Finnish biotech company StemSight, which develops stem cell therapies for vision restoration, has raised €2.3 million in funding from Voima Ventures, Finnish family offices Stephen Industries Inc. & Biothom Oy, private investors, and Business Finland. StemSight shared the announcement with AIN.
About StemSight
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Founded by Laura Koivusalo, Anni Mörö, Tanja Ilmarinen and Heli Skottman, StemSight develops advanced stem cell therapies to restore vision in patients with severe corneal blindness.
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At its core, StemSight leverages Nobel Prize-winning iPS cell technology to manufacture corneal cells in a scalable, cost-effective manner. Unlike traditional donor-dependent solutions, StemSight’s readily available, off-the-shelf therapy provides a scalable, consistent, and accessible alternative.
“StemSight’s innovative approach to regenerative medicine stands out for us in the biotech space. By addressing severe corneal blindness through the use of emerging stem cell therapies, they are bringing hope to patients who have no existing treatment options. StemSight’s work on LSCD is just the start—this technology has the potential to transform vision care globally,” says Stina Wallmark, Life Sciences Investment Director at Voima Ventures.
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In the future, the company aims to expand its pipeline to address additional ocular diseases, further broadening its impact on vision restoration.
Investment details
The round was backed by Voima Ventures, Business Finland, Finnish family offices Stephen Industries Inc. & Biothom Oy, and undisclosed private investors.
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Voima Ventures invests in seed to early-stage companies in biotechnology, software, and AI industries, focusing on science and engineering, biotechnology, and healthcare sectors, primarily in Finland.
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In December 2024 Voima Ventures closed its €100 million deep tech-focused Fund III.
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Business Finland is the Finnish government organization for innovation funding and trade, travel and investment promotion.
The funding will enable key preclinical studies, R&D expansion, and manufacturing pilots, advancing StemSight toward clinical trials and bringing new hope to patients with incurable corneal blindness.
