Temedica, the Munich-based medtech developing apps to help people with a variety of health challenges, has raised €17 million in a round led by MIG, a VC also based in Munich. Santo Venture Capital, Salvia, and existing investors G+J Digital Ventures and Bernd Wendeln, a Munich business angel, also participated in the round.
Founded in 2016, the digital health startup has 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.
Temedica apps are often free for users, thanks to certifications and agreements with most German health insurance companies. Public insurers waited for their central inspection agency to confirm the startup’s apps are effective in preventive health. The startup also has contracts with individual health insurance companies.
The new funding will help the team expand from its current headcount of 40 to around 100 people by the end of the year. The startup also wants to internationalise its products, and will be researching the regulatory frameworks that vary from country to country.