Finnish digital health company Kaiku Health Oy, which provides intelligent patient monitoring software for healthcare providers across Europe, has closed a €4.4 million funding round. The investment was led by Debiopharm Innovation Fund SA and Tesi with participation from Prodeko Ventures Oy and existing investors Reaktor Ventures Oy, Metsola Ventures Oy, and Athensmed Oy.
Kaiku Health will use the funding to power its international expansion and further develop its digital therapeutics pipeline. Together with its partners, Kaiku Health will conduct several clinical trials validating the digital therapeutics offering.
Kaiku Health offers intelligent patient monitoring software for healthcare providers. Structured capture and analysis of patient-reported data enables clinicians to evaluate the effectiveness of therapies and to detect and treat health problems early. Kaiku Health platform is used in routine care by over 30 clinics in Switzerland, Germany, Italy, Sweden, and Finland, and has been used by 64,000 patients (March 2018).
“We have seen the significant positive impact our patient monitoring platform can have on people’s health”, comments Lauri Sippola, Kaiku Health CEO and Co-Founder. “This funding allows us to provide our platform to a growing number of healthcare providers and patients internationally. It is important that our investors also bring an extraordinary understanding of healthcare, life sciences and digitalization.”
“We are excited about the impact digital technologies will have on the patient journey and are particularly enthusiastic to help take the digital therapeutic approach in oncology out of the lab and onto the market where the benefits of this high frequency monitoring can be expected to bring real outcomes improvement”, says Tanja Dowe, CEO at Debiopharm Innovation Fund.
“We have studied the Finnish digital health sector thoroughly and found it extremely interesting from an investor’s point of view”, adds Joni Karsikas, Investment Manager at Tesi. “The Kaiku Health team impressed us with its strong technological know-how, for instance in the use of artificial intelligence. Kaiku Health has strong international customer references and a broad user-base for a young health-tech company.”
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About Kaiku Health
Kaiku Health (previously Netmedi Oy) is a digital health company aiming to improve quality of life and reduce costs of healthcare through data science. We are digitizing the patient monitoring and easing the adoption of Patient-Reported Outcomes in several therapy areas. Our pioneering patient monitoring platform is used in routine care by over 30 clinics in Europe.
Founded in 2012, Kaiku Health has raised over 6 million euros in total funding. Kaiku Health’s revenue in 2017 was approximately €0,7 million. We are headquartered in Helsinki, but our people also harbor in Frankfurt and Stockholm. For more information, please visit www.kaikuhealth.com and connect with us at Twitter @KaikuHealth.
About Debiopharm Innovation Fund SA
Part of Debiopharm Group™ – a Swiss-headquartered global biopharmaceutical group including five companies active in the life science areas of drug development, GMP manufacturing of proprietary drugs, diagnostic tools and investment management – Debiopharm Innovation Fund’s mission is to invest in companies developing innovative therapeutics, diagnostics and smart data solutions that change the way we develop drugs and treat patients. Since 2008, the company has invested nearly USD 100 million and led 10 out of the 14 last investment rounds in its portfolio companies.
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi/ @TesiFII