Seeking to improve the lives of those with diet-related health challenges, Zürich-based healthtech Oviva has raised $80 million in a Series C round. The platform combines a personalised coaching service via an app as well as direct access to certified dietitians. The fresh capital is aimed at bolstering Oviva’s presence in new and existing markets as well as eye potential M&A opportunities. To date, the firm has raised approximately $115 million.
In 2014 Oviva co-founders Kai Eberhardt, Manuel Baumann, and Mark Jenkins recognised that although approximately half the European population is overweight, and therefore at risk of developing type 2 diabetes, no personalised, long-term treatment options existing. The trio’s solution was to marry the best technology with the best dietary advice, et violà, Oviva is born.
It would appear that this combination has truly struck a chord, as the service has helped over 200,000 individuals with diet-related health challenges, and formed partnerships with more than 5,000 health systems, insurers, and doctors across Europe. Since January of this year, the Oviva app has been recognised as a certified medical device.
Oviva’s Series C round was co-led by Sofina and Temasek, with existing investors AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and several undisclosed angel investors all participating.
“We see great potential in Oviva. Its solution is an example of how major healthcare and societal issues like diabetes can be addressed by the application of digital solutions,” commented Sofina’s CEO Harold Boël.