Kaia Health receives €65 million in its Series C funding round, bringing its total funding to €110 million. Kaia will use the new funding to improve the treatment of chronic pain and lung diseases with digital products. This will enable broader access to effective therapies for a wide range of people. Kaia Health multimodal therapy approaches such as physiotherapy exercises.
Patients can perform the exercises independently and autonomously at home using their own mobile device. Camera-based, patented computer vision technology guides users through the exercises in real time and provides feedback for improved performance. Kaia's technology for reviewing movement therapy exercises is the only technology used in digital rehabilitation to date to have been validated by externally reviewed studies.
Kaia announces growth of 600 percent
The financing round was led by an undisclosed growth fund. Existing investors Optum Ventures, IdInvest, 3VC, Balderton Capital, Heartcore Capital, A Round Capital, and Symphony Ventures, the VC firm of US professional golfer Rory McIlroy, remain on board.
The Munich-based healthcare startup recorded 600 percent growth in the last 12 months. This was also reflected in the limited access to in-person therapies caused by COVID-19, which led to a sharp increase in demand for digital therapies. Based on funding and clinical validation, the startup claims to be the global market leader for digital therapies for back pain, osteoarthritis, and chronic obstructive pulmonary disease (COPD).
“Kaia combines world-class clinical research with innovative product development and computer vision, providing a validated solution for patients with musculoskeletal pain conditions and COPD,”
says David Boutellier, Head of Europe at Kaia Health.
Further plans of the health startup
The Munich-based company plans to make its back pain and COPD products available to all German policyholders this year under the Digital Health Care Act (DVG). The new funds will also be used to expand its range of therapies. Furthermore, the offerings will be integrated into national healthcare systems in other European countries. In addition to the European team, the company's headquarters in New York will be expanded, medical and technical product development will be accelerated, and partnerships will be further developed. Furthermore, Kaia aims to further advance its pioneering position in innovative applications in the healthcare market, particularly in the field of computer vision.
David Boutellier further explains:
“Through our continuous investment in the product, in our medical evidence, but also in data protection and quality management, we will soon be able to make Kaia available to even more patients in Europe – without patients having to contribute to the costs.”
