Celje-based startup MedicoApps, the recipient of Slovene Enterprise Fund’s SK75 investment of the autumn 2015 generation and PODIM Conference 2017 participant, succeeded in obtaining the trust and investment of the Swiss investment company AlpVent AG in the value of 100,000 EUR. This January, the team had successfully tackled the collection of pre-orders for FlySentinel, a smartwatch for pilots with excellent design. The Business Angels of Slovenia club stood by their side while they were preparing, obtaining and carrying out the investment. MedicoApps will now open an office in Switzerland, and the fresh capital will be dedicated to further development of the main product FlySentinel, expanding the team, and financing penetration to foreign markets.
They were looking for smart money
The ownership entry of AlpVent into MedicoApps isn’t bringing only fresh capital but also strategic support, consulting in entering foreign markets and the development of the company to a higher level, in the business as well as organizational sense. The MedicoApps team currently consists of top experts from the fields of medicine, electronics, computer science, and industrial design. The experience and knowledge of individuals who stand behind the FlySentinel product were exactly one of the main reasons that convinced AlpVent to invest in the company. “When looking for a new investment round, we were looking for smart money, an investment that brings not just money but also consulting, and we’re happy that we succeeded in this,” is what the CEO and co-founder of MedicoApps, Primož Grajžl, said at this opportunity.
The core of manufacture and development remains in Slovenia
“Slovenia has enough quality and motivated staff for us to keep the company in Slovenia, where the core of the manufacture and development will remain, while the Swiss-based MedicoApps AG will take over the sales and marketing on foreign markets,” explains Primož Grajžl.
The company is currently preparing to launch manufacture for final users, to whom they will deliver the first 100 items of the FlySentinel watch. They were collecting pre-orders at the start of this year, and customers include those from Slovenia as well as the EU, US, and Australia.”
Product upgrade by discovering fatigue patterns in pilots
When further developing the FlySentinel watch, the company is opening a new segment, as they wish to add even more value to their main product by analyzing the gathered information and discovering fatigue patterns in pilots. For this purpose, they decided to collaborate with the Institute of Informatics at the Faculty of Electrical Engineering and Computer Science in Maribor.
Sara Isaković also joined the team
As part of the mentioned analyses, MedicoApps will also evaluate the psychological aspect of influences on pilots and how to prepare pilots to tackle stress. That is why the team was joined by Olympic athlete Sara Isaković, who has a lot of experience from this field and whose recognizability and reputation will support the project and product. Additionally, MedicoApps started connecting with foreign manufacturers of plane electronics, with which they will more easily break through to foreign airlines, military aviation, and plane manufacturers.
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