As a development stage company, MedTrace is relying on strong and visionary investors able and willing to back our way to market. In addition to risk capital MedTrace has also secured soft funding in form of grants and awards. Read more below.
When MedTrace was founded in 2015, the first seed-investors were SydDansk Innovation (SDI) and WelfareTech Invest (WTI). Soon thereafter, a group of private people formed MedTravest, an investment company solely focused to invest in MedTrace.
Over the years, more than 30 private individuals have invested in MedTrace funding our way through the product development stages. In beginning of 2021 MedTrace began talks with Swisscanto Private Equity from Switzerland about the Series B financing to fund the upcoming phase III clinical trial. Swisscanto formed a syndication with ATP, BankInvest and Vækstfonden from Denmark and the European Innovation Council and injected a total of DKK 180m (approx. €25m or $30m) into MedTrace along with a group of existing shareholders and employees.
In MedTrace’s early days, the company successfully managed to attract grants from the Danish market maturity fund (DK: Markedsmodningsfonden) and later also from Innovation Fund Denmark. In recent history, MedTrace was awarded an EIC Accelerator Pilot grant of €2,5m to clear the regulatory pathway to market in five European markets.
As part of MedTrace foundation, the company signed up for the Danish Tech Challenge (DTC), a hardware accelerator funded by the Danish Industry Foundation and hosted by DTU Science Park. The MedTrace team learned how to build a life science company from scratch from many experienced mentors during this period and is still proud of having won the 2015 DTC Award of DKK 500,000. MedTrace is also proud to have been awarded the 2015 Nordic Venture Forum’s startup award in the Life Science Category, the 2019 RESI JP Morgan award and for being runner’s up in the MTI Life Science Pitch award in Lausanne 2019.