Lifesum a Swedish start up company has announced that it has raised $10 million. The main contributor being none other than Nokia Corp (ADR)(NYSE:NOK) Nokia Growth Partners. The money will be used in hiring new employees and also develop new products for European and American markets.
Lifesum is known for its health app that is currently being used by 15 million people around the world to live healthy lives. The digital health company started out in 2013 with its headquarters in Stockholm. Nokia Growth Partners is a private company that is funded by Nokia and has funding of over $1 billion under its management.
Other companies that also supported Lifesum are Draper Esprit PLC (LON:GROW) , Sparklabs Global Ventures and Baur Media Group. This was the first time after going public that Draper Espirit made an investment. The Irish company which is also supported by its government pumped in a solid €3.7million into the start up. They had initially planned for an IPO but the idea was putt aside due to not being sure about the markets. They have also invested in chipmaker firm, Moidius and a healthy snacks firm by the name Graze. For the last decade, Draper Espirit has been helping companies all over the world that deal with enterprise, digital health and other consumer goods.
Henrik Torstensson said that having the kind of new partners they have will help them develop a great product considering they have the leading investors in tech and digital healthcare.
Lifesum aims to help individuals make better health choices and be consistent in doing so. It seems that the investors who have funded Lifesum have made a wise and profitable decision. According to reports by PricewaterhouseCoopers, healthcare is one of the leading trends this year in the mobile sector. More and more people are adopting the use of mobile health apps.