# Popit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/popit

- Industry: Medical Devices & Equipment
- Headquarters: Espoo, Finland
- Website: www.popit.io
- Total disclosed funding: $1.4M
- Latest round: Seed (Aug 23, 2017)
- Investors on record: 3

## About

Popit Ltd. offers innovative medication management solutions designed to enhance adherence through user-friendly technology, specifically a smart pill tracking app that supports both individual users and caregivers in monitoring medication schedules.Founded in 2015, Popit Ltd. is an Espoo, Finland-based company that specializes in medication management solutions. The company was co-founded by Mikko Törmä, Teemu Piirainen, and Timo Heikkilä, who currently serves as CEO. In August 2018, Popit raised EUR 1.2 million in Seed funding from investors including Amor & Labor Oy, Butterfly Ventures, and the Finnish Funding Agency for Technology and Innovation. This funding round represents the total amount raised by the company, which has completed one deal to date.Popit Ltd. specializes in a medication management solution aimed at optimizing medication adherence for users. Their primary offering is the Popit smart pill tracking solution, developed in collaboration with healthcare professionals, which transcends traditional pill reminder apps. The product simplifies the process of tracking medication intake through a user-friendly smartphone application that enables users to monitor their medication schedules and review their adherence history via a calendar view. The end-users range from individual consumers managing their health to caregivers ensuring their loved ones adhere to prescribed regimens. Popit is particularly relevant in markets across North America, Europe, and Asia, addressing a significant challenge highlighted by the World Health Organization, which states that about 50% of patients miss their medication doses.Popit Ltd. generates revenue through a subscription-based model for its medication management solution. In the most recent year, revenue amounted to EUR 228,480. The firm reported an EBITDA of EUR -94,182. Clients typically include individual consumers who subscribe to the service for a monthly or annual fee, accessing the app’s full features, including tracking, reminders, and comprehensive medication history. Additionally, the company may engage in partnerships with healthcare providers and institutions that utilize their product to enhance patient adherence, creating a direct-to-consumer channel as well as a B2B framework. While specific pricing details for the subscriptions are not disclosed, the firm's flagship product, the Popit Adherence Kit, forms a central part of its revenue-generating strategy, enhancing users' ability to manage their medication effectively.Popit Ltd. aims to expand its product offerings and enhance its market presence. Following its Seed funding round in August 2018, the company intends to utilize the raised EUR 1.2 million to further develop its medication management solutions. Future products are anticipated to include new features and tools aimed at improving user engagement and adherence metrics. Additionally, Popit plans to target expansion into new geographic markets, focusing on regions across Europe and North America by the end of 2023, to reach a broader customer base and address the medication adherence challenges highlighted by health authorities.

## Funding rounds

- Seed, Aug 23, 2017, $1.4M — Finnish Funding Agency for Technology and Innovation, Butterfly Ventures, Amor & Labor Oy

## Investors

- Finnish Funding Agency for Technology and Innovation — Seed
- Butterfly Ventures (https://capitalatlas.ai/funds/butterfly-ventures) — Seed
- Amor & Labor Oy — Seed