Chinese Ascend Capital Partners invests two million Euros in Grundium

Chinese investment firm, Ascend Capital Partners, has invested two million Euros to help Grundium OY develop their innovative portable digital microscope scanner. Grundium’s vision is to bring a digital microscope scanner on every pathologist’s desk. Their unique product will transform the field of pathology by enabling professionals to scan and digitize high-resolution images immediately from operation rooms, research centers, and any remote locations, thus enabling faster analysis and diagnoses. Grundium’s new product will be launched globally in Spring 2018.

“The de-centralized and portable scanner will make a huge impact on people’s lives globally as more than 70 percent of all diagnoses will involve pathology tests in the future. After two years of careful developing, it is time to shift gears and bring out a product with our patented state of the art imaging technology”, says Mika Kuisma, CEO of Grundium.

With this investment, Grundium will be among the first companies to seize the untapped market for mobile digital pathology, which is estimated to be worth USD 726.2 million by 2023. Currently tissue samples are delivered to central labs where they are stored and digitized – a process that can take up to several weeks. The global shortage of pathologists emphasizes the need for Grundium’s product even further; for example, in the US there are only 44 pathologists per one million people.

Grundium’s digital scanner’s performance-to-price ratio and portability sets it apart from current technologies at competing firms. Coupled with the founders’ experience as former Nokia engineers in imaging technology, Ascend seized the opportunity to invest in Grundium. This investment capital will be used to finalize development of the new digital microscope scanner, grow the sales and marketing team and ramp up manufacturing. The product will be available for sales in 2Q/2018 in Europe and the US.

Grundium is part of Ascend’s newest round of investments in early stage high-tech companies. In addition to capital, the Ascend team brings access to markets in every continent and will help the company to expand internationally across Europe, China, and the US. “We are very excited to have closed this deal with Grundium. The company’s unique solution and expertise brings enormous potential for international markets. We know that Ascend can help them to grow”, says Monita Mo, CEO Ascend Capital Partners.

Grundium and Ascend Capital Partners initially met at Helsinki’s startup and tech conference Slush in 2016. The new investment was officially announced at this year’s Slush event.

More information:
Grundium: CEO, Mika Kuisma, +35850 354 6952 mika.kuisma@grundium.com
Ascend: Ascend PR Contact, Elaine Mo, elaine@ascendvp.com.cn, Tel: +1 973-978-1719

About Grundium
Tampere-based Grundium is a global leader in advanced imaging technology. The company’s cutting-edge camera solutions are based on over 20 years of experience in optics, sensors and processing. The company has produced high quality imaging solutions serving various industries and companies to enhance quality and processes, protect human life and safeguard a clean environment. The company was established in 2015 by ex-Nokia engineers and employs 15 professionals. www.grundium.com

About Ascend Capital Partners
Ascend Capital Partners is a leading international venture capital and financial advisory firm committed to providing world-class corporate financial services and investment opportunities to innovative companies who have potential to grow and expand internationally, especially in Europe, China, and the United States. With extensive regional and international networks, and insight into Chinese and Western capital market worlds, Ascend has set itself apart from other pure advisory firms and pure private equity funds. For more information, please visit www.ascend-cp.com