About Finnadvance
Finnadvance is a Healthcare company based in Oulu (Finland) founded in 2018 by Prateek Singh. Microfluidics and microtechnology solutions are developed for drug permeability testing. Finnadvance has raised $1.9 million across 4 funding rounds from investors including European Union, Athensmed and Takoa Invest. Its chief executive, as recorded, is Prateek Singh. Finnadvance offers products and services including AKITA® Plate, AKITA® Lid, and AKITA® Wave. Its focus areas include Life Sciences, Life Sciences Platforms and Tools, Instruments and Microfluidics. Its legal entity is Finnadvance Ltd.
Company details
Finnadvance was founded in 2018 in Oulu, Finland, within the biotechnology sector. Microfluidics and microtechnology are utilized to create high-throughput biological barrier models on chips. These models replicate human tissues, including vascular, lung, and blood-brain barriers, for evaluating small molecule and nano-formulation permeability and toxicity. Dynamic cell cultures are employed to simulate in-vivo conditions, supporting drug development processes.
- Headquarters Oulu, Finland
- Founders Prateek Singh
- SectorsHealthcare
- Email••••••••
- Phone•••• ••••
- Website finnadvance.com
- Social LinkedIn X
- Legal Name Finnadvance Ltd.
- Total Equity Funding$1.9M (USD)
in 4 rounds
- Latest Funding Round$1.3M (USD), Seed
Apr 2022
- InvestorsEuropean Union
& 6 more
Products & Services of Finnadvance
Finnadvance offers a comprehensive portfolio of products and services, including AKITA® Plate, AKITA® Lid, and AKITA® Wave.
High-throughput platform for in-vitro drug testing models
Enables simultaneous TEER measurements in tissue cultures
Optimized device for compatible microfluidic research
Funding Insights of Finnadvance
Finnadvance has successfully raised a total of $1.9M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $1.3 million completed in April 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.9M
- Total Rounds 4
- Last Round Seed — $1.3M
- Investors Count 7
All 4 funding rounds of Finnadvance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2022 | $1.3M | Seed | – | Athensmed | |
| Apr 2022 | $317,473 | Grant | – | – | |
| Apr 2020 | $596,113 | Seed | – | Voima Ventures | |
| Dec 2018 | Seed | – | Icebreaker | – |
7 investors in total: 5 institutional and 2 angel.
Investors in Finnadvance
Finnadvance has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include European Union, Athensmed and Takoa Invest.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| athensmed.fi | ||||
A Finnish family-owned investment company focused on growth-oriented businesses. | takoa.fi | Helsinki, Finland | ||
Funding is provided for deep tech ventures in Nordics. | voimaventures.com | Helsinki, Finland | ||
Seed and early-stage tech investments are targeted in Finland. | icebreaker.vc | Helsinki, Finland | ||
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
LN Leena Niemistö | unknown_1657777820c641ce8 | |||
ST Sauli Tormala | Finnish angel investor in Indian startups, focused on tech and innovation. | unknown_8a71687a1b184163b |
Investor details for Finnadvance
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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People of Finnadvance
7 people are tracked at Finnadvance (4 in leadership, 3 in team).
| Name | Role | Group |
|---|---|---|
Prateek Singh | Founder & CEO | Leadership |
Tuan Hoang Nguyen | CTO | Leadership |
Sebastien Mosser | Chief Scientific Officer | Leadership |
Jari Moilanen | COO | Leadership |
Jere Kettunen | Lead Biofabrication Engineer | Team |
Anniina Palojärvi | Fabrication Engineer | Team |
Pauliina Junttila | Laboratory Manager | Team |
Complete people profiles for Finnadvance
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- Full employee list
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Timeline of Finnadvance
3 dated milestones of Finnadvance across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Finnadvance is founded.
- Funding First funding round.
- Funding Latest funding round, Seed, of $1.3M.
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Frequently Asked Questions about Finnadvance
Finnadvance was founded in 2018.
Finnadvance is headquartered in Oulu, Finland. It is registered at Oulu, North Ostrobothnia, Finland.
Prateek Singh is the CEO of Finnadvance, as recorded in our data. They have also founded this company.
Finnadvance is a funded company, having raised a total of $1.9M across 4 funding rounds to date.
Finnadvance was founded in 2018 in Oulu, Finland, within the biotechnology sector. Microfluidics and microtechnology are utilized to create high-throughput biological barrier models on chips. These models replicate human tissues, including vascular, lung, and blood-brain barriers, for evaluating small molecule and nano-formulation permeability and toxicity. Dynamic cell cultures are employed to simulate in-vivo conditions, supporting drug development processes.
Finnadvance offers AKITA® Plate, AKITA® Lid, and AKITA® Wave.
Finnadvance has 7 investors. Key investors include European Union, Athensmed, Takoa Invest, Voima Ventures, and Icebreaker.vc.
Finnadvance operates through Finnadvance Ltd..