Innovation, Startups and Venture Capital in Iceland

Florealis launches fundraising campaign through Funderbeam

Today, Florealis, an Icelandic herbal medicine company, launched an equity fundraising campaign on Funderbeam. The funding will be used to support the company’s growth in Sweden and to launch the company’s products into more markets. 

Florealis has previously raised several rounds of funding, the most recent a $3.8m funding round from the New Business Venture Fund. At the time of writing, the company has raised 99% of the amount the 500,000 they’re asking for

“People today are more conscious about maintaining good health and wellbeing than they used to. Along with this development, herbal medicine has become more popular, but many people prefer them over anti-biotics, addictive sleep medicine, or medicine with side effects,” says Kolbrún Hrafnkelsdóttir, CEO and founder of Florealis in a statement. 

Florealis aims to bridge the gap between pharmaceuticals and herbal products. It was founded in 2013, and has in the last two years launched nine products. These medicines are all registered in the Nordic countries and are based on clinical research. The company’s products can be found in around 600 pharmacies in Iceland and Sweden. 

“We look back to our origins where nature was used as a cure but improve on it with modern technology and knowledge. We find it important to have years of knowledge and experience in drug development. Today the only recognized herbal medicine you can get in Iceland is from Florealis. Following the fundraise, we plan to grow even more in foreign markets,” states Kolbrún. 

 More info can be found on Florealis’ Funderbeam page.

Sign up for The Northstack Memo, our newsletter covering the Icelandic startup, innovation and venture capital environment.

%d bloggers like this: