Cortrium raises capital investment from inQvation

Cortrium, a Copenhagen, Denmark-based medical company manufacturing accessible devices integrating with both own and 3rd party stand-alone and cloud-based analysis software, announced in a press release securing capital investment from InQvation. The financial details of the deal remain undisclosed.

The investment will be used to establish a sales organization in Germany as well as to scale the business of new markets in the coming years. As part of InQvation's investment strategy, the investor will be included as an active part of the company day-to-day management and operation rather than exercising sole influence as passive owner.

Cortrium, founded in 2014 as a spinoff from Nokia's R&D department and led by CEO Karsten Madsen, has developed a smart ECG device called C3 Holter Monitor, able to detect and track patients' critical symptoms. C3 consists of a three-channel ECG that can screen for heart disease such as heart fibrillation, and develop to also be able to register other health-related data. It is a small device with no wires attached directly patient's breast under the clothes, it weighs only 30 grams and has a battery life of 48 hours.

In 2015, Cortrium raised €1.5 million.