BoneProx announced raising SEK 10.5 million from BioGaia Invest and Backing Minds.

BoneProx, a Gothenburg, Sweden-based company providing a software solution for diagnosing major public diseases, announced the completion of a capital raise totalling SEK 10.5M ($1.3M).

The money was raised from local investors from Sweden, including BioGaia Invest and Backing Minds.

In connection with the investment, Boneprox and BioGaia Japan will collaborate to detect patients at risk for osteoporosis, while BioGaia's bone health product, BioGaia Osfortis, will be offered to people with low bone density.

BoneProx, founded in 2013 by Anton Kärrbrink, Peder Remman, Theodor Remman (CEO) and Shreya Desai, developed a method/service that makes it possible for dentist to examine the risk of fractures caused by osteoporosis for their patients. With Boneprox's patented technology, osteoporosis can, among other things, be detected through dental x-rays. Osteoporosis is a bone disorder characterised by low bone mass causing bone fragility. Early diagnosis is crucial to prevent high disease burden. 

The company has around a hundred dental clinics on its customer list in Sweden, Japan and Canada.

BoneProx previously raised $500k from Backing Minds in 2020.