Swedish health tech company H100 Group AB has secured 21 million Swedish krona (approximately $2.2 million) in a strategic funding round led by Blockstream CEO and Bitcoin pioneer Adam Back.
The capital raise, structured through zero-interest convertible loans, is earmarked entirely for the company’s Bitcoin treasury initiative.
The investment follows H100’s bold announcement on May 22 that it would begin acquiring Bitcoin as part of a new treasury strategy. Back, a prominent figure in the Bitcoin space and one of its earliest advocates, personally contributed around $1.4 million. The remaining $800,000 came from Nordic investment players, including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.
21,000,000 SEK has been raised in a convertible round led by the legendary @adam3us 🍊
Accelerating our Bitcoin treasury strategy and strengthening our focus on sovereign health — let’s build! pic.twitter.com/SrpbKM2TID
— H100 (@H100Group) May 25, 2025
H100, which specializes in personal health solutions outside the traditional reactive healthcare model, plans to use the funds to acquire an estimated 20.18 BTC at current market prices, adding to the 4.39 BTC it bought on May 22. This would bring its total holdings to approximately 24.57 BTC.
Under the loan terms, which matures on June 15, 2028, investors can convert their stake into equity at any point at a fixed rate of 1.3 SEK (approximately 11 cents) per share. If H100’s stock maintains an average trading price exceeding 33% above the conversion rate for 60 trading days, the company may trigger a mandatory conversion into shares. A full conversion would introduce about 16.15 million new shares, diluting existing ownership by roughly 12%.
Investor excitement has already been reflected in the market. H100 shares surged by 37% on the day it announced its Bitcoin strategy and climbed another 5.33% the following trading day, reaching 1.29 SEK (around 14 US cents), according to Bloomberg.
CEO Sander Andersen explained the rationale behind the pivot, stating that the values of the Bitcoin community, particularly around individual sovereignty, align with the mission of H100, which aims to empower individuals to manage their health outside of mainstream healthcare systems.
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