Oviva has developed a digital solution to manage diabetes. The new capital will be used to further develop Oviva’s technology and expand in Europe to serve the millions of patients not accessing treatment today. The round was led by MTIP, the Basel-based specialist investor in Healthtech scale-up companies.
Headquartered in Switzerland, Oviva offers an evidence-based digital solution to stop the progression of and reverse Type 2 diabetes and obesity-related conditions. Patients receive tailored nutrition advice and personalized coaching via their phone. Oviva’s technology-supported treatment has consistently demonstrated higher patient uptake, retention and outcomes at lower costs compared to face-to-face therapy. Oviva has treated 90,000 patients to-date across the UK, Germany, France, Switzerland and the UAE, consistently doubling each year for the last 3 years.
Oviva has closed a financing round of $21 million, led by MTIP. The round also included new investor Earlybird and existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech. It brings the total amount raised by Oviva to date to $34m.
MTIP brings extensive experience in the European digital health segment, crucial to supporting the Company’s next phase of growth.
Kai Eberhardt, cofounder and CEO of Oviva commented: “We are delighted to partner with MTIP. 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 commented: “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.”
The Company’s target market includes patients with Diabetes, considered to be pre-Diabetes or obese. Globally, an average of one in eleven people has been diagnosed with Diabetes – nearly double the proportion of the population with Diabetes in 1980 (4.7%). According to WHO country estimates, over 50% of both men and women in the WHO European Region are overweight, and roughly 23% of women and 20% of men are considered obese.
(Press release / SK)
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