Finnish digital health company Kaiku Health Oy, which provides intelligent patient monitoring software for healthcare providers across Europe, has closed a €4.4 million funding round.
Kaiku Health offers intelligent patient monitoring software for healthcare providers, mainly in oncology. Structured capture and analysis of patient-reported data enables clinicians to evaluate the effectiveness of therapies and to detect and treat health problems early. Kaiku Health platform is used in routine care by over 30 clinics in Switzerland, Germany, Italy, Sweden, and Finland, and has been used by 64,000 patients (March 2018).
The company intends to use the funding to power its international expansion and further develop its digital therapeutics pipeline. Together with its partners, Kaiku Health will conduct several clinical trials validating the digital therapeutics offering.
“We have seen the significant positive impact our patient monitoring platform can have on people’s health,” comments Lauri Sippola, Kaiku Health CEO and Co-Founder. “This funding allows us to provide our platform to a growing number of healthcare providers and patients internationally. It is important that our investors also bring an extraordinary understanding of healthcare, life sciences and digitalization.”
“We are excited about the impact digital technologies will have on the patient journey and are particularly enthusiastic to help take the digital therapeutic approach in oncology out of the lab and onto the market where the benefits of this high frequency monitoring can be expected to bring real outcomes improvement,” says Tanja Dowe, CEO at Debiopharm Innovation Fund.
“We have studied the Finnish digital health sector thoroughly and found it extremely interesting from an investor’s point of view,” adds Joni Karsikas, Investment Manager at Tesi. “The Kaiku Health team impressed us with its strong technological know-how, for instance in the use of artificial intelligence. Kaiku Health has strong international customer references and a broad user-base for a young health-tech company.”
The investment was led by Debiopharm Innovation Fund SA and Tesi with participation from Prodeko Ventures Oy and existing investors Reaktor Ventures Oy, Metsola Ventures Oy, and Athensmed Oy.
