Contemplating the dimensions of the EU’s €3.7tn aged care market — and an ageing international inhabitants that can see the variety of folks over 80 triple by 2050 — it’s slightly shocking how lengthy it’s taken for the care tech sector to seize VC consideration.
However as buyers smart as much as the wealth of alternative in giving aged care a tech makeover, startups are starting to reap the rewards. We’re two thirds of the best way by means of 2022 and funding within the healthtech vertical has already topped the entire of final yr, a stat that’s all of the extra spectacular contemplating most sectors are feeling the pinch of the inventory market falloff.
Italy’s Florence, the UK’s Birdie and France’s Ouihelp have all raised tens of hundreds of thousands every lately, and earlier this month London-based Cera snapped up the sector’s largest ever spherical — a £260m increase break up evenly between debt and fairness.
In order curiosity hots up, who’re the rising stars that Europe’s VC group are retaining tabs on? Sifted spoke to 4 buyers to seek out out.
Listed below are the (non-portfolio) corporations they assume are destined for large issues.
Eckhardt Weber, accomplice, Heal Capital
Heal Capital is a healthtech-focused VC from Berlin. Weber’s portfolio consists of telemedicine startup Avi Medical, AI triaging answer Infermedica and neurological remedy firm Ceregate.
Marta
Marta is a market connecting caregivers with care-seeking households. The caregiver often joins a household for 3 months to supply 24-7 at-home care. Most caregivers come from central and japanese Europe and ship work in Germany. The market continues to be very fragmented and pushed by company fashions. Marta is constructing a real market with further providers for all events, and the mannequin has nice potential to turn into the winner-takes-all of this house with growing digital affinity within the affected person and household cohorts.
Raised: Undisclosed
Based: 2021
Final Spherical: Undisclosed, 2021
Headquartered: Berlin
Patronus
Patronus is promoting smartwatches to supply emergency entry to care sufferers. This market continues to be dominated by old-school options that don’t make use of the potential of contemporary know-how. Patronus has created a fantastic entry product, and can be driving the wave of accelerating adoption of digital features into the care sector. A smartwatch is a extremely partaking gadget that gives varied methods to broaden the service providing.
Raised: $7m
Based: 2009
Final Spherical: $7m, Might 2022
Headquartered: Berlin
Andrea Zitna, accomplice, Speedinvest
Speedinvest is an early-stage VC with places of work in Berlin, London, Munich, Paris, Vienna and San Francisco. Zitna’s portfolio consists of digital ward startup Doccla, workflow optimisation software program Seqera Labs and diagnostics infrastructure supplier DasLab.
Birdie
Birdie is the working system for care suppliers, managing all the pieces from care planning and scheduling visits to billing and auditing. The corporate’s longer-term imaginative and prescient is to leverage the information it collects to energy a extra personalised and preventative healthcare for the social care sector.
Raised: $55m
Based: 2017
Final Spherical: €30m, June 2022
Headquartered: London
Helppy
With shift-work patterns, excessive carer churn and restricted instruments for the carers or households, right this moment’s house care mannequin doesn’t meet the calls for of the ageing populations throughout Europe. Helppy, a Finnish tech platform for aged house care, is on a mission to repair the damaged mannequin. With its neighbourhood care mannequin, Helppy has developed a platform that delivers a greater, extra private and environment friendly expertise for all concerned. Thus far, it has helped practically a thousand households and has attracted over 5,000 nurses and helpers to enroll on the platform.
Raised: $3.3m
Based: 2018
Final Spherical: €3m, Might 2022
Headquartered: Helsinki
Lottie
Looking for a care house is a time-consuming and aggravating course of. Lottie is a free-to-use search and comparability web site that connects care seekers to the UK’s finest care houses and retirement communities. The corporate processes hundreds of thousands of information factors to assist folks discover the proper match, however Lottie’s ambition to rework aged care extends far past search. The Lottie crew additionally offers operational know-how that’s already utilized by lots of of care houses within the UK and can additional make investments on this know-how.
Raised: $11.9m
Based: 2021
Final Spherical: £6m, July 2022
Headquartered: London
Sofia Queiroz, accomplice, Mustard Seed Maze
Mustard Seed Maze is an early-stage influence fund primarily based in Lisbon. Queiroz’s portfolio consists of enterprise coaching college Iconoclass, info administration software program Mindstone and worker administration platform Juno.
Qida
Qida is a Spanish startup that helps households and people who find themselves not residing autonomously. What separates Qida from the remaining is the tailor-made help, enabled by know-how and enhanced by a multidisciplinary crew of therapists, psychologists and different caregivers. The cautious choice and matching course of between caregivers and caretakers permits Qida to ship on superior retention charges and glorious buyer evaluations.
Raised: $5.4m
Based: 2017
Final Spherical: €3.6m, July 2020
Headquartered: Barcelona
MyCareforce
MyCareforce is a digital platform that connects care and well being professionals with care and well being models, automating the method of filling in shifts and capability wants inside care establishments. MyCareforce gives a one-stop store for each care professionals and well being establishments to handle capability wants, shifts, service supply and efficiency evaluation. Its deal with healthcare providers is proving the necessity for sector-specific suppliers of short-term employees versus sector-agnostic platforms.
Raised: $710k
Based: 2021
Final Spherical: €170k, July 2022
Headquartered: Lisbon
Important
Important gives an API for accumulating at-home well being knowledge from wearables that enables builders to construct healthcare purposes. Its focus is on centralising affected person well being and health knowledge, by connecting with a number of units, and making the information accessible to corporations by means of a single integration. It’s having a constructive influence within the acceleration of product growth inside the healthcare business.
Raised: $3m
Based: 2021
Final Spherical: 2022
Headquartered: San Francisco and London
Vira Well being
Vira Well being is a digital therapeutics firm centered on girls’s well being. The corporate’s first product is an app that helps girls by means of menopause, by offering personalised suggestions supported by evidence-based strategies and skilled consultants. The product consists of suggestions from way of life adjustments to pelvic flooring workout routines. The mix between a human and an AI-driven and personalised strategy is positioning Vira as one of many prime menopause manufacturers within the sector.
Raised: $14m
Based: 2019
Final Spherical: $12m, March 2022
Headquartered: London
Lucanus Polagnoli, accomplice, Calm/Storm Ventures
Calm/Storm Ventures is an early-stage VC primarily based in Vienna. Polagnoli’s portfolio consists of aged care startup Vermut, distant clinic platform Suvera and childcare telehealth app Biloba
Advosense
Advosense is constructing an incontinence administration answer to assist nurses handle their sufferers. Utilizing off-the-shelf know-how, the system sends real-time notifications when the affected person must be modified. Incontinence care stays inefficient and there’s a transparent want to rework the care pathway by making routines simple and sensible.
Raised: $55k
Based: 2020
Final Spherical: €50k grant, November 2020
Headquartered: Berlin
Kai Nicol-Schwarz is a reporter at Sifted. He covers healthtech and group reporting, and tweets from @NicolSchwarzK.