Longenesis won .Cocoon Ventures investment award of 100 000 € at sTARTUp Day on August 26, 2022, in Tartu. They were chosen out of a record number of 380 applicants from 47 countries. Longenesis helps healthcare and life sciences companies make better use of their data, accelerate research and engage patients.
Sergey Jakimov, the CEO of Longenesis, said they are very interested in working with .Cocoon Ventures for its entrepreneurial experience in growing and scaling businesses, as well as great exposure to the regional business angel and VC network.
"Their team is well-aligned with the values of .Cocoon Ventures, such as willingness to learn, growth mindset and diligence. Additionally, they are just in the right phase where we can contribute most to their future growth," said Aleksander Tõnnisson, the Founding Partner of .Cocoon Ventures.
The sTARTUp Pitching competition award includes the cost for the founders' team to join .Cocoon Program for one year and monetary investment. .Cocoon Program supports founders to speed up their personal growth and, through that, their company growth. It consists of mentoring, Training Days events and Masterclasses.
.Cocoon Ventures' investment will be a part of the Longenesis series A fundraising round. "We are looking to deploy capital in reinforcing sales and business development resources working with industry, as well as growing the development and customer satisfaction resource," said CEO Jakimov about their future plans.
sTARTUp Day is the biggest business festival in Baltics, and it took place for the 6th time in Tartu. The next sTARTUp Day will be on March 15-17 in, 2023.