- HealthCaters just raised $1.2 million in seed funding from Barmenia Next Strategies.
- The German startup offers personalized health screenings, mainly as an employee benefit.
- Check out the 14-slide pitch deck used to raise the fresh funding.
A startup that provides personalized health screenings for individuals and businesses has raised $1.2 million in new funding.
HealthCaters, a Berlin-based company founded three years ago, has developed a home-testing kit that allows users to screen themselves for preventable diseases. Based on the results of these screenings, the startup’s app, which is also powered by AI, then recommends personalized health guidelines.
“After a typical doctor’s visit, people usually leave with a sheet of numbers that they don’t always understand,” cofounder Tatyana Eliseeva explained. “But through our app, you can see all your health data after the screening, and we connect the dots to create a holistic picture.”
Medical devices in the screening box can measure everything from lung, cardiovascular, and metabolic health to bladder function and blood sugar levels. The screening takes about 30 minutes, and the results are analyzed at HealthCaters in-house. Based on these findings, the startup’s medical coaches develop an individual health plan for each patient.
One of the primary issues that the startup seeks to address is the affordable prevention of diseases. “The numbers show, the burden of chronic illness is increasing,” she said. “It’s not possible to prevent things if people aren’t accepted into the health system to begin with.”
Preventative healthcare is having a moment, with tech titans like Daniel Ek launching new companies in the field. Eliseeva hopes that the momentum will result in a shift toward more effective treatment of chronic illnesses.
The startup generates revenue in two ways. Individual plans begin at €39 euros (approximately $41), and it collaborates with companies such as IBM and WeWork to provide their services as an employee benefit.
“We began collaborating with leading employers and insurance companies in Germany and Europe.” “There is a huge need for businesses to reduce sickness costs,” said cofounder Dr. Lilia Kruse.
So far, funding for healthtech startups has dropped by more than 45% year on year, and the duo found the funding process “difficult to navigate” in a slumping tech market.
The seed round was led by the venture capital arm of German insurance company Barmenia Next Strategies, with DvH Ventures and Venpace also participating.
With the new funding, HealthCaters plans to expand its business-to-business offerings and enter the UK market.