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16 May 2024·2 min read

Dara Kachinska

News Editor, Vestbee

Estonian Nanordica Medical raises €1.75M led by Specialist VC

Tallinn-based healthtech company Nanordica Medical has announced a raise of €1.75 million for its antimicrobial dressing. The round was led by Estonian fund Specialist VC, with the participation of Superangel and Amalfi.

  • Nanordica Medical was founded in 2019. This startup creates a technology that is a combination of antibacterial nanoparticles that offers eight times more effective treatment for infected wounds than what is considered conventional, as Nanordica says. 
  • The round was led by the Estonian fund Specialist VC that invests in early-stage tech startups, from pre-seed to A-round. Specialist VCs main focuses are on B2B, SaaS, fintech, and marketplaces. At this moment, it has more than 55 startups, including companies like Bolt and Veriff. 

“We are already curing patients with severe wounds, and closing this round enables us to do it at scale,” said Olesja Bondarenko, co-founder of Nanordica Medical. 

  • Using the funds, in Q2 2024, the Nanordica Medical team is planning to conduct a trial including 170 patients with diabetic foot ulcers. This will be one of the biggest studies of its kind that will allow Nanordica Medical's wound care products to be included in reimbursement and treatment guidelines.
  • Nanordica Medical also plans to establish its product for humans on the market in 2025. Its first wound dressing, called Ravimus Vet, was for animals. 

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