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Wednesday, April 24, 2024

Digital therapy startup Medoma raises €6M in seed funding

Swedish digital therapy startup Medoma has raised €6 million in seed funding. The company will use the money to introduce virtual wards for patient care at home.

Startups offering digital treatment and virtual healthcare services are on the increase, and Medoma has just received €6 million in venture investment. In the Nordics, the Swedish company has established “virtual acute wards.”

The financing was headed by Nordic venture capital company Inventure and Bonnier Group’s investment arm, Bonnier Ventures. VNV Global, Sophia Bendz through Cherry Ventures, Swedish financier Sven Hagströmer’s private investment business Biovestor, and Gabriel Urwitz’s investment company AB Segulah also invested in the financing.

Several well-known and successful Nordic entrepreneurs, including the co-founders of Kry, Johannes Schildt and Josefine Landgrd, have previously backed Medoma. Furthermore, Medoma has inked a deal with the acute hospital Capio S:t Görans, under which Medoma will provide acute virtual beds to hospital patients in Region Stockholm.

The additional monies will be utilised to make the new care model a reality. It will allow investments in the development of its own technical platform to offer technology-driven acute care at home.

Medoma, founded in Stockholm in 2021 by Henrik Bjartun, Johan Nordenstrom, and Mikael Kastengren, digitises acute care.

Patients are provided the option of being treated at home for the entirety or a portion of their acute care experience through Medoma’s virtual acute wards. During the epidemic, the paradigm of tech-enabled home care acquired great popularity in the United States, and Medoma’s focus is now on bringing this revolutionary care-model to Sweden, the Nordics, and Europe. Medomas’ goods and services include medtech equipment, 24-hour medical monitoring, and ambulating care workers.

A dispatch centre digitally monitors Medoma patients within a 30-minute drive of a hospital. When treatment is required, one of the 16-person Medoma healthcare team is alerted depending on the location, and a visit to the patient’s home is scheduled. “We are both grateful and humbled by our shared vision – that technology-driven acute care in the home may be one of many answers to Sweden’s present hospital crisis, with a substantial lack of hospital beds being one such problem that requires prompt attention.”

Johan Nordenström, CEO and co-founder, stated, “With this additional investment round, we will be able to continue to grow our team in all aspects of our business, building on our provision of excellent acute patient care in the home. Bonnier Ventures is pleased to assist Medoma’s exceptional team in their drive to transform healthcare.”

Overcrowding is one of the most serious problems in healthcare, putting a load on personnel and endangering patient safety.

Sofia Hasselberg, director of Bonnier Ventures’ Healthcare investment team, said, “Medoma allows severely sick patients who require inpatient care to get it in their own home rather than a hospital ward – a proven model that has been valued by both patients and healthcare professionals in the US.”

Kevin Lösch, who heads Inventure’s Medoma investment, said, “Medoma is addressing the precise interface of the problem; with its redefined approach to technology-driven acute care outside of the hospital ward, Medoma is alleviating a significant strain on hospitals. We are really delighted to be a part of Medoma’s journey and to support this excellent team as they restructure healthcare towards a more efficient healthcare system.”


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