After Kranus Health completed its Series A round in June 2022 with 6.1 million euros (6.5 million dollars), a first increase to 14.3 million euros (15 million dollars) followed in autumn last year. Now the Munich healthtech company has been able to increase its funding to a total of 18.4 million euros (20 million dollars).
The new capital increase of 4.6 million euros (5 million dollars) was led by French VCs Caphorn and Future Positive Capital. The investment from France is no coincidence: in July 2023, Kranus Health entered the French market.
The additional capital is flowing into further expansion in Europe and the USA and the expansion of urological therapy offerings. The company recently expanded its treatment spectrum to include treatment of BPH (benign prostate enlargement) and incontinence in women. The startup is also developing virtual therapy for prostate cancer.
“This funding round is another major success for us. The reason for the strong market interest is our rapid growth last year and the promising prospects of opening up new international markets. I am very pleased about the collaboration with Caphorn and Future Positive Capital, two France-based VC funds with global ambitions, which further diversify our investor community,”
says Jens Nörtershäuser, founder and co-CEO of Kranus Health.
Kranus Health focuses on direct sales
“A cornerstone of our strategy has been a strong focus on sales through doctors and the establishment of our own sales team from day one. Our goal is to further expand our field sales force, increase our engagement with private practice physicians, and thereby expand our reach,”
explains Thilo Kleinschmidt, co-founder and co-CEO.
In doing so, the startup focuses on urology specialists to make them aware of digital therapy options in the field of urology. For outreach to general practitioners, there is a sales partnership with German pharmaceutical company Pohl-Boskamp.
Currently, Kranus Health works with over 1,000 prescribing urologists, through which over 10,000 patients have been treated. This number is expected to triple in 2024.
