Copenhagen-based practice management platform Kara Connect has raised 6.3 million dollars from the Iðunn Enterprise Fund managed by Icelandic Kvika Asset Management. Danish startup’s online platform enables clinics and teams in the health and welfare sectors to help their clients. The capital will pave the way for the company’s growth across Europe. Pétur Richter is also joining the board.
The Iðunn Enterprise Fund manages the 6 million euro financing of Kara Connect
Iðunn venture capital fund, which is run by Kvika Asset Management, is a leading investor in EUR 6 million financing at the innovation company Kara Connect, and will be Kara Connect’s largest shareholder. The funding is intended to support the growth of Kara Connect in Europe.
Kara Connect is a versatile workplace that connects health and welfare professionals with clients in search of help. Kara Connect enables professionals to save sensitive personal information, book appointments, receive payments, send reminders and have secure teleconferencing meetings with those who seek their support.
“During the epidemic, people’s needs and attitudes towards access to all kinds of services changed, but especially increased access to the health and welfare system became a very urgent and urgent need. Kara is first and foremost an accessibility solution, a secure portal that connects people, which means that it is the perfect answer to this need. Treatment, support, advice and more, this is all within Kara’s reach.
In return, Kara automatically takes care of all kinds of administrative matters for the specialists so that they can focus on doing the most important part of the work much more accessible, and we are excited to have Iðunn at the table, because the fund has extensive experience in the health and biotechnology sector. ” says Þorbjörg Helga Vigfúsdóttir, CEO of Kara Connect.
Pétur Richter, Iðunn’s investment manager, will take a seat on Kara’s board following the financing.
“Kara Connect is a company that fits well with Iðunn’s investment policy, but the company has demonstrated the need for such a digital platform that the company has developed. The focus is now on further conquests in foreign markets. We are excited to take part in that journey with Kara’s staff and other shareholders. ” says Pétur Richter at Iðunn Enterprise Fund.
Iðunn enterprise fund slhf. is a specialized enterprise fund that focuses on investments in the field of life sciences and health technology. The fund is ISK 7.3 billion in size. Iðunn’s investment period is 5 years and the fund focuses on investments in companies with sound business development plans and management capabilities to manage growth and prepare the companies for the next phase of upscaling.
Kara Connect is Iðunn’s third investment, having previously invested in the generic drug manufacturer Coripharma and the drug development company EpiEndo Pharmaceuticals.
Kara Connect was founded in 2015 by Þorbjörg Helga Vigfúsdóttir, a former city representative and study psychologist, and Hilmar Geir Eiðsson, a software specialist.