Qlucore secured SEK 30 million in a pre-IPO private placement led by Eiffel Investment Group.
Qlucore, a Lund, Sweden-based SAAS developer of visualization-based analytics for healthcare providers, announced completing a SEK 30 million ($3.4M) capital investment round.
The money was raised from investors led by Eiffel Investment Group, a French asset management firm.
The proceeds will predominantly be used to accelerate sales activities and expand the technical team prior to an initial public offering planned within the next twelve months on the local stock exchange.
Qlucore was founded in 2007 by Thoas Fioretos, Magnus Fontes, Johan Råde and Carl-Johan Ivarsson as a research project at the Lund University. It is developing Qlucore Omics Explorer, a DIY next-generation bioinformatics software for research in life-science, plant and biotech industries, as well as academia.
The company has over 200 customers, including universities and large pharma companies. Whilst continuing to expand its core business, Qlucore anticipates that cancer diagnostics will see the biggest growth in the future.