Sooma Medical successfully raised €319,000 in a capital campaign to expand its innovative non-invasive depression treatment device, leveraging support from Italian Angels for Growth.

Target Information

Sooma Medical is a Finnish company specializing in the development and commercialization of a patented and CE-certified device designed for the treatment of depression and chronic pain. Utilizing transcranial direct current stimulation (tDCS), this solution is both low-risk and cost-effective. The device has received regulatory approval in 35 countries, further strengthened by four existing patents, with additional patents currently in the validation process.

Recently, Sooma launched a capital raising campaign in collaboration with business angels from Italian Angels for Growth (IAG), who have previously invested in the company in 2019. The campaign concluded on August 18, raising a total of €319,000 through the Doorway platform, an innovative Italian fintech venture that facilitates direct investments by private and corporate investors in this asset class.

Industry Overview

The depression treatment market is substantial, with over 300 million patients globally, and spending by these patients reaches approximately €5.7 billion annually in the United States alone. The pre