Meloq takes in SEK 4M for the measuring of body angles

Meloq, a Stockholm, Sweden-based medtech startup, announced raising SEK 4M ($450k) in a seed investment funding round.

The backers include Propel Capital, Vinnova and local business angels. The share issue was oversubscribed by 30 per cent, and consists of SEK 3.3M from six private investors and Propel Capital III, as well as funding from the EU program and Vinnova totaling SEK 0.7M.

Meloq, founded in 2013 and led by co-founder and CEO Rui Chen, has developed Easy Angle, a digital instrument that allows physiotherapists to measure angles in all the body's joints, something that requires several different types of tools to do. Easy Angle is a digital medical device that replaces all other instruments, such as the goniometer and Myrin meter, each of which measures the different angles. It makes so-called motion measurement easier and more accurate, and digitization means that you do not have to record the measurement results with paper and pencil.

Meloq sold 350 units and will use the investment to further expand internationally, with planned product launches in Denmark, France, Germany and England for 2017.