Neuro Event Labs has been selected in a new venture capital fund founded by leading Finnish technologists. The fund invests 500,000 Euros in the company. This complements an investment of 100,000 Euros by OmaMedical and 1.3 million Euros made by Business Finland, a Finnish national growth acceleration organization.
The new fund being established, Maki․vc, will become a major Nordic venture capital fund with up to 70 million Euros (approx․ 86 million USD) total fund size. The fund is founded by Mr. Ilkka Kivimäki, chairman of the board for leading global startup event Slush and Mr. Pirkka Palomäki, a former executive at the F-Secure Corporation. Fund investors include leading Finnish technologists such as Mr. Risto Siilasmaa, chairman of the board for Nokia and Mr. Ilkka Paananen, founder of leading gaming company Supercell.
Neuro Event Labs was selected due to its extremely promising technology based on computer vision, machine learning and IoT solutions. Also, the company’s product, validated by existing clients, was seen to have very strong potential to disrupt the traditional health care industry internationally.
“We’re extremely happy to have world-class investors backing our international growth. Our mission is to help doctors provide better and more efficient treatment for the 65 million epilepsy patients in the world. There is an immediate demand and interest for our product,” says Mr. Kaapo Annala, Neuro Event Labs CEO.
Neuro Event Labs is actively building expansion to international markets. In Finland, the company is cooperating with several hospitals for product development, epilepsy research and commercial applications.
About Neuro Event Labs
Neuro Event Labs is a Finnish medical technology growth company. The company’s main product monitors epilepsy patients at home and in hospital. Accurate epilepsy seizure data is collected, analyzed and relayed to the patient’s physician, who makes individual treatment decisions based on the reports. The solution has been developed on close cooperation with leading Finnish hospitals. https://neuroeventlabs.com
Read more at STT (article in Finnish).
Last year at Slush, we demonstrated our AI-powered epilepsy monitoring service to a wider audience. Since then, we have doubled our efforts to provide a stronger and smarter deep learning system that can help neurologists to utilize the quantitative and objective data that we provide; something we already see providing better individualized treatment for patients with epilepsy.
The Neuro Event Labs leadership team has been selected as the winner of the 2018 Tampere City Innovation Award. The selection committee highlighted the team’s innovative solution utilizing the latest computer vision and machine learning technologies, combining those technologies to solve real problems in epilepsy. Neuro Event Labs’ product, Nelli, helps doctors to better diagnose and monitor patients, especially in home environments as part of the patient’s normal life.
Tampere University Hospital (Tays), Neuro Event Labs’ key client, has been using our epilepsy monitoring solution together with a vagus nerve stimulator (VNS) to treat patients with epilepsy and to evaluate the effectiveness of the treatment. As part the cooperation, a Tays patient used NEL’s night-time epilepsy monitoring solution for a full month, right at the patient’s home.