Medarca secures SEK 9.5 million

Medarca, a Malmö, Sweden-based software developer of a drug management solution for the elderly, announced that it raised the capita in a SEK 9.5M ($1.1M) funding round.

The money was raised from a range of local investors, and included an equity contribution of SEK 4 million made by Almi Invest. Proceeds will be used to transition the operations from development and launch to growth and expansion both in Sweden and in the EU.

Medarca, founded in 2019 by CEO Lars Malmgren, developed an integrated solution that aims to reduce the administration and provides safer medication management with digital medicine cabinets. The solution consists of a hardware that physically handles the medications and a software that checks that the medications are handled properly. The result is drug handling that requires less administration, increases safety and reduces the wastage of drugs through clear inventory management.