Umecrine Cognition AB announced that it has received SEK 30.4 million in a round of funding on November 17, 2023. The transaction included participation from returning investor Karolinska Development AB (publ), new investors include Ribbskottet AB, Ab Ility Ab, and and other current long-term shareholders. The company has raised money through convertible loan with attached share options.

Karolinska Development AB (publ) holds 73% in the company. Upon full exercise of the share options attached to the convertible loan, as well as two earlier convertible loans with similar terms, Karolinska Developments' shareholding will decrease to 62%, if full conversion takes place, including that the options are redeemed. The dilutive effect of the transaction will result in a negative earnings effect of SEK 12 million for Karolinska Development in the fourth quarter of 2023.