FirstVet raises 18.5m and other European healthtech news – Sifted

Posted: November 11, 2019 at 3:46 am

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On-demand video consultations with doctors have proven popular healthtech startup apps like Kry and Babylon have been downloaded more than 1.2m times in Europe as patients show that theyre keen for flexible checkups.

Now it turns out that people want on-demand video consultations for their pets, too.

FirstVet is a three-year-old Swedish startup that puts pet owners in touch with vets via an app. Its expanded into neighbouring Norway, Denmark and Finland, as well as the UK and has clocked up more than 200,000 registered users.

One Trustpilot reviewer said its great for emergencies that probably arent emergencies. Other reviewers were pleased that FirstVet saved them a trip to a clinic and a hefty bill.

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Like many doctor apps FirstVet has built partnerships with several insurance companies, including Bought By Many in the UK, making the service free for some users. For other UK customers it costs 20-30 per consultation.

Dogs are the most commonly treated pet, followed by cats. Horses account for 4% of consultations, while perhaps the most unusual treatment FirstVet has assisted with was organising an x-ray for a goldfish.

With its latest injection of funding an 18.5m Series B led by London-based fund OMERS Ventures, with participation from Creandum FirstVet plans to launch in other markets, such as France, Germany and the US. Theres big money to be made heading to North America: the US veterinary care market was worth $70bn in 2017, compared with only 9bn in Germany.

FirstVet currently has a team of 35 and works with 150 vets.

Pharma giant Bayers venture capital arm, Leaps by Bayer, led a $25m round of investment into UK medtech startup Medopad.

Its not the only big firm keen on the company; Medopad also works with Johnson & Johnson, GlaxoSmithKline (GSK) and Chinese internet giant Tencent, amongst others.

Medopad, founded in London in 2011, builds and tracks digital biomarkers (i.e. indicators of illness or disease picked up by apps and wearables). These help doctors monitor patients conditions via an app.

Its also integrated several other healthtech companies within its platform, such as medical equipment firm Medtronic and heart rhythm monitor FibriCheck. This means clinicians (and patients) can use Medopad to track several conditions rather than using a separate app for each.

Many healthtech startups are making a platform play: from Berlin-based digital diagnosis app Ada to Paris-based health insurance provider Alan all aspire to be a one-stop-shop for patients health needs.

Few European healthtech businesses have landed as many corporate and hospital partnerships as Medopad, however. Earlier this year, it began a clinical trial with Tencent to test the use of artificial intelligenceto diagnose patients with Parkinsons disease. It also signed a three-year contract with one UK hospital, The Royal Wolverhampton NHS Trust, to offer remote support to patients living with heart problems and diabetes. Medopad has also begun acquiring competitors; last September it bought US rival Sherbit.

Inne is far from the only fertility and contraception startup in Europe. There are now quite a few, including Natural Cycles, a birth control app, Moody Month, an app which helps women track their hormones and Clue, which helps women track their periods. Many of these aim to help women return to their natural cycle and move away from hormone-control pills.

Berlin-based Inne has developed a saliva biosensor device to help women work out when theyll be most fertile. The product, which can be used to get pregnant or avoid getting pregnant, will launch later this year.

London venture capital firm Blossom Capital led the round, with prominent angel investors Taavet Hinrikus and Tom Stafford also participating.

Inne joins the booming world of European femtech from digital doctors specifically catering to womento menopause tech.

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FirstVet raises 18.5m and other European healthtech news - Sifted

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