15 January 2020:
Oviva has raised $21 million in Series B round of funding. The funding round was led by MTIP. Earlybird and existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech also participated in the funding round.
The company will use the fresh capital to further develop it’s technology and expand in Europe to serve the millions of patients not accessing treatment today.
Christoph Kausch from MTIP and Rainer Christine from Earlybird will be joining Oviva’s Board of Directors.
Lucy Jones, Clinical Director of Oviva, said, “Behaviour change is the safest and most cost-effective way of preventing and managing diet related health conditions including Type 2 diabetes. Our technology, empowers patients to take a leading role in managing their health, improves compliance and outcomes.”
Kai Eberhardt, CEO and Co-founder of Oviva said, “The new financing allows us roll out our uniquely effective solution to large patient populations rapidly across Europe and further develop the underlying technology to better address patients’ unmet needs.”
Christoph Kausch, CEO of MTIP said, “Oviva is a superb example of a digital health company with the potential to transform the lives of millions of people across the globe for the better. We’re excited to become partners in their mission to improve access to effective diabetes- and obesity-management solutions in this next phase of the Company’s growth.”
Christoph Ruedig, Partner at AlbionVC said, “Despite compelling evidence that digital treatments improve patient access and outcomes significantly while reducing costs for health systems, Europe is investing a fraction compared to the US in this area. We’re excited to continue to support Oviva’s accelerated roll out across Europe.”
(Image – Oviva)