The digital medicinal supplier of dietary and lifestyle coaching, Oviva, has announced that in Series C, it has raised €67 million (€80 million) to increase digital treatment for diabetes throughout Europe.
Together with existing investors like Sofina, several angel investors, AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and Temasek, co-led the round.
Why does it matter?
In Europe, more than 300 million people face dietary challenges or are optimized by personalized nutritional changes.
Digital care is offered to only a tiny fraction of the 300 million.
The scaleup will use the financing raised to continue reaching millions of digital diets and lifestyles users and further consolidating their position in the United Kingdom, Germany, Switzerland, and France.
By expanding the company’s technology to 800 employees by the end of 2022, it will also make it more accessible to a broader range of people.
Aviva aims to empower people to change their dietary practices, improve their health over the long term and improve their well-being.
In this way, Oviva combines individual coaching with an intuitive application and recruiting certified dietitians, which guarantees that health and insurance systems cover costs.
The new round of financing brings the total of €97 million ($115 million) raised by the company and contributes to developing its partnerships with healthcare systems, insurers, doctors and operations in Europe.
THE GRAND CONTEXT
Last year, to implement digital diabetes treatment in Europe, the Swiss company raised EUR 30.5 million.
Swiss healthcare investor MTIP headed the round, joined as new investors by Earlybird. All participants included existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech.
“The development of people throughout all functionalities in the next few months will be the key focus of Kai Eberhardt, CEO and co-founder of Oviva.
On the one hand, we want to make it easier for existing staff to assume more responsibility.
We are, however, looking for new talents in order to support the improvement of our health and well-being for our existing and new patients.”
“We see great potential in Oviva,” said Harold Boël, CEO of Sofina.
Its solution is an example of how digital solutions can tackle significant health care and social problems such as diabetes, which our team in the health sector strongly believes to be the topic.