Tada Group AB Successfully Closes Investment Round in Challenging Market of 2022
STOCKHOLM, Jan. 19, 2023 /PRNewswire/ -- Tada Group AB is proud to announce the successful closing of its latest investment round which was concluded despite the challenging market conditions of 2022. The company raised more than 10 million SEK from angel and institutional investors which will be used to increase production capacity as well as initial commercialisation.
"Despite the difficulties of raising capital under these tough market conditions, we were able to secure the funding we need to continue growing and innovating ReLink." said Katarina Hedbeck, CEO of Tada Group.
The company's product ReLink has gained recognition for its disruptive solution to IV catheter failures. The current global failure rate for IV catheters is 40%. The introduction of the ReLink safety connector will reduce unnecessary healthcare consumption and save millions of nursing hours. This amazing market potential, along with a strong financial foundation and clear vision for the future, helped attract investors' attention.
"Raising money in 2022 was a challenging task, but it has also been a valuable learning experience," said Katarina Hedbeck. "It has reminded us of the importance of strong financials, a solid business plan, and a clear vision for the future. It has also reinforced our belief that there are always investors looking for promising opportunities, even in difficult market conditions. And it is an obvious testament to the strength of our team and the potential of our product. We are grateful for all the support of the community around us. As always, it is together that we succeed."
"This bridge round is just the beginning of our fundraising journey, we are planning to raise a series A in the next year. We are grateful for the help from Apollonian and we invite investors and institutions to keep in touch with us for updates through our investment relation information list" said Katarina Hedbeck.
To stay informed about Tada Group AB's fundraising journey and future investment opportunities, please contact CEO Katarina Hedbeck or Andreas Dahlen and Thomas Nordén at Apollonia.
About Tada Group
Tada Group AB is a Swedish medical device company specialising in needs-based innovations for health and medical care. Our vision is to improve lives by providing innovative solutions for unmet healthcare needs. IV therapy is the most frequent invasive procedure in modern healthcare, being received by 90% of in-hospital patients. Unfortunately, 40% of these procedures will be prematurely interrupted by mechanical complications like phlebitis, infiltration, and accidental dislodgement where the IV catheter is forcefully ripped from the patient's vein. This results in patient injury, spilled medication, air embolisms and increased workload for the healthcare professionals. It also increases the healthcare professional's risk of exposure to potentially contaminated blood and hazardous drugs. When the problem is that something breaks the standard solution is to make it stronger, we did the opposite - we made it weaker. Our solution to the global healthcare problem of accidental IV dislodgement is our breakaway connector ReLink. ReLink is specially engineered to enhance infusion stability by keeping the connections between patient and IV catheter, with a controlled break away and predictable results, thereby providing increased safety for patients and nurses across the globe.
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