Augere Medical, an Oslo, Norway-based medical device company, raised NOK23M in first close of its funding round.
Shareholders in the company include:
| Shareholders | Shares | Percent | |
| 1 | AM Equity | 76,414 | 30.5% |
| 2 | MP Pensjon | 37,590 | 15.0% |
| 3 | Farvatn Venture | 33,750 | 13.5% |
| 4 | Simula Innovation | 29,930 | 11.9% |
| 5 | Private investors who each hold less than 5% of the shares | 64,325 | 25.7% |
| 6 | Employees | 8,615 | 3.4% |
| Total | 250,624 | 100.0 | |
The company intends to use the funds to strengthen the European sales and marketing efforts as well as hire skilled AI development engineers.
Founded in 2018 and led by interim CEO David Borge Larsen, Augere Medical is a medical device company developing systems based on Artificial Intelligence (AI) to improve polyp detection rates during screening for colorectal cancer. Its first product, the PolypAIDTM system, is being developed in cooperation with colonoscopists and in close cooperation with its internal development resources and the research group at Simula Research Laboratory.
The company is supported by Norwegian investors and has received public grants from Innovation Norway and the Research Council of Norway.
Augere has now started the European launch of the PolypAIDTM system, and this system is not available in other geographies at the current time.
FinSMEs
19/11/2024