Munich-based medtech startup Temedica has added an additional €25 million to its Series B round, now taking the total to a healthy €42 million. The extension round was led by existing investors MIG Capital as well as an undisclosed Munich-based family office. The new funding is aimed at further expanding the company’s product ecosystem.
Founded in 2016, the digital health startup has previously developed a bundle of apps for the German healthcare market. The offering includes Pelvina, an online course for women to train the pelvic floor; Mineo, for back training; and Waya, an app that aids in weight loss.
Now, the company appears to be focused more on the health insights side of things, notably through its platform Permea and associated previously mentioned apps. The end goal? Offering a holistic understanding of patient’s care realities.
According to the company, from more than 40 billion data points on over 50,000 diagnoses, Temedica cab derive health-related insights on issues such as disease progression, treatment effectiveness, patient journeys, and medication adherence.
“Temedica’s vision is to make a pioneering contribution to the development of personalized medicine by linking health-relevant data to new, evidence-based insights. We are convinced that big data sets and completely new types of data play a key role in this, such as patient-generated data from large populations outside of classic clinical trials,” commented Temedica founder and CEO Gloria Seibert. “These enable a completely new knowledge and understanding of diseases and their actual courses. I am very pleased that our investors share this vision and accompany and support us as we continue to expand the Temedica ecosystem. ”
On the decision to further fuel Temedica’s journey, MIG Capital’s Boris Berstein comments, “Temedica is operating in a massively growing and highly attractive market. The newly developed real-world insights platform Permea provides pharmaceutical companies with a deep understanding of patients and their care in the real world, outside of clinical trials. Access to this unique 360° understanding of care realities has the potential to revolutionize our healthcare system as we know it. The team at Temedica is highly motivated and goal-oriented, and we are excited to work with them and continue our journey together.”