Cerenion secures EUR 500k from Butterfly Ventures and Icebreaker.vc.
Cerenion, an Oulu, Finland-based medical company working on a technology that monitors the brain function of intensive care patients, announced securing an EUR 500k ($615k) seed investment.
The money comes from local early stage investors Butterfly Ventures and Icebreaker and will be used to further take the company's technology to market, as well as to expand its multisite clinical study program and seek regulatory certification for its technology.
Cerenion, founded in 2017 and led by CEO Timo Koskela, developed C-Trend, a brain monitoring technology based on standard EEG-measurement, advanced machine learning algorithms and artificial intelligence. The C-Trend solution aims to reveal the status of the brain as one simple score – at the bed-side and without requiring any changes to the care of the patient.
The technology was developed at the University of Oulu, Finland, and underwent clinical studies at the Oulu University Hospital, Finland, as part of a two-year TEKES-funded business development project. Cerenion Oy was set up in May 2017 to become the new custodian of the technology and the vehicle for its commercialization. The company was founded by the key personnel of the original research project, all of whom are now employed by the company.