Oviva, the digital health scaleup which provides diet and lifestyle coaching has announced that it has raised €67 million ($80m) in Series C funding to expand its digital diabetes treatment across Europe.

The round was co-led by Sofina and Temasek, alongside existing investors AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and several angel investors.

WHY IT MATTERS

In Europe, more than 300 million people live with health challenges that are caused by diet or can be optimised through personalised dietary changes. Only a small fraction of the 300 million are offered digital care.

The scaleup will use the funding raised to continue to grow its reach to the millions who can use digital diet and lifestyle treatment, and further establish its position in the UK, Germany, Switzerland and France.

The company also plans to scale its technology and make it more accessible to a wider range of people by growing its team to 800 employees by the end of 2022.

Oviva aims to empower people to change their diet-related habits, improving their long-term health and enhancing their wellbeing. Oviva does this by combining individual coaching with an intuitive app and hiring certified dietitians, which ensures that costs are covered by the health systems and insurers.

This new funding round brings the total amount raised by the company to €97 million ($115m) and helps build on its partnerships with health systems, insurers, doctors and operations across Europe.

THE LARGER CONTEXT

Last year, the Swiss firm raised €30.5 million to roll out digital diabetes treatment in Europe. The round was led by Swiss healthtech investor MTIP, joined by Earlybird as new investors. Existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech all participated. 

ON THE RECORD

Kai Eberhardt, CEO and co-founder of Oviva, said: “People growth across all functions will be a key focus over the next few months. On the one hand, we are keen to enable existing employees to take over more responsibility. And, on the other hand, we are searching for new talent to join us on our journey to help our existing and new patients achieve better health and well-being.” 

Harold Boël, CEO of Sofina, said: “We see great potential in Oviva. Its solution is an example of how major healthcare and societal issues like diabetes can be addressed by the application of digital solutions, which is a topic our healthcare sector team has a strong conviction for. Oviva has already made big steps in the right direction in recent years and we believe that this was just the beginning.” Focus on Innovation