Motitech completes an investment round from Ferd Capital.

Motitech, a Bergen, Norway-based company developing technology that helps senior citizens to become more physically active, announced in a press release that it added capital investment from Ferd Capital.

The transaction, which has financial details undisclosed, was made through the Ferd Social Entrepreneurs Fund, which will own 20% of the company. Money will be used to scale the company's business in new markets.

Motitech, founded in 2013 and led by CEO Jon Ingar Kjenes, aims to help institutions and day-centres to provide increased exercise opportunities for seniors. The company has developed Motiview, a motivational aid that stimulates seniors and people with dementia to increased physical activity.

Using moving images and sounds, users can embark on cycle trips in familiar surroundings or childhood memories. The company also delivers a wide selection of exercise apparatus, including Thera Trainer Tiego and MOTOmed VIVA.

Motitech has 300 customers in the Nordic countries, Canada and England with a repurchase rate of 95%. The company established a subsidiary in UK in 2018 and plans to open an office in Canada.