Oviva raises $21M to roll out digital diabetes treatment in Europe
Oviva , the digital provider of Type 2 diabetes treatment in Europe, has raised $21m in Series B funding. MTIP led the round, joined by Earlybird as new investors. Existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech all participated.
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. It brings the total amount raised by Oviva to date to $34m.
Founded in 2014, 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. So far, Oviva has treated 90,000 patients across the UK, Germany, France, Switzerland and the UAE, and its technology-supported treatment has “consistently demonstrated higher patient uptake, retention and outcomes at lower costs compared to face-to-face therapy.”
“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.” – Lucy Jones, Clinical Director of Oviva.
“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.” – Kai Eberhardt, CEO and cofounder of Oviva.
“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 Kausch, CEO of MTIP.
“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.” – Christoph Ruedig, Partner at AlbionVC.
