Oviva, the digital well being scaleup which offers food plan and way of life teaching has introduced that it has raised €67 million ($80m) in Sequence C funding to increase its digital diabetes therapy throughout Europe.
The spherical was co-led by Sofina and Temasek, alongside current buyers AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and a number of other angel buyers.
WHY IT MATTERS
In Europe, greater than 300 million folks dwell with well being challenges which are attributable to food plan or will be optimised by means of personalised dietary adjustments. Solely a small fraction of the 300 million are supplied digital care.
The scaleup will use the funding raised to proceed to develop its attain to the tens of millions who can use digital food plan and way of life therapy, and additional set up its place within the UK, Germany, Switzerland and France.
The corporate additionally plans to scale its expertise and make it extra accessible to a wider vary of individuals by rising its staff to 800 staff by the top of 2022.
Oviva goals to empower folks to vary their diet-related habits, bettering their long-term well being and enhancing their wellbeing. Oviva does this by combining particular person teaching with an intuitive app and hiring licensed dietitians, which ensures that prices are lined by the well being techniques and insurers.
This new funding spherical brings the whole quantity raised by the corporate to €97 million ($115m) and helps construct on its partnerships with well being techniques, insurers, medical doctors and operations throughout Europe.
THE LARGER CONTEXT
Final 12 months, the Swiss agency raised €30.5 million to roll out digital diabetes therapy in Europe. The spherical was led by Swiss healthtech investor MTIP, joined by Earlybird as new buyers. Current buyers AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech all participated.
ON THE RECORD
Kai Eberhardt, CEO and co-founder of Oviva, stated: “Folks progress throughout all capabilities might be a key focus over the subsequent few months. On the one hand, we’re eager to allow current staff to take over extra accountability. And, alternatively, we’re trying to find new expertise to hitch us on our journey to assist our current and new sufferers obtain higher well being and well-being.”
Harold Boël, CEO of Sofina, stated: “We see nice potential in Oviva. Its resolution is an instance of how main healthcare and societal points like diabetes will be addressed by the applying of digital options, which is a subject our healthcare sector staff has a powerful conviction for. Oviva has already made huge steps in the fitting route lately and we consider that this was just the start.” Deal with Innovation