (NBS) system to the Jewish General Hospital in Montreal, Canada. Nexstim had only received its medical device license from Canadian authorities in March 2019. The NBS system is used, for example, when a patient has been diagnosed with brain tumour or other disorder and the lesion is close to functional areas of the brain.
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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