Tallinn-based medtech DrugCard raised investment from Latvian fund New Nordic Ventures

Tallinn-based automated medical literature monitoring solution DrugCard raised investment from Riga-based fund New Nordic Ventures and Ukrainian business angel Petro Chernyshov. At the initial stage, New Nordic Ventures usually invests from €200K to €300K as a solo or lead investor. 

Founded in Tallinn in 2021 by Ukrainian entrepreneurs Dmytro Gorilik, Artem Horilyk and Myroslav Demchun, DrugCard’s software has a database of medical and scientific literature from 37 countries. The database includes more than 550 local journal sites and publications from the European Medicines Agency (EMA), the World Health Organisation (WHO), the Food and Drug Administration (FDA), and others. The startup's clients can get reports on adverse drug reactions (ADRs) and reports for regulatory authorities. 

Founded in 2021 by Dmitry Saikovsky and Kirill Jurzditsky, New Nordic Ventures supports seed-stage B2B software startups from CIS or CEE regions. The investment company can provide up to €1,5M in follow-on rounds as a lead investor or co-investor. In January 2023, New Nordic Ventures invested in Georgian-Ukrainian AI marketplace Crosscreators and Yerevan-based (Armenia) synthetic animated avatars for businesses Oh My Synt.