Two exciting startup companies in eHealth from southern Sweden are now joining forces as Neki Sweden acquires POOW Application. The companies, which met at SmiLe Incubator, have chosen to merge their operations, which is expected to provide significant synergies for both companies’ products and will complement the skills of the Neki team.
SmiLe’s incubator company POOW Application developed the POOW Food Hero app, an eHealth product with gaming features intended for use by young children who have eating problems. The app uses a smartphone or tablet camera to create a virtual environment, where food from the plate charges a superhero’s powerpack, which can be used in various “adventures.” The child is motivated to eat or to try new foods using a playful and interactive approach. The app has currently been downloaded more than 3,500 times from the Apple App Store and Google Play.
Neki Sverige offers elderly- and dementia care solutions. The company’s first products are wearable GPS tracking devices for people who have problems with orientation and are therefore at risk of getting lost. The company sells the product to private individuals and caregivers, with about 150 to 200 devices in daily use in Sweden at this time. Neki is also developing the Hans platform, which provides a simple interface on a single platform for various products used in elderly care.
Both companies participated in SmiLe’s Health2B intensive program for early entrepreneurs, after which they continued and became SmiLe Incubator members, from which Neki graduated last year.
“We are extremely pleased about expanding to this adjacent product area that helps families in challenging situations, just as our own solutions do. We also look forward to working with the POOW team to develop their new products for both children and elderly individuals. The acquisition is in line with Neki’s future plans, which include acquiring even more products and companies in order to find synergies between projects that can solve various challenges in society,” says Philip Fransson, CEO of Neki Sweden.
“The deal is perfect for us right now when we need commercialization experience regarding selling Food Hero to consumers and to other companies and organizations. We are also extremely pleased about the interest Neki Sverige has shown in our new product development pipeline,” says Kristian Enkvist, CEO of POOW Application.
“Now that the commercial version of Food Hero has been launched and well received on the market, I really look forward to participating in the development of exciting new concepts for helping children and elderly individuals in their daily lives,” says Björn Cronzell, founder and creative director of POOW Application.
“We’re thrilled that two startup companies in our community have found that they are stronger together in their continued development by joining their exciting concepts into a broader product portfolio. Like so many other SmiLe companies, they have leveraged the advantage of being part of a large business community,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund. SmiLe helps entrepreneurs to commercialize their ideas. There are currently 25 companies in SmiLe, which together with alumni companies, have attracted more than EUR 380 million in venture capital to date since 2014. SmiLe offers business coaching, a large network of contacts and a dynamic community, as well as well-equipped laboratories which is unique of its kind in Sweden. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Awa, Høiberg, Prevas, Setterwalls, Zacco, Aqilion. SmiLe’s listed alumni companies have a market capitalization of EUR 1,28 billion (Q3 2020). www.smileincubator.life