Copenhagen-based digital healthcare platform Practio has secured €8.2 million in financing, a combination of equity funding, loan conversion and debt financing. Led by Swedish VC Spintop Ventures, the round was joined by Germany’s PHOENIX Group and Carl Westin, an investment firm that focuses on digital health.
The Nordic startup aims to turn pharmacies into direct points of care for their neighborhoods, which it says would benefit three players: healthcare institutions would bear less strain, patients receive convenient and prompt care and pharmacies build community relationships as well as new revenue streams.
“Recent events have clearly demonstrated the global need to fundamentally rethink primary healthcare delivery,” says co-founder and CEO Mads Mikkelsen.
Initial services include travel vaccinations and Covid-19 antibody testing. The business has been expanding across Denmark since 2015 and launched in the UK last year. The new capital will accelerate the UK roll-out and fund entry into German market by the end of this year. New services and markets will follow in 2021.
Photo: CEO and co-founder Mads Mikkelsen