Medicoo receives $1M in funding for a virtual medical center.

Medicoo, a Stockholm, Sweden-based provider of a virtual medical services center has raised $1M in both debt and equity from local angel investor Magnus Wahlbäck.

Magnus Wahlbäck has both invested SEK 5M (570k) directly in the company and provided a loan to complete the investment. Magnus Wahlbäck steps simultaneously as chairman of the company.

The new capital will be used primarily for the commercial launch of the service.

Medicoo, founded in 2016 by Philip Segenmark and Richard Ljungberg (CEO), developed a virtual medical center that makes available doctors for online consultations via video or chat.