Tallinn-based developer of wound care products Nanordica Medical has raised €1.75M
Nanordica Medical, an Estonian developer of antibacterial wound care products to prevent infection-related amputations, has raised €1.75M. The round was led by Estonian fund Specialist VC, with the participation of Estonian VC Superangel and Tallinn-based family office Amalfi.
Founded in Tallinn in 2019 by Olesja Bondarenko, Meelis Kadaja, and Anna-Liisa Kubo, Nanordica Medical is a spin-off of the National Institute of Chemical Physics and Biophysics. The company has developed an antibacterial wound dressing that cures infected wounds that cannot be cured by standard treatment methods. It can be used by patients suffering from infected chronic diabetic foot ulcers. The product can help cure burns, surgical wounds, dirty traumatic wounds, and inflamed wounds
The Nanordica Medical team has combined copper with silver nanoparticles to inactivate bacterial infections. The company's product has been tested on 30 patients and showed that it heals the wound faster and more effectively than one of the most widely used silver ion-based wound dressings. Additionally, it doesn't require high concentrations, which means it doesn't damage the patient's skin cells. The Nanordica Medical team plans to conduct a larger trial on 170 patients with diabetic foot ulcers in the second quarter of 2024.
The company launched its first product for veterinary use Ravimus Vet in 2023, and in 2025, it plans to launch the human product. In April, Nanordica Medical received a €1,6M grant from Enterprise Estonia to widen the product portfolio and develop wound care products further.
Established in 1994 by Heldur Meerits, Amalfi invests in early-stage companies directly and indirectly through VC funds. The firm has more than 20 direct investments, mostly seed, and Series A. The initial ticket starts at €100K. The company's partner is the founder of the Estonian language learning application Lingvist Ott Jalakas.
Founded in Tallinn in 2017, Specialist VC is a venture capital firm that supports companies from the Baltic region, Finland, and Ukraine. The fund's partners are Kaspar Hanni, Riivo Anton, Tõnu Esko, and Gerri Kodres.
Launched in 2018 in Tallinn by Veljo Otsason and Rain Rannu, Superangel invests in pre-seed and seed startups from the Baltics and Nordics. The General Partners are Marko Oolo and Mikko Silventola. The fund focuses on deep tech, AI, mobility and logistics, fintech, and SaaS. A typical ticket size is between €300K and €800K
