Marketing content

Why investment in Koite Health

Lumoral® is a revolutionary treatment and solution to a major global health problem with bacteria-based oral illnesses

Scientifically proven and patent protected

Since the launch, more than 40,000 Lumorals have been sold with more than 100,000 monthly treatments

Now entering European dental markets together with high-quality local distribution partners

The company's turnover is growing strongly and will exceed €3 million this year, and there is plenty of growth potential in the €31 billion global home dental care market

Sakari Nikinmaa, CEO

“Koite Health was founded to respond to the growing need for new treatment solutions against bacteria-based dental illnesses. In the EU, 51% of adults suffer from various bacteria-based oral diseases and worldwide they impact more than one billion people.  

We launched Lumoral in 2020 and it is the first antibacterial photodynamic treatment for home use.  Three years later, Lumoral has more than 40,000 users and more than 100,000 treatments per month.  

Last year, Lumoral experienced rapid growth in Germany and Sweden while expanding into new markets in Spain, Poland, and Portugal. Additionally, continued development focused on entering the North American markets, including the USA and Canada.

We are now raising growth capital to support the international rollout of Lumoral and to support the continuing research and clinical studies for new treatment areas with the Lumoral technology.” 

Sakari Nikinmaa, CEO, Co-Founder, Board Member

Investment information

Days to invest:
8
Investing round ends:
28/02/2025
Type:
Equity offering
Invested so far:
€925,198.00
Equity offered:
2.02 – 7.86 %
Price per share:
€46.00
min investment 10 shares
Transaction costs:
1.50 %
Number of existing shares:
518,805
Fully diluted shares:
565,867
Pre-money valuation:
€24,265,690.00
Maximum issue size:
€2,070,000
Offered units:
45,000
Broker:
Oneplanetcrowd International B.V
License:
ECSPR

Overview

Company profile

Koite Health was established in 2018 in Espoo, Finland and is a fast growing medical technology company.

The company was founded to respond to the growing need for new treatment solutions against dental bacterial infections.

PROBLEM: 95% of oral diseases are caused by harmful bacteria in dental plaque, a sticky film of bacteria that constantly forms on teeth. Unfortunately, daily brushing and flossing only remove about 50-65 % of dental plaque, which results in 80% of adults suffering from some level of gum disease at some point in their lives. The total cost to society is estimated at $470 billion annually.

SOLUTION: Koite Health has developed and commercially launched Lumoral, which kills 99.99% of the harmful bacteria in the mouth.  The entire Lumoral treatment process can be done at home and takes less than 15 minutes.

Since the market entry in 2020, more than 40,000 Lumorals have been sold and Koite Health has achieved over 1270% annual sales growth since then. The technology is patented and is based on strong scientific evidence and support.

Koite Health is now growing globally in the €31 billion home dental care market and is rapidly growing in European markets with new distribution agreements made in Spain, Poland and Portugal.

Company info

Company name: Koite Health Oy
CEO: Sakari Nikinmaa
Business ID number: 2918895-9
Founding Year: 2018
Address: Karaportti 5
02610 Espoo
Finland
Industry: Health technology
Location: Espoo (Finland)
Website: koitehealth.com
Social Media:

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Products

Lumoral is a revolutionary dental treatment method that is easy to use and brings professional level antibacterial treatment to your own home.  

The Lumoral treatment consists of two parts: Lumorinse mouth rinse (1 minute), followed by Lumoral mouth applicator (10 minutes). The whole treament is completely painless and can be done at home in less than 15 minutes. Afterwards you should brush your teeth carefully. Recommended use is twice a week for preventive treatment and daily use for medical treatment, for the period recommeded by your dental professional.

Product

Lumoral is based on a patented combination of antibacterial blue light (aBL) and photodynamic therapy (aPDT).  In the process with aBL and aPDT, light activation causes the local release of heat and/or reactive oxygen, resulting in the inactivation of harmful bacteria. In aPDT an external photosensitizer and in the aBL bacteria internal molecules are activated.

Lumoral's dual-light method greatly enhances the antibacterial power of the treatment by providing bacteria external and internal antibacterial action simultaneously. The product is available through dentists, pharmacies and the lumoral.com webshop.

Lumoral has been registered as a medical device in the EU, UK and in Switzerland. 

Product

Business model

Business model

Business model

Koite Health focuses on product development and the production of clinical proof for new treatment areas for the Lumoral method. Koite also handles the marketing and distribution of Lumoral products in our home markets Finland and Sweden. Products are marketed and promoted through dental professionals and directly to consumers. 

LOCAL DISTRIBUTION PARTNERS 

Outside Finland and Sweden, Lumoral will be marketed and distributed by local distribution partners, which already have existing workforce and networks to distribute oral care products to dental professionals and consumers. These carefully selected partners sign exclusive agreements on their market(s) and bear all the costs for the launch and promotions. All manufacturing has been outsourced. 

NEW MARKETS START ALWAYS WITH PROFESSIONAL MARKETING 

At each new market, Lumoral is first marketed and promoted through dental professionals and the scientific community/key opinion leaders. At a later stage there will also be some level of consumer marketing and campaigns. 

INITIAL SALES AND RECURRING REVENUES 

Koite Health earns revenues on the sales of Lumoral start-packages and recurring revenues on the sale of Lumorinse tablets, needed in the treatment. More information about the business model and the recurring revenue can be found in the Information Memorandum, included in the Documents section. 

Market

Market

Total cost of bacteria-related dental diseases is estimated to be $544 billion, of which $356 billion is direct and $187 billion is indirect costs. Periodontitis costs $54 billion in direct treatment costs and an additional $25 billion in indirect costs.

There is nothing similar to Lumoral on the market. Lumoral treatment vastly outperforms all current methods in terms of treatment efficiency, usability and cost-effectiveness.   

  • 80% of adult population has prevalence of gingivitis.
  • 50% of over 30 year old adults have some form of periodontal disease.
  • >20 million dental implants placed per year and 20% of patients face some level of infection complications.
  • +1,000 million people suffer from severe gum disease (periodontitis).
  • > €8.4 billion addressable market for Lumoral in prevention and treatment of severe periodontal and peri-implant diseases.
  • €10 billion addressable: The market for Lumoral improvement of oral hygiene (electric toothbrush and mouthwash market).

  • No new solutions or innovations for oral hygiene and dental plaque control in the last 50 years.

Impact

The Sustainable Development Goals (SDGs or 'Global Goals') are part of the UN 2030 Agenda for Sustainable Development and constitute the international framework for sustainable development until 2030. These SDGs are intended to put an end to poverty, inequality, and climate change.

SDG 3

Koite Health aligns with UN Sustainable Development Goal 3: Good Health and Well-being by innovating light-activated medical solutions like Lumoral®, aimed at improving oral health and reducing reliance on antibiotics. Their focus on preventive care and sustainable practices contributes to enhancing global health and well-being.

Management

  

Tommi Pätilä, Chief Medical Officer

Tommi Pätilä

Chief Medical Officer, Co-Founder, Chairman of the Board

Tommi is a cardiac surgeon specialized in repairing the most difficult birth-defect malformed hearts and performing kidney, liver and heart transplantations in children. He has an outstanding scientific career. He has first-hand knowledge of systemic effects of mouth diseases, which was the early motivator when the development of Koite Dual-Light PDT originally began in the iDenta project at Aalto University. 

  

Sakari Nikinmaa, CEO

Sakari Nikinmaa

CEO, Co-Founder, Board Member

Sakari has done research in the fields of microfluidics, virology, and bacteriology at Aalto University in Finland and San Francisco in Raul Andino laboratory. He has successfully generated and commercialized new technology for Finland as an innovation fellow in the first Biodesign Finland -project, as Lead engineer in the successful TUTL-project, as the CEO of Koite Health Oy. Sakari is an inventor in 5 patent applications.

  

Timo Hildén, Senior Advisor

Timo Hildén

Senior Advisor, Board Member

Timo is a medical technology executive with experience ranging from the pharma industry to manufacturing and selling medical devices. Timo has an immense value growth track record in his 21 years as a VP/GM in Thermo Fisher Scientific and later in Revenio Group Oyj. In Timo, world-class medical industry know-how and connections combine into in-depth substance knowledge from the dental field as Timo also has a bachelor's degree in dentistry in addition to a Master's degree in business.

Company structure

Koite Health Oy is a single entity without subsidiaries owned directly by its shareholders.

Distribution of company shares

Shareholder

Shares

Ownership
1 Tommi Pätilä

103,062

 19.87 %
2 Osimo Pte Ltd 91,868  17.71 %
3 Sakari Nikinmaa 84,197  16.23 %
4 Apteekkien Eläkekassa  39,680  7.65 %
5 Acme Investments Spf Sarl 28,793  5.55 %
6 Jeremy Lee-Barber 21,301 4.11 %
7 Chris Lee-Barber 13,585  2.62 %
8 Valio Pension Fund 10,886  2.10 %
9 Hippocras Ky 9,484 1.83 %
10 8 Media Ventures Fund 8,710 1.68 %
11 Other shareholders (26) 87,517 16.87 %
12 Invesdor shareholders (446) 19,722 3.80 %
TOTAL 518,805  100 %

The largest shareholders include Co-founders Tommi Pätilä and Sakari Nikinmaa, as well as investors such as Pharmacy Pension Fund (Apteekkien Eläkekassa), Acme Investments Spf Sarl and Valio Pension Fund. Koite Health's ability to secure investments from key industry pension funds can be seen as a proof of of trust for the viability and potential to disrupt oral health care by the Lumoral. 

Developments at Koite Health since the last funding round

Since Koite Health’s successful funding round at the end of 2023, which raised over €4 million, the Finland-based health tech company has sustained significant revenue growth. Demonstrating this momentum, the company’s revenues in 2024 increased by an impressive 42% compared to the previous year.

Building on its innovative approach, Koite Health introduced a new Lumoral subscription model in Q4 2024, which has already proven successful in driving sales and reducing customer acquisition costs. Since December 15, the company also sold 24-month Lumoral subscription contracts totalling €20,000. With demand for its key products remaining high across major markets in 2024, Koite Health’s gross margin also improved steadily, reaching 56% at the end of the year, compared to 51% for the full year of 2023.

The adoption of Lumoral among dental professionals has surged, further establishing the product’s reputation as an effective and innovative treatment. In Finland and Sweden alone, sales of Lumoral through dental clinics increased by a remarkable 130% in 2024, totalling €150,000. Across the EU, sales through professional channels amounted to €400,000, with expectations for further growth in 2025 supported by findings from Koite Health’s ongoing science programs.

Sweden emerged as a standout market for Lumoral in 2024. Since its marketing launch in October 2023, sales in Sweden have surged by nearly 1,000%, with cumulative revenue exceeding €500,000. This exceptional growth underscores the product’s appeal and effectiveness in new markets.

Globally, over 40,000 Lumoral devices have been sold, and the total number of treatments performed has surpassed 1,000,000. This milestone highlights the growing recognition and trust in Lumoral as a cutting-edge solution for oral health.

Use of funds

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Maximum Scenario

(€2,070,000 collected in the financing round)

  • Larger amount of growth capital would allow a more aggressive European growth strategy and faster development of new treatments
  • Support and accelerate the clinical research pipeline for several new applications
  • Develop Lumoral subscription model, Lumoral mobile app 2.0 and Lumoral 2.0
  • Participate in all important global dental events
  • Continue the processes for US and Asian market partners  

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Minimum Scenario

(Minimum funding of €500,020 collected in the financing round)

  • Minimum amount would be used to support the current European expansion and the already started clinical studies
  • Invest in the Finnish & Swedish market B2B (dentists) and B2C (consumers) activities and promotion  
  • Support the German, Italian and UK market entries in 2025  
  • Finalize the upcoming market entries to France and many other markets

Financial figures & growth

Actual and planned figures

Get an insight into Koite Health's financial figures, such as turnover and earnings development. Learn more about the growth forecast.

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Valuation

Icon Money

Koite’s valuation (post-money) in the previous financing round in at the end of 2023 was €24 million. Since then the company has progressed significantly:

  • The revenue in 2024 increased by 42% compared to 2023
  • Koite’s gross margin reached 56% towards the end of 2024, compared to 51% in 2023
  • Sales in Sweden have grown by 1,000% to a cumulative €500,000 since the launch in the fall of 2023
  • Expanded into German market with revenue growth of over 300%
  • Clean EBITDA narrowed to -€755,000 in 2024 compared to -€961,000 in 2023
  • Koite introduced a subscription model in Q4, 2024 with contracts worth €20,000 sold already

Koite Health has a total of 59 patents and 15 clinical studies. In this round, we are looking for a pre-money valuation of €24,265,690.

Exit scenarios

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Trade sale: Large international medical technology and healthcare companies are constantly looking for new innovations and innovative companies, and within the medical technology sector this is probably the most common path for exits. There are several global billion dollar companies within dental sector, especially within the dental implant segment. Koite Health has already had discussions with some global companies about a possible cooperation and about including Lumoral in their product offerings.

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IPO: A possible listing on the Helsinki Stock Exchange when the company has reached a sufficient size and profitability (from 2026 onwards).

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Private equity/Venture funds: Another exit path and buyer candidate group could be the specialized dental sector investment funds. Within the dental segment, those investment companies are mostly located in the USA, and we have already had discussions with 3 of them. The main focus of the US-based investment funds is on the US dental markets and the funds and the progress of our US plans and especially the FDA application are a key factor.

Documents

Investment related documents

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Updates

Update 20.2.2025

To celebrate their return, Koite offers a 20% discount on Lumoral products in the webshop with the discount code INVESDOR20. The code is valid until the funding round closes. 

Notice:

In this update section you will find, among other things, answers to investor questions that reach us. The answers shown originate from the respective entrepreneur and are therefore marked accordingly. Invesdor does not undertake any separate verification of the information received after the start of the financing phase.

If you have any questions about the company, send them directly to us at service@invesdor.com.

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Ausgezeichnet als Top-
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