Munich-based healthcare startup Kaia Health raises $8 million in funding. The financing round, led by Optum Ventures, was became known a few weeks ago. Details are now available.
Kaia Health, a digital therapy company, has raised $8 million in funding. This is already the second investment in 2019 In January, the Munich-based startup, led by London-based investor Balderton Capital, had already raised €9 million. The current financing from American venture capital firm Optum Ventures is also intended to drive Kaia Health's growth in the US. At the same time, the startup aims to further develop its portfolio.
Kaia Health has a digital therapy for back pain developedThe app aims to create cost-effective, innovative, and scalable solutions for patients with chronic diseases. Kaia Health's innovative 2D motion tracking technology also provides users with real-time feedback on correct exercise execution. The Munich-based startup's offering has already been tested in three clinical studies.
The Kaia Health investment aims to expand services for patients with chronic diseases
The Munich-based startup is now working on developing further services for patients with chronic diseases. Konstantin Mehl, Founder and CEO of Kaia Health, explains:
“With Optum Ventures’ investment, we are able to explore further ways to integrate Kaia into a patient’s entire care journey.”
Optum Ventures' investment is intended to expand the offering to other chronic diseases and expand the evidence base. At the same time, it aims to increase revenue growth in the US healthcare market. The technology-supported approach to developing digital therapies is convincing to the American investor. Heather Roxborough, Partner at Optum Ventures, says:
“We believe that Kaia Health’s digital therapy solutions will benefit those suffering from chronic pain and are excited about further applications for other conditions.”
