Monocl Software awarded 2.7 MSEK from Sweden's Agency innovation agency Vinnova
GÖTEBORG, SWEDEN, November 25, 2014. Monocl Software, a Life Science Intelligence company, has been awarded 2.7 MSEK through VINNOVA's 'Forska&Väx' program. The funding will be used to enable a successful launch of MONOCL EGO in 2015. MONOCL EGO is a groundbreaking expert analytics tool designed to help professional users to find, assess and engage with relevant Life Science experts and key opinion leaders to drive business success.
Monocl Software was awarded funding from VINNOVA in fierce competition with hundreds of other innovative Swedish companies. Monocl Software was awarded financing in the Digital Health category. The excellent commercial outlook and the great potential impact of the funding provided, were two major factors in VINNOVA's decision. The company has now been awarded over 5 MSEK in soft financing through VINNOVA, ALMI, Tillväxtverket and other public entities.
"This not only demonstrates the excellent market potential of our first analytics tool, but also the highly disruptive nature of our software platform. In an era of information overload, it will be increasingly important to understand the relationships and the knowledge of specific experts in Life Science. We strongly believe that our unique user- driven approach will enable us to address these highly important and challenging needs. The timing of the news is also excellent in light of our investment round in Q1 2015" stated Monocl Software's CEO Björn Carlsson.
About Monocl Software
Monocl Software provides intuitive analytics to Life Science professionals, enabling key insights and smarter strategic decisions. We develop tools based on our Life Science Intelligence platform to address challenging business questions and to increase the competitiveness of our customers. Our first analytics tool, MONOCL EGO, is carefully designed to enable users to find, assess and successfully engage with relevant Life Science experts and key opinion leaders to drive business success. Monocl Software is part of the Monocl group, a Life Science strategy consulting and intelligence analytics group improving decision-making for executives and professionals.
VINNOVA is Sweden's innovation agency with a total annual investment exceeding 2.7 billion SEK. VINNOVA promote sustainable growth by improving the conditions for innovation and by funding needs-driven research. VINNOVA promotes collaborations between companies, universities, research institutes and the public sector. This is done by stimulating a greater use of research, by making long-term investment in strong research and innovation environments and by developing catalytic meeting places. The agency's activities also focus on strengthening international cooperation.