1 in 8 people globally live with a mental disorder. Among these, 300 million are affected by anxiety. In high-income countries, this number climbs to 15% of the population. Behind these statistics are friends, family, or colleagues struggling to find relief.

The dominant treatment for anxiety today is medication. While drugs like SSRIs and benzodiazepines can be effective, they often come with side effects that many find hard to accept. Therapy, though transformative, requires significant time and resources, often stretching for months or even years (commonly 3–18 months).

Meanwhile, healthcare systems worldwide are under immense pressure. Europe, for instance, faces a projected shortfall of 4 million healthcare workers by 2030—600,000 doctors, 2.3 million nurses, and 1.1 million social care staff and assistants.

This raises an urgent question: How do we support people with anxiety while lightening the load on healthcare professionals?

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A New Era of Anxiety Management: Technology

Digital mental health apps like Liven, BetterHelp, and Moovd are already making waves, helping users identify triggers and manage stress. Similarly, wearable devices like Muse and handheld tools like Moonbird are leveraging biofeedback to promote relaxation.

But one category is especially intriguing—‘touch medicine.’

Research shows that tactile stimulation can significantly reduce anxiety, stress, and even physical pain. Skin-to-skin contact—or the next best thing, technology that mimics it—opens the door to a new kind of therapy: one that’s effective, safe, and side-effect-free.

Touchwaves & MYSA: A Game-Changer

I recently spoke with Pauline van Dongen, co-founder of Touchwaves, about their innovative solution, MYSA.

Pauline described MYSA as more than just a device: “It’s a companion.” The shirt combines tactile stimulation with biofeedback to support anxiety management.

Martin: Anxiety is a growing concern globally. How do you see MYSA fitting into the broader context of mental health solutions?

Pauline: MYSA responds to two critical gaps: the increasing demand for mental health support and the growing interest in actionable tools for self-care. Products like Somnox and Moonbird show that the market is ready for hardware-based solutions that empower individuals to take charge of their well-being.

We’re also exploring MYSA’s role within therapy settings. Together with Levvel, a youth care organization, we’re studying how MYSA can help therapists support their clients more efficiently, potentially reducing treatment time. It’s not about replacing professional care but amplifying its effectiveness and providing additional support between sessions.

What’s Next for MYSA?

The potential for MYSA goes far beyond anxiety management. Pauline envisions MYSA extending beyond anxiety support into areas like:

• Stress Management in High-Pressure Professions: Healthcare, education, law enforcement, and other demanding fields.

• High Performance and Sports: Recovery, focus, and relaxation for athletes.

• Broader Mental Wellness: Tools like MYSA offer moments of balance in a chaotic world, encouraging users to pause, breathe, and reconnect.

“At its heart, MYSA is about creating moments of balance in an unbalanced world,” Pauline told me.

And that’s something we can all relate to—a need to pause, breathe, and reconnect.

👉 If you’d like to experience MYSA or learn more, feel free to get in touch here.

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Martin faced a setback in his life when he and his wife tried to start a family. Shortly after their marriage, 31-year-old Nina discovered she was dealing with infertility challenges. For this reason, in 2015 Martin founded Prelude Fertility/Inception now the largest chain of fertility clinics in the USA. Two years later he also founded Overture Life, focused on automating the embryology lab.

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Let’s take a look at the key points that are the pillars of his investment strategy:

Investment Strategy Key Points:

1. Fertility, Longevity, and Healthspan: Invests in companies that extend human lifespan and improve quality of life.

2. Early-stage Investments: Often invests in early-stage startups with high growth potential via Martin Varsavsky's early-stage investment fund, VAS Ventures.

3. Cross-disciplinary Approaches: Prefers companies that combine biology, technology, and data science.

4. Global Reach: Investments are not restricted by geography, though there is a significant presence in North America and Europe.

Companies Invested In

1. Gameto

• Total Funding: $73 million

• Industry: Fertility

• Description: Gameto is a biotech company focused on using cell engineering to develop therapeutics for diseases of the female reproductive system. They aim to address issues related to menopause and reproductive longevity.

I like how Gameto is innovating in cell engineering to address menopause and reproductive longevity, targeting significant unmet needs.

2. Prelude Fertility

• Total Funding: $200 million

• Industry: Fertility

• Description: The Prelude Network is the fastest-growing network of fertility clinics and the largest provider of comprehensive fertility services in the U.S.

Despite being the largest provider in a growing market with stable revenue potential, Prelude Fertility faces high operational costs and increasing competition.

3. Overture Life

• Total Funding: $52.4 million

• Industry: Fertility

• Description: Overture Life is a clinical-stage biotechnology company focused on automating assisted reproductive processes to enhance IVF outcomes. Its innovative technologies standardize fertility treatments, simplifying techniques and optimizing resources to make reproductive care more affordable, reliable, and accessible.

Automation and non-invasive techniques could revolutionize IVF outcomes, reduce costs, and increase success rates.

4. Aura Bioscience

• Total Funding: $381 million (NASDAQ:AURA)

• Industry: Oncology

• Description: Aura Biosciences is a clinical-stage biotechnology company developing virus-like drug conjugates (VDC), a novel class of therapies, for the treatment of multiple oncology indications.

Aura Biosciences' innovative VDC technology targets multiple oncology indications, offering strong potential for disruptive cancer treatments.

5. Motiv

• Total Funding: $25.7 million

• Industry: Preventive Health

• Description: Motiv is a wearable technology company focused on designing products that fit seamlessly into people's lives and keep them living better. Motiv’s first product, Motiv Ring, is sold internationally, in Europe, Asia, the Middle East, Australia and New Zealand.

Motiv is an interesting business, but it faces high risks such as intense competition and dependency on consumer adoption.

6. Jawbone Health

• Total Funding: $65.5 million

• Industry: Primary Care

• Description: Jawbone Health is at the forefront of revolutionizing primary care for millions of patients worldwide.

7. Braid Health

• Total Funding: $12 million

• Industry: Healthcare Diagnostics

• Description: Braid Health is redefining the landscape of healthcare diagnostics with its innovative approach to real-time radiology and medical imaging. The company provides healthcare professionals with the tools they need to deliver immediate, high-resolution diagnostic results.

Braid Health offers the right product at the right time, addressing the growing demand for advanced diagnostics.

8. 23andME

• Total Funding: $1.1 billion (NASDAQ:ME)

• Industry: Genetics

• Description: 23andMe, is a leading consumer genetics and research company. 23andMe has created the world’s largest crowdsourced platform for genetic research.

Despite the data breach lawsuit, for which 23andMe reached a settlement this week, it remains a leading consumer genetics and research platform with a strong brand and significant market presence.

9. Forward

• Total Funding: $325 million

• Industry: Preventive Health

• Description: Forward is a startup redesigning the way we deliver healthcare using all the technologies healthcare has neglected: sensors, mobile, and AI. The company is funded by some of the world's best investors and entrepreneurs including First Round Capital, Eric Schmidt (Google/Alphabet chairman), Marc Benioff (Salesforce founder), Joe Lonsdale (Palantir founder), Joshua Kushner (Oscar co-founder) and Garrett Camp (Uber co-founder).

Forward is on the right track by emphasizing preventive health with innovative technologies.

10. Daye

• Total Funding: $17.1 million

• Industry: Fem-tech

• Description: Daye is a gynecological health company that creates products and services for vaginal treatment. The company started with the invention of the world’s first pain-relieving tampon, designed to support the 90% of women who experience menstrual cramps.

Daye offers a unique product addressing menstrual cramps, with significant market potential and opportunities for product diversification.

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Portfolio Analysis

Martin’s portfolio includes a mix of early-stage startups and established companies, all pushing the boundaries of science and technology in healthcare. This diversification aims to balance risk and potential returns by investing in both established and emerging companies with innovative technologies.

Overall Strengths:

• Innovation Potential: These companies are at the forefront of technological advancements, offering high growth potential.

• Market Demand: Addressing critical and growing healthcare needs, such as fertility, oncology, and preventive health.

Overall Risks:

• High R&D and Operational Costs: Many companies require substantial investment with uncertain returns, especially those in the early stages.

• Regulatory Challenges: Strict regulatory environments can delay or impede progress across various sectors.

• Market Competition: Intense competition necessitates continuous innovation and market adaptation.

+ Health-tech is good

👉 Inside Patient21 Strategy

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Patient21 is a five-year-old German startup that combines a digital healthcare platform with real-world brick-and-mortar clinics.

The company has raised a total of $187 million in funding, with Pitango, Israel's largest venture capital fund, leading the Series C round of €100 million. This round saw participation from Bertelsmann Investments, Artian, and existing investors such as Target Global, Piton Capital, and PICO Venture Partners.

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Patient21 is shaking up primary healthcare by blending advanced digital solutions with physical clinic operations, aiming for a seamless, patient-centered healthcare experience.

Its strategy lies in six pillars:

1. Digi-Physical Platform: They blend digital health services with physical clinics to create an integrated patient experience. This ensures patient records are always up-to-date and accessible, helping healthcare professionals make better decisions and provide higher quality care at lower costs​

2. Focus: Their primary focus is on dentistry for now, with over 80% of its clinics targeting oral health. The rest are split between gynecology and general practice. Patient21 is committed to value-based healthcare, which emphasizes the quality of care provided to patients rather than the quantity of services rendered.

3. Technology: Patient21 has developed specialized software to manage patients and direct them to its 50-plus outpatient clinics across Germany. Additionally, they've created clinic-facing software that reduces administrative burdens for healthcare professionals, allowing them to prioritize patient care. This innovative approach effectively addresses staff shortages in the healthcare sector.

4. Data: The company leverages data to optimize healthcare delivery, ensuring patients get the best possible advice and treatment​.

5. Expansion: Patient21 has seen significant growth, with more than 300,000 patient visits each year, now operating 50 clinics across 19 cities in Germany. The company employs 650 professionals in the dental field, enhancing its capacity to deliver high-quality healthcare services.

6. Strong Leadership: Christopher Muhr, former COO at Auto1 Group and co-founder of Citydeal (acquired by Groupon in 2010), along with Nicolas Hantzsch, who has led successful ventures like Veganz (IPO), MetaTravel/HometoGo (IPO), and Groupon (IPO), draw from their entrepreneurial journeys and personal battles with cancer. Their experiences drive their mission to innovate primary care through digital solutions at Patient21.

+ Health-tech is good

👉 5 Takeaways from HLTH Europe 2024

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Now, I'm excited to share five key takeaways from HLTH Europe with you.

1. Accessing the Netherlands: A clogged market or too gouda to be true?

Douwe from Healthy Capital moderated this great panel, featuring Piet Hein Van Dam, founder and CEO of Clear.bio, Niels van Gorp from Digizo.nu, and Corien Staels from Staels.com.

The Netherlands presents unique challenges as a market. With citizens expecting health services to be covered by their health plans, initiatives relying on out-of-pocket payments often struggle to succeed.

Other challenges in the market include:

• Worker Shortage: An expected shortfall of 600,000 workers by 2030.

• High Healthcare Expenses: €103 billion spent in 2023.

• Aging Population: 50% of the population is over 50 years old.

• Rise in Chronic Diseases: 80% attributed to lifestyle and environment.

• Large Inefficiencies: Long waiting lists for health care services.

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2. Welcome aboard, Amsterdam!

Speaking of out-of-pocket initiatives, Aware.app just launched in Amsterdam last week, strategically coinciding with HLTH Europe week. They offer super convenient health checks covering over 70 key biomarkers for a yearly membership of €179. They're also in Berlin, Frankfurt, Hamburg, Munich, and Vienna. I love this idea and can't wait to see how it takes off in the Netherlands!

3. AI in the NHS - changing the game

It was an impressive panel where members of the NHS showcased various initiatives they're taking to adopt AI. The discussion highlighted an AI Copilot that helps doctors take notes more efficiently and quickly, and even helps reduce coding errors for health insurance companies. They also introduced a Clinical AI Fellowships program designed to train medical professionals in AI.

Hats off to the NHS for these forward-thinking initiatives!

4. Transforming Perspectives on Psychedelics: A Journey Beyond the Trip

The panel, moderated by Genevieve from The Jurvetson Foundation, featured Florian Brand, CEO of Atai Life Science, and Kabir Nath, CEO of Compass Pathways. They dived into how psychedelic research could revolutionize mental health treatment.

They talked about the massive global mental health crisis, with a billion people affected and traditional meds like SSRIs often falling short. The focus was on the promise of psychedelics, especially for patients who haven’t found relief with other treatments, and the need for top-notch data and solid clinical trials to tackle stigma and misconceptions.

Florian mentioned Spravato's success and Atai's plans to use similar in-clinic treatment models for their psychedelic drug candidates to make them more accessible and affordable.

The panel was a fantastic chance to highlight cutting-edge research in psychiatry and the importance of a team effort to advance mental health care. I'm passionate about this topic and truly believe that psychedelics have the potential to significantly enhance mental health treatment.

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5. Calm/Storm HealthTech Breakfast - Event Recap

On Tuesday, I attended a HealthTech Breakfast hosted by Calm/Storm in collaboration with naturalX Health Ventures at The Hoxton in Amsterdam!

The event gathered over 100 HealthTech enthusiasts, including VCs, founders, and industry veterans, fostering lively discussions and valuable networking opportunities.

Lucanus Polagnoli, founder of Calm/Storm, presented their latest Digital Health Compass, offering fresh insights into the dynamic HealthTech market. During the event, Marvin Amberg introduced naturalX Health Ventures, emphasizing three key points:

1. It's a new venture capital fund dedicated to consumer health.

2. The fund is backed by Schwabe Group, a renowned German pharmaceutical company specializing in plant-based medicine.

3. They have launched a €100 million Series A/B fund aimed at becoming a leading European investor in the consumer health sector.

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P.S. Photo by Catalina Fedorova on Unsplash

• In Europe, 61 million people have Type 2 Diabetes, while in the US, the figure is 38.4 million.

• Over 49 million Europeans have cardiovascular disease, compared to 16.3 million in the US.

The World Health Organization lists an unhealthy diet as a top risk factor for global mortality and disability.

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The Solution

Several companies are addressing this issue by providing personalized nutritional care services, leveraging technology and expert guidance from registered dietitians.

1. Foodsmart: The company offers a telehealth nutrition solution that connects individuals with personal dietitians. Members can access meal planning, grocery delivery, and a food marketplace tailored to their dietary needs and budget. Recently, Foodsmart raised $10 million to expand its food prescription program, Foodscripts. This initiative partners with health systems like Advocate Health, Memorial Hermann Health System, and Intermountain Health to refer patients to dietitians and provide subsidized meals tailored to specific conditions. Foodsmart aims to make Foodscripts ubiquitous by 2030, transforming how nutrition is integrated into healthcare. Total Funding: $72 million.

2. Season Health: The company matches individuals with board-certified dietitians based on their health goals and conditions. Members receive personalized nutrition consultations, meal plans, and access to a food marketplace. The company recently secured $34 million in funding from investors such as Andreessen Horowitz and CityBlock, underscoring its growing influence in the market.

3. Fay Nutrition: The startup connects individuals with licensed nutritionists covered by their insurance plans. Nutritionists design customized meal plans and provide one-on-one guidance. Fay recently emerged from stealth with $25 million in funding from General Catalyst and Forerunner Ventures. Fay offers a franchise model that empowers registered dietitians to run their practices independently while being covered by insurance. This model has proven especially beneficial for patients on GLP-1 medications like Ozempic, who are required to see dietitians to develop healthy habits.

4. Nourish: The company offers a virtual platform for personalized nutrition coaching from registered dietitians. Members receive meal plans, grocery lists, and ongoing support. Nourish recently raised $35 million in a Series A round led by Index Ventures to expand access to their services and develop AI tools for better personalization and efficiency. This funding will help Nourish grow its network of dietitians to over 1,000 by the end of 2024 and integrate "food as medicine" into their programs.

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Business Models and Revenue Streams

These companies make money through subscription-based models, where members pay a monthly or annual fee for dietitian services, meal plans, and food marketplaces. Some also partner with insurance providers, allowing members to access services at a reduced cost or even for free.

Let's take a closer look at Nourish's numbers:

Key Financial Metrics

• Consultation Fee: $165 per session

• Typical Number of Sessions per Customer: 4 to 5 sessions

  • Revenue per Customer: $660 to $825

Registered Dietitian (RD) Compensation & Benefits

Base Compensation

• Per-Session Rate: $45-$55

  • Annual Earnings for Full-Time RDs (25 sessions per week): $70K-$90K

This is the Nourish Dietitian Pay Calculator

Market Size and Number of Dietitians

In Europe, the nutritional care market is worth €10.2 billion and has over 30,000 registered dietitians. In the U.S., the market is valued at $16.5 billion, with around 93,000 dietitians and nutritionists.

Potential M&A Buzz in Nutritional Care

The nutritional care scene is gearing up for some major shake-ups, driven by the soaring demand for personalized nutrition and the need for scale and tech smarts. Several factors could fuel M&A activity in this space:

• Big Tech Eyeing Deals: Amazon, Google, and Apple are eyeing nutritional startups to weave personalized nutrition into their massive ecosystems. They’ve got the data and reach to revolutionize how nutrition fits into healthcare.

• Telehealth and Digital Health: Companies like Teladoc and Livongo are hungry for nutritional care platforms to beef up their virtual health offerings. Think one-stop virtual care shops that include personalized nutrition.

• Pharma’s New Frontier: Pfizer, Merck, and Novartis are diversifying beyond pills. Buying into nutritional care means offering preventive health solutions alongside meds.

• Retail Giants in the Mix: Walmart, Kroger, and Amazon (via Whole Foods) want to add nutritional services to their online stores and loyalty programs. Imagine personalized nutrition plans right next to your weekly grocery list.

In a nutshell, expect the nutritional care industry to see some serious merging and acquiring. It’s all about blending health, tech, and customer needs in new and exciting ways.

+ Health-tech is good

👉 The Emerging AI Agent Landscape in Healthcare

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📍7 Longevity Clinics leading the way in Europe
👉 Click here to read the full article.

Suggestion? Critiques? Send your feedback in this link or reply to this e-mail.

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P.S. Photo by engin akyurt on Unsplash

What is an AI agent?

Broadly speaking, AI agents are systems designed to make autonomous decisions and take actions based on general instructions from a user. They typically consist of four main components:

1. Powerful Large Language Model (LLM): This component interprets the user’s intent and formulates an action plan based on the objective and available tools.

2. Tools: These extend the core LLM's capabilities, including functions like web search, document retrieval, code execution, and database integration, as well as incorporating other AI models. These tools enable the agent to perform actions such as generating documents, executing database queries, and creating charts.

3. Memory: This includes access to relevant databases (long-term memory) and the ability to retain task-specific information over multiple steps (short-term memory), which is crucial for completing complex action plans.

4. Reflection and Self-Critiquing: Advanced agents possess the ability to identify and correct their own mistakes during execution and adjust their priorities as needed.

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The Evolution from LLMs to Agents

Opportunities with Task-Specific AI Agents

AI Agents tend to perform better when designed for specific domains or narrower tasks. As the landscape evolves, I'm increasingly excited about task- and industry-specific agents. These agents offer tailored solutions that address unique challenges and requirements, helping to overcome common development issues.

For example, obtaining the right information for fact-based decision-making often involves complex workflows. Data usually resides in internal databases and requires analysts to write queries for extraction. Task-specific agents, particularly in data analysis, simplify this process.

They can efficiently search, access, evaluate, and synthesize information, making it easier to answer user questions and make informed decisions.

Healthcare Market Landscape

1. Medical Imaging AI Agents:
   These AI systems assist in analyzing medical images like X-rays, CT scans, and MRI scans for detecting and diagnosing diseases. Some examples are:

   
   -Kheiron Medical Technologies helps doctors find mammogram malignancies, HQ: London, UK. Funding: $22 million

   -Oxipit, a computer vision software startup specializing in medical imaging HQ: Ljubljana, Slovenia. Funding: $6.6 million

   ---

2. AI Agents for Clinical Decision Support:
   These AI tools aid clinicians in making diagnostic and treatment decisions by analyzing patient data. For instance:

• AI agents that predict disease risk and recommend preventive measures

• AI agents that suggest treatment plans based on patient's medical history and test results

e.g. Ada Health, HQ: Berlin, Germany. Funding: $169.8 million

3. AI Agents for Automating Administrative Tasks:
   Companies like HealthForce (HQ: Vienna, Austria. Funding: $1.4 million ) offer AI agents specifically designed to automate administrative workflows in hospitals across Europe, such as:

• Scheduling appointments and managing calendars

• Processing insurance claims and medical billing

• Procurement and inventory management

  
  TORTUS AI also falls into this category. HQ: London, UK. Funding: $4.2 million

  ---

4. AI Agents for Drug Discovery and Development:
   AI agents in this category leverage data and computing power to accelerate drug R&D processes. Some examples are:

   
   -BenevolentAI, HQ: London, UK. Funding: $292 million

   -InSilicoTrials, HQ: Leuven, Belgium. Funding: $37.3 million

   ---

5. AI Agents for Mental Health and Wellness:
   Startups like Unmind (HQ: London, UK, Funding: $63.5 million) and Mindstep (HQ: Copenhagen, Denmark. Funding: $5.7 million) provide AI-powered digital therapeutics platforms for mental health conditions like anxiety, depression, and brain fog. Their AI agents offer personalized interventions such as:

• Cognitive behavioral therapy via chatbots and apps

• Brain training games and exercises tailored to individual needs

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The Evolution

The journey to create effective and widespread autonomous AI Agents is one of ongoing exploration and innovation. By understanding the current landscape, categorizing agents by their focus areas, and closely monitoring their evolution, we can anticipate exciting advancements in autonomous AI technology.

+ Health-tech is good

👉 11 Key Digital Health Trends Shaping Europe in 2024

Other topics you might find interesting 💡

📍 7 Companies Pioneering Health-Tech AI in Spain
👉 Click here to read the full article.

📍7 Longevity Clinics leading the way in Europe
👉 Click here to read the full article.

Suggestion? Critiques? Send your feedback in this link or reply to this e-mail.

This newsletter can impact those around you. Feel free to share it.

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P.S. I used some of the following sources to obtain the data for this article:
(1)European Parliament (2)Prosus (3) EIT (4) Photo by Igor Omilaev on Unsplash

Impressive Market Growth

The digital health market in Europe is expected to reach USD 267.2 billion by 2030. This rapid growth is driven by several factors:

• Rising adoption of digital health services like telemedicine, remote monitoring, and electronic health records by healthcare providers.

• Increasing demand for remote patient monitoring, especially due to shortage of medical professionals.

• Increasing internet and smartphone use, along with government initiatives promoting digital healthcare transformation. In 2019, France launched the 'My Health 2022' plan, which focuses on enhancing eHealth services through improved interoperability, nationwide EHR implementation, AI in healthcare, a healthcare data hub, and telemedicine investment.

  

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Segment Highlights

• Tele-healthcare was the big winner, snagging 43.2% of the revenue in 2023, thanks to the aging population and the push for remote monitoring.

• Diabetes apps took the top spot with a 24.3% revenue share in 2023, as diabetes cases keep climbing.

• In terms of end-use, the patients segment led the market with a revenue share of 34.1% in 2023, driven by the increasing preference for telehealth services among the population.

• The software component segment is expected to grow fastest due to need for efficient workflow management.

Investment Focus Areas

• Artificial intelligence (AI) products and services are likely to attract investor interest and meetings.

• The increasing prevalence of chronic diseases such as diabetes, cardiovascular, and respiratory diseases, among others are accelerating market investment. Cardiovascular disease causes 3.9 million deaths in Europe every year.

• However, investors are cautious about digital therapeutics companies due to regulatory and reimbursement challenges.

• Companies with proven clinical outcomes and return on investment metrics have an advantage in securing funding

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  + Health-tech is good

  

  ---

  

  👉 5 German Health-Tech Startups with Fresh Seed Funding

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  📍"D2C" Health Giant: A Look Inside VIOME Growth Strategy
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  ---

  Suggestion? Critiques? Send your feedback in this link or reply to this e-mail.

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  This newsletter can impact those around you. Feel free to share it.

  Share

  ---

  P.S. I used some of the following sources to obtain the data for this article:
  (1) Yahoo Finance (2) Mordor Intelligence (3) Research and Markets (4) Photo by Quang Tri NGUYEN on Unsplash

  

  
  
  

Germany is a thriving hub for startups, and Berlin shines as its star player. In 2023 alone, 468 startups were founded. With people from 186 nationalities and 49% of startup employees being non-German, Berlin has one of the world's most diverse workforces.

In late 2023, Germany introduced significant financial reforms to support the tech industry. Employees can now defer taxes on stock options until they sell them, and more companies (up to 1,000 employees and $108.7 million in revenue) can now offer these plans. Additionally, new funds such as the $1.76 billion Growth Fund Germany and the DeepTech & Climate Funds are set to take growth-stage companies to new heights.

Berlin is Germany’s startup hotspot:

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Let's Dive into 5 German Startups: From Femtech to Preventive Health, All Recently Funded!

1. Ovom Care

-HQ: Berlin, Germany
-Product: Ovom Care pioneers AI-driven fertility care, using advanced algorithms to personalize treatment decisions for patients. By analyzing historical and real-time patient data, their innovative approach enhances outcomes and affordability. With dynamic pricing and potential reimbursements for unsuccessful pregnancies, Ovom Care removes financial barriers, providing a more supportive journey to parenthood.
-Investment: In April 2024, the company secured a €4.8 million seed funding round, led by Alpha Intelligence Capital and backed by Ananda Impact Ventures and Merantix.

2. AERA Health

-HQ: Munich, Germany
-Product: The startup integrates digital and brick-and-mortar services to pioneer preventive medicine. AERA runs physical treatment centers across Germany, beginning with Munich. These spaces offer a range of services including health checks, ortho-biologics, and longevity medicine.
-Investment: The company secured €4 million in pre-seed funding in 2023. Notable investors in this round include former Amazon Consumer CEO Jeff Wilke, Logitech’s President & CEO Bracken Darrell, Neworld.Global, Korify Capital, and Evoleen.

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3. Likeminded

-HQ: Berlin, Germany
-Product: Likeminded's B2B digital platform aims to offer personalized support for corporate employees, with the goal of preventing overwork and burnout.
-Investment: Back in October, the company shared some exciting news: their seed funding round got a €1.5 million boost. Initially closed at €5.9 million in August 2023, the investors onboard include Heartcore Capital, Holtzbrinck Digital, IBB Ventures, and N&V Capital. Likeminded has now raised a total of €10.9 million across three rounds.

4. theblood

-HQ: Berlin, Germany
-Product: theblood offers a subscription-based service for regular menstrual blood testing, providing insights into cycles, health, and blood. Their main product includes menstrual blood analysis and biomarkers, alongside the development of a non-invasive at-home blood test for monitoring health.
-Investment: theblood has raised a total of €1.2 million in funding over 2 rounds.

5. MindAhead

-HQ: Berlin , Germany
-Product: MindAhead is crafting a cognitive tracking app tailored for the elderly, prioritizing early detection and treatment of cognitive impairment.
-Investment: The company has wrapped up a €500k pre-seed round, spearheaded by RoX Health and joined by OHA Osnabrück Healthcare, Beteiligungs GmbH, CDP Venture Capital, AC75 Startup Accelerator, Moonstone, Ikigai, and several serial business angels.

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👉 The Longevity Supplements Market - Opportunities and Key Players

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📍The $8.8 Billion DTC Genetic Testing Market
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Suggestion? Critiques? Send your feedback in this link or reply to this e-mail. 🙁 😐 😍

This newsletter can impact those around you. Feel free to share it.

Share

P.S. I used some of the following sources to obtain the data for this article:
(1) Startup Genome (2) Crunchbase (3) WellFound (4) Photo by S. Widua on Unsplash

The market for longevity supplements is still relatively new but growing rapidly due to the rising interest in staying healthy and living longer.

Some supplements for longevity, like Resveratrol, Rapamycin, and nicotinamide mononucleotide (NMN), fall under the category of nutraceuticals. These supplements are leading innovations, merging the fields of pharmaceuticals and nutrition, and opening up new market opportunities.

In the nutraceutical market, a variety of players, from general practitioners to specialists, contribute to its dynamic landscape.

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Let's explore how the Longevity Supplement Industry is organized:

• Major Brands and Funding

  1. Elysium Health (New York, USA) - Total funding: $71.2 million

  2. Tru Niagen (California, USA) - Owned by ChromaDex Corp. (NASDAQ: CDXC)

  3. Life Extension (Florida, USA) - Privately owned

  4. Timeline Nutrition (Lausanne, Switzerland) - Total funding: $70 million

  5. Juvenescence (UK and USA) - Total funding: $219 million

  6. AVEA Life (Zug, Switzerland) - Total funding: $7,7 million

  7. Tally Health (New York, USA) - Total funding: $10 million

  8. Novos Labs (New York, USA) - Total funding: $3.2 million

Other notable players include MitoQ, Rejuvant, Quicksilver Scientific, Seneque, Youth & Earth, and Vitalic.

The worldwide market for anti-aging supplements was valued at about $1.1 billion in 2022 and is expected to reach approximately $2.3 billion by 2030.

More companies will likely jump into this market, especially since the top 50 longevity companies raked in over $1 billion in venture funding just in 2020.

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As the market for longevity supplements expands, it's crucial to consider the strategies brands are employing to stay competitive.

• How significant is product differentiation in this context? Well, products stand out by focusing on particular ingredients or compounds that target aging pathways such as NAD+ levels, cellular senescence, and mitochondrial health. Some focus on single ingredients like nicotinamide riboside while others offer multi-ingredient formulations.

• Certainly, breaking into the market isn't a walk in the park. Barriers to entry include high research and development costs, clinical trial requirements, regulatory hurdles, and the challenge of establishing consumer trust in a new product category, giving established brands an edge.

  Additionally, manufacturing costs are elevated due to specialized ingredients, while significant marketing expenditure is essential for consumer education and brand awareness.

How are brands stepping up their game to stay ahead and grow?

Companies are implementing various tactics across pricing behavior, product strategy, marketing strategy, and vertical integration.

Pricing Behavior

• Currently, premium pricing prevails due to high research and development (R&D) and marketing costs. However, with the influx of more players and the achievement of economies of scale, prices may decrease over time.

Product Strategy

• Brands are emphasizing science-backed ingredients, clinical validation, and third-party endorsements to establish credibility. Additionally, there is a growing trend towards personalization based on biomarkers and individual data (I love this one).

Marketing Strategy

• Education on longevity science and ingredient efficacy is deemed crucial for consumer adoption. Brands are utilizing influencer marketing, content marketing, and recommendations from healthcare providers to effectively target audiences.

Vertical Integration

• Some brands, such as Tally Health, are incorporating epigenetic testing services into their offerings to provide personalized longevity programs and recommendations, aligning with recommendations from Andreessen Horowitz. In biohacking, a16z sees two categories: reading and writing, both of which have a strong and weak form. Reading allows people to see what is happening inside their bodies. Reading plus actionability is a strong combination.
  

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Opportunities and Challenges

As the market for longevity supplements keeps changing, it brings both chances and hurdles to the table:

Opportunities

• Getting the Science Right (Clinical Validation): Running solid clinical trials to prove that longevity supplements work in extending healthspan or lifespan could build credibility and drive adoption.

• Targeting Multiple Aging Pathways: Existing supplements primarily focus on a few mechanisms like NAD+ levels and cellular senescence. There is an opportunity to develop supplements targeting other aging hallmarks such as inflammation, epigenetic changes, and proteostasis.

• Making It All About You (Personalization): With advances in omics technologies, personalized longevity supplements tailored to an individual's biological age, genetics, and biomarker profile could be explored.

• Accessibility and Affordability: Efforts to make longevity supplements more affordable and widely available could expand the consumer base and drive widespread adoption.

• Integration with Lifestyle Interventions: Combining longevity supplements with lifestyle interventions like exercise, caloric restriction, and stress management could potentially enhance their effectiveness.

Challenges Ahead

• Navigating Regulations: With the market expanding, longevity supplements might face stricter rules on what they can claim and how they get approved. This could slow down new ideas and product improvements.

• Reputational Risks: Without robust clinical validation, brands could be accused of making unsubstantiated anti-aging claims, damaging credibility and consumer trust.

• Competitive Intensity: More players are likely to enter the market, intensifying competition and potentially leading to price wars and margin erosion.

• Adoption Barriers: High costs and lack of evidence may impede broad consumer acceptance, especially within segments sensitive to pricing.

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👉 8 Food-As-Medicine Startups That Raised $400 Million in Funding

Other topics you might find interesting 💡

📍 7 Emerging Trends in Functional Food
How Healthy Eating Shapes Gen Z & Millennials. 👉 Click here to read the full article.

📍8 Serial Entrepreneurs Building In Health-Tech & Bio-Tech in Europe
👉 Click here to read the full article.

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P.S. I used some of the following sources to obtain the data for this article:
(1)McKinsey (2) PWC (3) Longevity.Technology (4) Crunchbase (5) Zion Market Research (6) a16z (7) Photo by SHAMBHAVI SINGH on Unsplash

Poor nutrition is one of the main causes of chronic diseases, and the food we eat is harming our health:

• Obesity rates have tripled in the last 40 years in the EU.

• Dietary risk factors were linked to 11 million deaths globally in 2017.

• Type 2 diabetes cases are projected to double by 2045
  

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Maintaining a healthy diet might sound simple, but it's actually quite challenging, especially for low-income communities, who are hit hardest by illnesses linked to poor diets. Accessing fresh food continues to be a struggle, especially for them.

New companies using food as medicine are helping people get healthier from the inside. They understand that food plays a significant role in staying well. Some even customize meals for your health needs, like a prescription from a doctor. It's all about preventing, managing, and treating illness.

7 Food-As-Medicine companies have collectively raised $400 million in funding:

In Europe

1.Oviva (Zürich, Switzerland): Oviva is a digital platform serving as a diet and lifestyle coach, bringing together certified dietitians, health systems, and insurers. Oviva has raised a total of $113 million in funding.

2.ZOE (London, UK): ZOE leverages scientific research and advanced AI for personalized nutrition, aiming to improve the health of millions. ZOE has raised a total of $88.7 million in funding over 6 rounds.

3.Lifesum (Stockholm, Sweden): Lifesum is a Swedish digital health startup that helps clients become healthier by using applied psychology and technology. Lifesum has raised a total of $21.7 million in funding.

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In the U.S.

4.Season Health (Texas, US): Season Health is the leading food-as-medicine platform that enables people with chronic conditions such as diabetes and kidney disease to eat well and live well. Combining clinical nutrition care, meal recommendations, education, and food delivery into one comprehensive solution, Season aims to help more people see food as a healthy pleasure and create a world well-fed. Season Health has raised a total of $43.6 million in funding over 4 rounds, with Andreessen Horowitz among its main investors.

5.Foodsmart (California, US): Foodsmart is the largest telehealth network of registered dietitians in the US with a mission to make eating well simple. The company’s telenutrition program, backed by a healthy food marketplace, makes healthy eating personalized, convenient, and affordable. Foodsmart has raised a total of $114.8 million in funding.

6.Bitewell (Colorado, US): Bitewell makes food-as-medicine accessible and actionable for disease prevention and condition management. Bitewell has raised a total of $6 million in funding over 3 rounds. Bitewell secured pre-seed funding from Antler in 2020.

7.Chiyo (NY, US): Chiyo is a femtech firm specializing in maternal nutrition. They provide meal delivery services tailored for fertility, pregnancy, and postpartum stages. Chiyo has secured $3 million in funding.

8.ModifyHealth (Georgia, US): ModifyHealth makes food as medicine simple, effective, and enjoyable for providers and patients. Along with home-delivered, medically tailored meals, ModifyHealth provides dietitian support, remote patient monitoring, and education to ensure sustained benefits. The company partners with providers, payors, employers, and patients to make adopting healthier diets and lifestyles a reality. ModifyHealth has raised a total of $14 million in funding.

Food-As-Medicine in Europe: An Overview

While big food companies promote unhealthy products and big pharmaceutical companies rush to get miracle weight loss drugs approved quickly, turning to food as medicine can help prevent, control, and sometimes even reverse long-lasting illnesses.

However, linking diet to real health results can be challenging. Convincing healthcare plans and skeptical consumers will require companies to conduct clinical trials.

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Other topics you might find interesting 💡

📍 7 Companies Pioneering Health-Tech AI in Spain
Health-Tech in Spain is booming. 👉 Click here to read the full article.

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B2B business models predominate digital health. 👉 Click here to read the full article.

Needing help with Growth Strategies, Fundraising & M&A? Get in touch!

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P.S. I used some of the following sources to obtain the data for this article:
(1)NIH (2) cbs.nl (3) Fitt Insider (4) Techcrunch (5) Dealroom (6) Photo by Brett Jordan on Unsplash

Back in 2005, during my time at Coca Cola's Trainees program, I had the privilege of contributing to a strategic project aimed at identifying potential new beverage categories for the company. My job was to look into functional drinks already popular in the USA and Europe. I was even lucky enough to try many of them :)

One product that really grabbed my attention back then was a French water that supposedly sped-up skin tanning. Since then, I've been passionate about exploring new ideas in functional foods.

These days, how we see nutrition has shifted. It's not just about eating for the sake of filling our stomachs anymore. Now, there's this whole concept of functional health. Fundamentally, functional health is based on the idea that nutrition may be a proactive, purposeful instrument for promoting overall wellness.

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Aligning Consumer Preferences with Emerging Health Trends

To understand consumer preferences, Lifesum surveyed Gen Z and Millennials, giving us a glimpse into how they see functional health options. This report explores the fundamentals of customized nutrition and how it is becoming the cornerstone of success in the field of well-being.

Gen Z and Millennials Are Eating for Functional Health:

• Additionally, 46% showed interest in eating foods for healthier skin, showing they know food can affect how their skin looks and feels.

• The connection between diet and hormonal balance also caught attention, with 43% wanting to eat for better hormone health.

• Lastly, 40% wanted to eat foods that could help them sleep better, which is a common worry in today's busy lives.

1. Functional Snacking and Culinary Experiences: Snacks are getting healthier with energy bars and gut-friendly trail mixes, while restaurants are adding anti-inflammatory ingredients and superfoods to their menus.

2. Cognitive-enhancing Ingredients: Prepare for a blend of food and cognitive health, with omega-3s, antioxidants, and adaptogens to combat stress.

3. Probiotic Growth: Get ready for more probiotic-rich snacks like yogurts and fermented foods, plus probiotic-infused drinks, boosting gut health.

4. Collagen-infused Delicacies: Collagen, popular in skincare, will soon be found in diverse foods like powdered drinks and protein bars, offering joint and skin benefits, blending skincare with nutrition.

5. Adaptogenic Elixirs: Expect adaptogens, known for stress relief, to be found in a wide range of food and drinks like adaptogenic teas and mushroom latte powders.

6. Sleep-Inducing Ingredients: Consumers are increasingly drawn to foods with sleep-enhancing elements like melatonin and magnesium from various sources.

7. Hormone-Balancing Foods: As the push for natural hormone balance grows, anticipate more foods packed with key nutrients like omega-3s, iron, and vitamin D, catering to diverse hormonal needs.
   

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The Impact of the Netflix Series: 'Live to 100: Secrets of the Blue Zones

The desire for a longer and healthier life is widespread among Gen Z and Millennials, positioning them as leaders in the longevity movement. In fact, 51% of them actively engage in activities aimed at promoting healthy aging.

The Functional Beverage Market

The functional beverages market hit nearly $147.5 billion in 2022 and is set to grow to $276.1 billion by 2032.

Big players dominate the market, with the top ten competitors making up almost 43% of it in 2021. This dominance comes from offering a range of products that fit what consumers want and having strong distribution networks.

Top Competitors:

• PepsiCo Inc.: 7.35%

• The Coca-Cola Company: 7.10%

• Red Bull GmbH: 5.77%

• Danone: 4.55%

• Nestle S.A: 4.32%

• Monster Beverage Corporation: 4.05%

• Dr. Pepper Snapple Group: 3.83%

• Fonterra Co-Operative Group Ltd: 2.15%

• Kraft Heinz Company: 1.91%

• Abbott: 1.76%

3 Companies Pioneering Innovative Functional Drinks

1. Ketone-IQ: the company has developed a family of products steeped in the legacy of endurance athletics, designed to function for every day use. Ketone-IQ gives you a boost in clean energy that only specialized ketones can deliver.
   Investment: Ketone-IQ has raised a total of $8.2 million in funding over 3 rounds. Andreessen Horowitz is among its investors

2. Olipop: is a deliciously refreshing tonic that is crafted with prebiotics, botanicals and natural plant fiber to support the microbiome and benefit digestive health.
   Investment: has raised a total of $43.5 million in funding from Monogram Capital Partners, Dwight Funding, Finn Capital Partners and Peter Rahal, founder of RxBar.

3. KetoKare: is a plant-based keto shake designed to help you easily reach and maintain a state of ketosis. Keto Kare emerged as a winner in the Nestlé Health startup challenge last February.
   

Suggestion? Critiques? Send your feedback in this link or reply to this e-mail. 🙁 😐 😍

+ Health-tech is good

Other topics you might find interesting 💡

📍 7 Longevity Clinics leading the way in Europe
Living a Healthier and Longer Life. 👉 Click here to read the full article.

📍The FemTech Revolution
Top Opportunities in Women's Healthcare. 👉 Click here to read the full article.

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The contents of this newsletter have the potential to influence those around you. Feel free to share it.

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P.S. I used some of the following sources to obtain the data for this article:
(1) Lifesum, 2024 State of Healthy Eating and Wellbeing Report (2) AHFES (3) researchandmarkets (4) Techcrunch (5) Photo by Boxed Water Is Better on Unsplash

These three words really speak to me; they sound like exactly the kind of brand I'd want to give a shot. In fact, it's these very pillars that make people really trust and love Hims. The company went public in 2021 through a merger with a SPAC (special purpose acquisition company), with a deal valued at $1.6 billion.

Hims' appeal lies in its strong brand identity, particularly resonating with millennials. Hims has also been entirely “cash pay,” meaning it doesn’t accept insurance. Members pay a subscription of around $20-60 per month to have 24/7 access to online physician consultation and steady supplies of generic medications.

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Expanding a Direct-to-Consumer (D2C) health brand presents unique challenges and risks. Some companies set themselves apart by introducing new features, expanding their product categories, and forming partnerships to improve consumer value.

Let's delve deeper into Hims' growth strategy.

Success comes from executing effectively across four key pillars:

In 2023, 30% of Him’s subscribers used a personalised product, doubling the number from the previous year.

The strategy to attract and retain customers relies on four principles:

1. Consumer-Centric: Focused on meeting consumer needs and desires.

2. Partnerships & Ambassadors: Utilizing celebrity ambassadors and forming partnerships with retailers such as Target and Walgreens.

3. Multi-Channel Development: Engaging in TV advertising and leveraging social media platforms like Instagram and TikTok.

4. Data Security & Privacy: Implementing robust privacy practices to ensure the safety and confidentiality of patient and provider information.

A recurring revenue model lays the groundwork for robust revenue growth and margin expansion, with noteworthy figures to consider:

• 90% recurring revenue from subscription agreements

• A gross margin profile of 75%

• Payback period of less than 1 year

Even more important, the growth in subscribers is propelling revenue expansion.

Over the past 2 years, the average monthly revenue per customer has remained stagnant. It appears that the introduction of new products and services is strategically aimed at retaining customers on the platform and encouraging cross-selling, thereby mitigating churn.

Despite the static average monthly revenue per customer, adoption and retention remain strong, driven by innovative products and services. Now, the company is shifting its focus towards an uncharted territory by expanding into preventive care, with a specific emphasis on preventive cardiovascular health.

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Cardiovascular disease (CVD) is the leading cause of death globally, presenting both a highly complex issue and a substantial market opportunity.

- In the U.S., over $300 billion, or 15% of total health expenditures, is spent on managing and treating CVD.
- In the European Union, CVD costs €282 billion annually, with health and long-term care accounting for €155 billion (55%), approximately 11% of EU healthcare spending.

Clinical studies have shown that erectile dysfunction (ED) can serve as an early indicator of cardiovascular disease (CVD), alongside other risk factors. Leveraging its expertise in sexual health, Hims adopts a "dual-action approach" to address both sexual and heart health concerns. By personalizing treatments based on patient data, platform providers offer tailored solutions for individuals with ED and additional CVD risks, enhancing their awareness and treatment options.

Following consultation, if deemed clinically appropriate, patients receive a customized treatment formulation. This includes various dosages of ingredients from common ED medications and statins, all conveniently combined into a single tablet.

Building on its commitment to innovative health solutions, as a trusted pioneer in health and wellness with over a million platform users, Hims can uniquely facilitate sexual health treatment while identifying and connecting individuals with elevated cardiovascular disease (CVD) risk factors to preventive care. About 30% of Hims customers have factors elevating their CVD risk.

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P.S. I used some of the following sources to obtain the data for this article:
(1) Hims Inc (2) WHO (3) CDC (4) NIH (5) Fortune

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The $1.8 trillion worldwide consumer wellness industry is familiar with trends that come and go; but today, consumers aren't just trying wellness trends blindly; they're asking, "What does science say?

Influencers flooding the consumer scene have brought a mix of wellness info, some reliable, some not. As consumers look to avoid deceptive marketing, healthcare provider advice is back in the spotlight.

In the United States, doctor suggestions rank third in influencing what consumers buy for their health.

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Healthy aging

The demand for products and services promoting healthy aging and longevity is booming, fueled by the rise of preventive medicine, health tech, and anti-aging research. This trend has led to the emergence of Longevity Clinics as a promising business opportunity.

What is a Longevity Clinic?

A longevity clinic aims to boost health and lower the chances of age-related illnesses through various treatments. These clinics, run by licensed medical experts, offer a range of services and products. Some concentrate on spotting age-related diseases early, providing hormone and stem cell therapies, while others introduce cutting-edge treatments like 'anti-aging' supplement plans.

The recent shutdown of the NY longevity clinic Modern Age, after raising $33 million, made clear the challenges these clinics are facing: include standardizing practices, addressing cost disparities, and navigating the variety of clinics offering longevity services.

Clinics typically offer comprehensive tests and personalized recommendations, but concerns arise regarding the reliability of certain assessments like aging clocks and whole-body MRI scans. Furthermore, the proliferation of stem cell treatments raises safety and efficacy issues.

Petr Šrámek, Managing Partner at Longevitytech.fund, outlines what customers can anticipate from a reputable longevity clinic:

• The clinic team includes experts from diverse longevity fields, prioritizing translational science.

• The clinic should actively participate in longevity clinical studies.

• MDs must have long-term experience managing patients with functional and integrative medicine approaches, dealing with modulation of biological pathways related to the roots of different conditions and being educated on the theory and applications of other areas like OMICS, cell biology, nutrition, and physical activity prescription.

• The main focus should be medical interventions to increase healthspan.

• The clinic shouldn't rely solely on "magic" equipment solutions but remain flexible to adopt safer and more effective tools as they emerge in the market.

• The clinic should not offer quick fixes but rather long-term programs.
  

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Several longevity clinics are gaining popularity, let's explore the most relevant ones in Europe:

HOOKE
Locations: (1) London, UK
Management Team: Kate Woolhouse (CEO), Lev Mikheev (Founder)
Team size: 20
Price Range: €8.550 - €63.000

Longevity Center
Locations: (2) Zurich, Switzerland & Warsaw, Poland
Management Team: Joanna Bensz (co-founder,CEO), Prince Michael of Liechtenstein ( co-founder)
Team size: 36

Healthy Longevity Clinic
Locations: (2) Prague, Czech Republic and Florida, USA
CEO: Petr Sramek
Team size: 16

Clinique La Praire
Locations: Lake Geneva, Switzerland
Management Team: Simone Gibertoni (CEO), Adrian Heini (Medical Director)
Team size: 381
Price Range: The starting price for the 1-week program is €50,000.

AYUN
Locations: Zurich, Switzerland
CEO: Francois Casanova
Team size: 7
Price Range: #ND, the clinic is launching in Zurich, Q2 2024.

Lanserhof Lans
Locations: (6) Austria, Denmark, Germany (3), UK
CEO: Christian Harisch
Team size: 131
Price Range: starting at €2,890 (Lanserhof Kur Classic, 7 nights)

Six Senses
Locations: Ibiza, Spain
Management Team: Neil Jacobs (CEO), Dr Tamsin Lewis (Medical Advisor)
Price Range: €500 (1 day) - €4,300 (7 days)


As we wrap up, it's fascinating to think about what's ahead in Longevity. Treatments like gene therapies, cell therapy, and 3D bioprinting hold a lot of promise for the future.

Suggestion? Critiques? Send your feedback in this link or reply to this e-mail. 🙁 😐 😍

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P.S. I used some of the following sources to obtain the data for this article:
(1) MIT Technology Review (2) Longevity.Technology (3) McKinsey (4) Linkedin
(5) Header photo by Johny Georgiadis on Unsplash

Other topics you might find interesting 💡

📍 7 Companies Pioneering Health-Tech AI in Spain
Health-Tech in Spain is booming. 👉 Click here to read the full article.

📍25 Top VC Funds Investing In Health-Tech in Europe (Seed to Series A)
Europe has become a vibrant hub for health technology 👉 Click here to read the full article.

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This led me to search for the different Genetic Tests available on Google, where, I discovered more than 30 options.

The fascination with uncovering one's genetic ancestry or gaining insights into personal health risks through Genetic Testing has become increasingly popular; and direct-to-consumer (DTC) Genetic Testing is very likely to be the entry point into most genomics, as Genetic Testing would be a prerequisite for any further treatment or manipulation in the future.

An example of this is the exclusive partnership established between GSK and 23andMe in 2018. Their focus is on developing new medicines and potential cures, using human genetics as the cornerstone of their research. This partnership garnered significant attention in the industry, signaling the potential future direction it might take.

The Power of Education and Awareness

The MIT Technology Review reports that more than 26 million people in the U.S. have already tried DNA tests. People are getting more curious about their ancestry and genes, thanks to lots of ads on the internet and social media. Big companies like 23andMe and Ancestry spend a lot of money advertising genetic tests directly to consumers to let them know about the benefits.

Furthermore, companies and government agencies are also working to make these tests more common in healthcare, which could help save money on medical bills. This is all helping the market for Genetic Testing grow.

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24% Up

The global market for at-home Genetic Testing reached $1.93 billion in 2023 and is expected to continue growing by 24.4% each year from 2024 to 2030, reaching $8.8 billion. Online platforms were the most popular way to purchase these tests, making up 64.7% of sales in 2023.

Europe Takes the Lead

Europe is predicted to see the quickest growth in the coming years. This growth is because more people are facing genetic conditions, and the technology for Genetic Testing keeps getting better. People are also becoming more aware of and open to personalized treatment options. Plus, government policies that support reimbursement and other helpful efforts have helped the market grow.

Big companies are always working on new technologies to meet the demand for early diagnosis. For example, in January 2023, Unilabs partnered with Ambry Genetics to improve Genetic Testing services in Europe, Latin America, and the Middle East.

DNA Security

Worries about privacy and security with genetic data could hurt the market's growth in the future.

23andMe is facing financial trouble and its stock value has dropped significantly. What's the reason? The company has been criticized for security breaches affecting 6.9 million users. Additionally, it's finding it hard to keep customers interested in its products after they've used the DNA kit just once.

Shares of 23andMe are currently trading at around $0.475. In November, the company was told it broke Nasdaq rules, which say a company's stock price should be above $1. So, they've got about three months (180 days) to boost the price, or they could get kicked off the Nasdaq.

Key Players and Innovations

The market is moderately fragmented, with plenty of medium and big companies making most of the revenue. Let's explore further:

New Players

Nucleus Genomics
HQ: New York, United States
Investment: $17,5M
Product: Nucleus's health app uses whole-genome sequencing (WGS) to find risks for common health problems like heart disease, cancer, and rare genetic disorders. This approach became affordable thanks to dropping sequencing costs in the last 20 years. In 2022, Nucleus got $17,5 million in funding from Alexis Ohanian's Seven Seven Six and Peter Thiel's Founders Fund.

Advancements in technology may eventually lead to the integration of genetic and glycomic analyses for a more comprehensive understanding of biological processes, and this is where GlycanAge plays.

GlycanAge
HQ: Newcastle upon Tyne, United Kingdom
Investment: $4,7M
Product: The startup's technology aims to reveal users' biological age, which reflects how much their bodies have truly aged compared to their chronological age. Users receive a finger prick test kit at home, allowing GlycanAge scientists to analyze biomarkers indicating damage from lifestyle and environment, estimating their biological age. Additionally, users receive personalized consultations with specialists who offer tailored advice on slowing down aging.
Note: GlycanAge doesn’t analyse DNA, the company look at individuals glycobiology, an entirely different layer of molecular complexity that changes how our biology works beyond our genetics and epigenetics.

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Older Players (most of these companies were built 20 years ago)

23andMe
HQ: California, United States
Investment: $1.1billion, Market Cap: $225M
Ancestry
HQ: Utah, United States
Investment: $33M. Acquired by Blackston in 2020 for $4.7B
Myriad Genetics Inc.
HQ: Utah, United States
Investment: $90M, Market Cap: $1.8 billion
Color Health, Inc.
HQ: California, United States
Investment: $482M

Looking Forward

Thanks to advancements in Next-Generation Sequencing (NGS), genome sequencing has become more accessible and affordable. Just twenty years ago, it cost over $20 million to sequence a human genome. Today, companies like Nucleus offer clinical-grade whole-genome tests for as low as $399. Genetic Testing has the potential to alleviate the growing burden of targeted diseases by minimizing the necessity for excessive screenings to detect life-threatening conditions.

+ TechBio is good

P.S. I used some of the following sources to obtain the data for this article:
(1) Grand View Research (2) Yahoo Finance (3) Unilabs (4) Fitt Insider (5) GSK (6) NIH

Other topics you might find interesting 💡

📍 From Sick Care to Preventive Health
7 out of 10 deaths are caused by Chronic Diseases: heart disease, cancer, diabetes, AIDS or other conditions. 👉 Click here to read the full article.

📍61% of Digital Health Companies Pivot from B2C to B2B
B2B business models predominate digital health. 👉 Click here to read the full article.

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It was after I read "How to Change Your Mind" by Michael Pollan that I started thinking about biotechnology and emerging innovations. This got me looking into companies like Atai Life Science and Compass Pathways, which are changing how we treat mental problems like depression, anxiety, and schizophrenia. They use special technology such as Artificial Intelligence (AI) and Machine Learning to find new drugs faster, rethink how we use old ones with more data, and make patient care better with digital treatments.

“Biotechnology is defined as the utilization of biological processes, organisms or systems to produce products that are anticipated to improve human lives.”

From Biotech to TechBio: while traditional Biotech perceives technology as a mere tool for addressing biological issues, TechBio positions technology as the primary driver of biological innovation. Today, with the aid of remarkable enabling technologies, we're unlocking the immense potential of biology to heal, nourish, and sustain our planet.

Now, let's look at some real-life examples of TechBio, categorized by different types of technology:

1. Artificial Intelligence (AI) and Machine Learning:

   • Drug Discovery: Healx, based in Cambridge, UK, applies AI to accelerate drug discovery for rare diseases.

   • Personalized Medicine: Sophia Genetics (Switzerland) offers a data-driven platform that combines AI and ML algorithms to analyze genomic data from patients and provide insights into personalized treatment options for genetic disorders and cancer.

2. Biological Imaging and Sensing:

   • Medical Imaging: Aidence, based in Amsterdam, Netherlands, develops AI-driven medical imaging solutions for radiology departments.

3. Genomics and Gene Editing:

   • CRISPR-Based Gene Editing: CRISPR Therapeutics, headquartered in Zug, Switzerland, focuses on developing CRISPR-based therapies for genetic disorders.

Investment

In recent years, the Biotech public markets have struggled to rebound, with the S&P Biotechnology Select Industry Index plummeting over 50% from its peak in February 2021 to the fourth quarter of 2023. Only 30 Biotechs went public in the first three quarters of 2023, compared to 114 in 2021. Despite this, venture capital (VC) funding has been a vital lifeline for Biotech innovation, remaining robust and even surpassing prepandemic levels.

I got curious and wondered if blockchain could be used to improve biotechnology. To my surprise, I found Decentralized Finance for Biotech.

Decentralising Biotech

The biopharma industry faces challenges in aligning incentives and funding. Academic labs often struggle to secure funding for early career researchers and risky projects.

Platforms like Molecule and VitaDAO address these issues by creating open ecosystems for community-driven research funding. These platforms enable diverse groups to fund, own, and govern therapeutic intellectual property, fostering collaboration and risk-sharing. Patients can choose which projects to fund and later own the treatments developed. This model empowers communities and accelerates impactful research in biotechnology.

Before delving into specifics, let's establish the definition of DAO: DAO is a new way to collectively finance, govern, and share value on the blockchain.

Molecule AG
HQ: Berlin, Germany
Investment: Molecule has raised a total of €18.3 million in funding.
Product: Molecule is a decentralized Biotech protocol, building a web3 marketplace for research-related IP.  The platform and scalable framework for biotech DAOs connects academics and Biotech companies with quick and easy funding, while enabling patient, researcher, and investor communities to directly govern and own research-related IP.
Founder: Tyler Golato founded the company in 2018 together with Paul Kohlhaas.

VitaDAO
HQ: Ottawa, Canada
Investment: VitaDAO has raised a total of €8.4 million in funding, backed By Pfizer and Balaji Srinivasan (CTO Coinbase).
Product: VitaDAO is a decentralized, community-owned collective dedicated to funding and advancing early stage longevity science research. Their mission is to support researchers who are working to pre-empt the onset of age-related diseases, and to bring new therapeutics to market that allow people to live longer, healthier lives.
Founder: VitaDAO was started in 2021 by Tyler Golato of decentralized Biotech protocol Molecule to fund longevity research. Among the main Contributors & Advisors are Vincent Weisser, Eleanor Davies and Paolo Binetti.

The time for solving the world’s most significant problems is now; and science has never been more central to shaping a better future.

+ TechBio is good

P.S. I used some of the following sources to obtain the data for this article:
(1) IOPscience (2) NFX (3) Longevity.Technology (4) McKinsey

Other topics you might find interesting 💡

📍 5 Startups focusing on Preventive Health
7 out of 10 deaths are caused by Chronic Diseases: heart disease, cancer, diabetes, AIDS or other conditions. 👉 Click here to read the full article.

📍5 Top Health Events In Europe In 2024
Innovation, Networking and Impact. 👉 Click here to read the full article.

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Spain, particularly Barcelona, has always held a special place in my heart. From 2008 to 2012, I called Barcelona home, forging strong friendships with fellow entrepreneurs and investors along the way. Intrigued by the health-tech scene, I decided to dig deeper.

The health-tech startup ecosystem in Spain 🇪🇸 is renowned for its excellence, with a diverse range of companies utilizing AI in areas spanning from drug discovery to virtual reality treatments.

Recent funding initiatives are bolstering the ecosystem, as evidenced by Nina Capital's announcement last February of their third financing vehicle worth €50 million. This fund is dedicated to investments ranging from €200,000 to €2 million in early-stage and Series A ventures. Nina Capital has raised more than 300 million euros in five years.

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1. MethinksAI

-HQ: Barcelona, Spain
-Product: MethinksAI primarily concentrates on stroke, which ranks as the second most prevalent cause of death and a significant contributor to disability worldwide. Their primary offering is an artificial intelligence medical imaging software designed to conduct stroke diagnosis, unlocking the potential for stroke treatments from non-contrast CT scans.
-Investment: Methinks has raised a total of €5 million in funding over 3 rounds.

2. Legit.Health

-HQ: Bilbao, Spain
-Product: Legit.Health utilizes computer vision and artificial intelligence technology to facilitate life-saving diagnoses and therapies for skin conditions. Through image recognition and AI-driven recommendations, the company introduces cutting-edge technology to empower both patients and healthcare providers, facilitating improved and expedited clinical decisions.

3. Mediktor

-HQ: Barcelona, Spain
-Product: Mediktor is an advanced AI-based medical assistant that helps patients get the right care they need when they need it. It's backed by solid clinical validation and guides people to the appropriate level of care, making healthcare more accessible and navigation smoother. With its smart AI technology, users can chat naturally in multiple languages. Mediktor's software is versatile and can be seamlessly integrated into various platforms like websites, mobile apps, and desktops. Its clients include health plans, hospitals, telehealth services, and pharmaceutical companies.
-Investment: Mediktor has raised a total of $15.8 million in funding over 3 rounds, investors include Alta Life Sciences, Castel Capital and NAOS.

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4. humanITcare

-HQ: Barcelona, Spain
-Product: The system developed by humanITcare strives to offer enhanced patient monitoring, improved data quality, and streamlined protocols for healthcare providers, all without increasing their workload. This AI-driven, evidence-based solution guarantees accessible, efficient, and effective healthcare for everyone, facilitated by a user-friendly API-based solutions.
-Investment: humanITcare has raised a total of €3.3 million in funding.

5. Quibim

-HQ: Valencia, Spain
-Product: Quibim develops innovative tools aimed at unlocking imaging data to enhance patient outcomes. Their primary focus lies in applying AI techniques to medical images obtained from MRI, CT, PET scans, aiming to reveal new insights that can be translated into actionable predictions for life sciences and healthcare providers.
-Investment: Quibim has raised a total of €17 million in funding, investors include Amadeus Capital Partners, Adara Ventures, Apex Ventures, Partech Partners, Crista Galli Ventures, Tech Transfer UPV and Juan Roig.

6. IOMED

HQ: Barcelona, Spain
Product: IOMED creates software for managing medical records with a focus on efficiently organizing clinical data. Their technology harnesses the capabilities of Artificial Intelligence to extract healthcare data from various sources within hospitals. This includes activating data from both structured and unstructured sources, such as handwritten records.
Investment: IOMED has raised a total of €13.6 million. Key investors include Philips Ventures, XTX Ventures, Adara Ventures, EASO Ventures, and Inveready.

7. Idoven

- HQ: Madrid, Spain
- Product: Idoven is a health technology company pioneering early detection and precision medicine solutions for cardiovascular diseases. Through its AI-powered platform, Idoven significantly enhances the speed, consistency, and accuracy of electrocardiogram (ECG) interpretation. Utilizing robust proprietary AI algorithms compatible with existing ECG devices, the company also endeavors to develop biomarkers for patient identification, risk assessment, prognosis, and monitoring drug cardiac safety.
- Investment: IDOVEN has raised a total of €22.5 million in funding. Key investors include Insight Partners and Northzone.

+ Health-Tech innovation is good

P.S. I used some of the following sources to obtain the data for this article:
(1) Crunchbase (2) Adara Ventures (3) Sifted (4) Nina Capital

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📍 5 Startups focusing on Preventive Health
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📍16 Venture Capitalist Backing Microbiome Tech Startups
The Microbiome Tech Investment Landscape. 👉 Click here to read the full article.

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Doctor: When was the last time you had a health check-up?
Me: Hmm, I think it was about 5 or 6 years ago; was my response.

Unaware, it was too late. On July 15th, 2018, I ended up in the hospital, battling a chronic diverticulitis (missing out the FIFA World Cup final, France vs Croatia).

Every year, around 41 million people worldwide die from chronic diseases, which make up seven out of every ten deaths globally.

Of these deaths, approximately 17 million are classed as premature, meaning people are passing away much earlier than expected on average.

Figures like these highlight the necessity for increased focus on proven preventive healthcare strategies:

- Routine cardiovascular exams alone save tens of thousands of adult lives each year,
- 4 million deaths worldwide are prevented by childhood vaccination every year,
- Preventive health screenings and primary care consultations have also been found to significantly increase life expectancy, particularly among the 30- to 49-year age group.

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Which countries have most improved their life expectancy at birth?

Estonians have experienced the most significant increase in life expectancy, gaining 6.1 years between 2000 and 2021. Following closely are Ireland (+5.8 years), Luxembourg (+4.7 years), Denmark (+4.6 years), and Slovenia (+4.5 years).

Monitoring life expectancy estimates is crucial for assessing societal well-being, and policymakers heavily rely on these trends to shape government policies.

The Dutch government wants everyone to have five more healthy years by 2040, which could lower healthcare costs.

France is also dealing with aging population, putting pressure on its social security system. To tackle this, the French government has passed reforms, facing resistance, to raise the retirement age and encourage people to work longer.

5 Startups focusing on Preventive Health

1. ZOI (France): co-founded by Ismaël Emelien, former special advisor to Emmanuel Macron during the early days of his presidency; the company aims to integrate routine medical checkups with preventive care through a mobile app.
   Investment: Zoi has raised an impressive seed round of €20 million, from business angels exclusively, in 2022.

2. Ancora Health (Netherlands): Founded by Sridhar Kumaraswamy, Rahul Gannamani and Jose Castela Forte in 2019, Ancora Health’s aim is to add more healthy years to society and has developed an approach that differs from regular health programs. It doesn’t only focus on clinical parameters, but also on behaviour and lifestyle support.
   Investment: Dutch banking giant Rabobank, invested €3 million in the digital health startup in 2022.

3. Forward (USA): a startup redesigning the way healthcare is delivered, using all the technologies healthcare has neglected: sensors, mobile, and AI. Forward introduced CarePods, an autonomous, AI-enhanced medical facility (image below). The company was founded in2016 by former executives and engineering leaders from Google and Uber and led by serial-entrepreneur, Adrian Aoun.
   Investment: The company has raised a total amount of €600 million by some of the world's best investors including First Round Capital, Eric Schmidt and Marc Benioff.

4. Neko Health (Sweden): Founded in 2018 by Hjalmar Nilsonne and Daniel Ek (founder/CEO of Spotify), Neko Health believes that with the help of the latest sensor technology and AI, it is possible to create more affordable and thorough examinations that can raise the quality of healthcare and focus on prevention. Investment: Neko Health has raised a total of €60 million in funding.

5. Pernuvo (USA): A Cindy Crawford-backed startup offering whole-body MRIs for €2,292. Prenuvo has created an artificial intelligence-powered alternative to traditional magnetic resonance imaging that can be used to screen and diagnose more than 500 medical conditions, including most solid tumors at Stage 1.
   Investment: The company has raised €64 million in Series A in 2022 led by Felicis and well-known angel investors, including Nest founder Tony Fadell, 23andMe Inc. Chief Executive Anne Wojcicki, and Cindy Crawford.

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I'm really happy to see more startups focusing on preventive health. At the same time, it's concerning to see some of them charging €2500 to €3500 for a full checkup. It seems like only people with deep pockets can afford it.

(But) I'm optimistic that as more people start using these services, prices will come down over time, making them affordable for everyone in the long run.

In conclusion, regular check-ups and routine tests play a vital role in maintaining overall health and well-being. While immediate medical attention is essential for addressing illnesses and injuries, these preventive measures enable physicians to monitor diagnostic readings and detect any underlying health issues early on.

For middle-aged and elderly individuals, in particular, routine tests and exams are indispensable for screening chronic diseases and infections, including cancer, diabetes, and heart disease.

Emphasizing the importance of preventive healthcare is essential for promoting longevity and improving health outcomes across all age groups.

When was the last time you had a health check-up?

+ Health-Tech innovation is good

P.S. I used some of the following sources to obtain the data for this article:
(1) PublicHealth.org (2) Imperial College London (3) Health Holland (4) Techcrunch (5) Eurostat

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The contents of this newsletter have the potential to influence those around you. Feel free to share it.

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Right now, I'm exploring which events to attend in 2024, and I've compiled a list of the top 5 events in Health-Tech that I'm considering.

If you have any recommendations, please feel free to share them with me :)

HLTH Europe 2024
Date: 17 - 20 June 2024
City: Amsterdam
Website: www.europe.hlth.com

Audience breakdown: 70% of the audience is made up of:
- Investors,
- Startups,
- Health technology, solutions & services,
- Health systems & health providers,
- Life sciences, biotech & pharma

Over 300 speakers will take the stage at HLTH Europe, and it appears that there will be a lineup of very interesting speakers, some of them are:

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Entrepreneurs
- Andrea Berchowitz, Co-Founder of Vira Health - UK
- Asima Ahmad, Co-Founder & Chief Medical Officer of Carrot Fertility - USA
- Caroline Mitterdorfer, Co-Founder & CEO of LEVY - Germany

Investors
- Edward Kilphuis, Partner of Sofinnova Partners - France
- Bert-Arjan Millenaar, Founder & CEO of NLC Ventures - Netherlands
- Lucanus Polagnoli, Founding Partner & CEO of Calm/Storm Ventures - Austria

Corporates
- Malin Johansson, VP Global Digital Health Partnerships and Commercialisation at Novo Nordisk - Denmark
- David Evendon-Challis, Head of R&D and Chief Scientific Officer at Bayer Consumer Health - Switzerland
- Ida Luka-Lognone, CEO Health, Board Member at Allianz Partners - France

health.tech Conference 2024
Date: 05 - 06 June 2024
City: Munich
Website: www.health.tech

Audience: hospitals, payers, tech-companies, startups, data companies, and regulators.

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Speakers: a very interesting group of leading people in Health-Tech, some of them are:

Entrepreneurs
Saeju Jeong, Co-Founder and Executive Chairman of Noom - USA
George Hadjigeorgiou, Co-Founder of ZOE - UK

Investors
Julien Hobeika, Partner of EQT Ventures - France
Rob Kniaz, Founding Partner of H Tree Capital - UK

Corporates
Hema Purohit, CTO & Director Healthcare, EMEA at Microsoft - UK

EIT Health Summit
Date: 18 - 19 April 2024
City: Rotterdam
Website: www.summit.eithealth.eu

Digital Healthcare Show
Date: 24 - 25 April 2024
City: London
Website: www.digitalhealthcareshow.com

DMEA 2024
Date: 09 - 11 April 2024
City: Berlin
Website: www.dmea.de

Well, it seems like April and June will be busy months with a lot of networking, innovation and of course some drinks 🍻. If you are planning to attend any of these events, feel free to ping me—I would love to grab a beer with you!

+ Health-Tech innovation is good

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Growing a Direct-to-Consumer (D2C) health brand comes with its own set of challenges and risks. While the D2C model offers many benefits, including direct access to consumers and the ability to build a strong brand, it also has its drawbacks.

Some of these risks to consider are:

1. Competition: Establishing a long term moat to compete against new entrants, such as leveraging network effects.
2. Value Proposition: Crafting a compelling value proposition in the healthcare sector that fosters consumer trust and credibility, particularly challenging for D2C brands without physical presence or professional endorsements.
3. Unit Economics: Developing a business model with clear avenues for monetization.
3.1 Average Order Value (AOV): Focusing on strategies to boost AOV and/or increase purchase frequency.
3.2 Customer Acquisition Cost (CAC): Devising a pragmatic approach to ensure a positive LTV/CAC > 3 ratio
4. Acquisition: building a repeatable and scalable acquisition engine.

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The challenging macroeconomic conditions of last years proved to be a significant obstacle for emerging D2C digital health startups, particularly those in the early stages of their journey, which had to make substantial initial investments in building brand awareness and acquiring customers.

This led me to ponder the strategies that successful D2C Digital Health brands are adopting to sustain their growth. Due to the lack of affordable funding for acquiring customers or a captive audience of pandemic-era buyers, D2C companies had to focus on operational efficiency and the long-term value of their customers. Some companies set themselves apart by introducing new features, expanding their product categories, and forming partnerships to improve consumer value. Others explored opportunities to diversify their revenue streams by engaging in B2B ventures.

In this edition of the newsletter, I'll delve into the growth strategy of Viome. In an upcoming newsletter, I'll delve into the strategies of other companies such as ZOE, Ro.co, and Hims.

Let's explore the growth strategy further:

1. Viome (a Viome Life Sciences Company) - (Washington / US)
Provides a direct-to-consumer healthcare test that analyzes microbial and human gene expressions (mRNA), in order to provide individuals with health insights and the nutrition they need.

The numbers:
Employees: 86
Revenue 2023: €26 million ($29 million in Dealroom)
Total Funding: €161 million and was last valued in 2022 at €312 million (multiple of 12x the revenue, not bad )
Total Test performed: 350,000 from consumers in 106 countries (primarily the U.S., U.K., Canada and Australia)
Pricing: Gut Health Solutions from €73/mo ( Test + Probiotics & Prebiotics)

Growth Strategy: Viome employs diverse channels, both digital and physical, to enhance its expansion.

1. Online:
   -Influencers & Affiliate Marketing: Viome has implemented a User-Generated Content strategy, partnering with celebrities and influencers at the micro and medium-tier levels. The company has capitalized on these endorsements by featuring a dedicated link on its website, offering special discounts to individuals who are introduced to the brand through these influencers. Notable examples include Paris Hilton and actor Tom Hopper. Affiliate Program: Viome offers a 15% commission to its affiliates, with an average order value (AOV) of €165.
   -E-mail Marketing: Taking advantage of the great interest of consumers in VIOME products, the company nurtures them, via email marketing, with relevant content, webinars and events.
   -Performance Marketing: A large amount of the capital raised is allocated to advertising on Facebook, Instagram and other social networks.
   

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   Viome’s Biggest Advocates

2. Offline:
   -Partnerships (Retail): The pharmacy chain CVS plans to introduce Viome tests in approximately 200 stores across the United States. The collaboration works as follows: CVS is purchasing kits in a wider revenue share agreement.

3. Product & Inorganic Growth:
   -Product category expansion: Viome will use its last funding of €80 million to develop new product lines around mouth and dental health (Oral Health Test + Supplements from €63,5/mo).
   -Acquisitions / Inorganic growth: In line with the expansion of new product categories, Viome acquired Naring Health in 2023, enhancing its personalized medicine offerings. Additionally, in 2019, Viome acquired Habit, a prominent personalized nutrition company owned by Campbell Soup Company (NYSE:CPB)
   

   

The truth is that in D2C, the acquisition cost only tends to get worse over time. Increasing CAC, plus robust personnel structures required to handle growth have contributed to the challenge of achieving profitability.

Despite this, there appears to be a promising opportunity for D2C Digital Health companies to diversify their product offerings and minimize these expenses by leveraging their established customer base. For instance, Viome initially focused on gut health tests and supplements, but is now venturing into oral health and longevity solutions. Similarly, companies like Ro.co and Hims have successfully expanded from sexual health to hair growth and mental health services.

+ Health-Tech innovation is good

P.S. I used some of the following sources to obtain the data for this article:
(1) Viome.com (2) Dealroom (3) Crunchbase (4) Techcrunch

Other topics you might find interesting 💡

📍 Europe in 2040: The Future Of Health
Europe needs a fresh perspective on healthcare. 👉 Click here to read the full article.

📍Don't Die: The Rise of Longevity Technology
As people increasingly seek to delay the aging process and extend their healthspan, a notable business opportunity is emerging for companies to introduce innovative products and services in this field. 👉 Click here to read the full article.

The contents of this newsletter have the potential to influence those around you. Feel free to share it.

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10 years ago, a wave of companies emerged, promising to revolutionize health by empowering individuals to monitor their diet, sleep, exercise, and other habits through digital means. However, funding for digital health considerably dwindled between 2022 and 2023, leading many companies to shift their focus from direct-to-consumer (DTC) models to business-to-business (B2B) approaches.

This transition has been notably adopted by industry titans like Calm, CostPlusDrugs, and GoodRx, even before 2022, who now prioritize employer and payer partnerships while continuing their direct-to-consumer efforts.

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A common pitfall among digital health ventures is the application of a strategy cultivated in the tech sector to the healthcare domain, which operates under an entirely different set of dynamics. Unlike consumer tech startups that rapidly introduce a minimum viable product (MVP) and refine it based on consumer feedback, the lean startup approach is unsuitable for the intricate and highly regulated healthcare sector.

Many tech founders initially focus on consumer-oriented products but later realize that healthcare providers and insurers are the primary decision-makers and target customers for their products.

Rock Health conducted research involving 85 digital health startup founders, affirming the prevailing rumors: B2B business models dominate the digital health sector.

Among the startups surveyed:
- 34% began life with a B2C business model.
- Of those who started as B2C companies, 61% changed their business model to either B2B2C (45%) or B2B (16%).
- Only 14% of companies surveyed currently operate under a B2C business model.

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A Better Approach

In healthcare, the old way was to invent something, like a fitness tracker, and then figure out how to use it. But, a new, more effective approach is emerging: one that puts the emphasis on understanding healthcare challenges before creating solutions.

Here's how it works:

1. Spotting the Gaps: Instead of making gadgets and then trying to find a use for them, we start by spotting where healthcare is falling short. Maybe it's something like making sure people take their meds or improving how doctors and patients talk to each other.

2. Getting to Know the Problem: Once we know what's missing, we dive deep into understanding the issue. We look at what's already out there, talk to doctors, patients, and others involved, and really get why things aren't working as well as they could.

3. Setting the Must-Haves: We make a list of the key things our solution needs to do to effectively address the issue. Things like being accurate, not costing a fortune, and fitting into how things already work.

4. Crafting the Fix: With our list in hand, we create a solution from scratch that ticks all the boxes. We keep tweaking and improving until it's fully optimized.

This approach called “need-driven innovation” , makes sure our solutions actually fit the bill and make a real difference in people's lives.


Another Valuable Approach: B2C2B in Digital Health

B2C2B, commonly referred to as the bottom-up approach, has facilitated the entry of companies such as Slack, Zoom, Dropbox, and other software firms into the B2B market. Now, a similar trend is emerging in digital health, as a wave of startups initially market their products and services directly to consumers. Upon reaching a significant user base, they pivot towards engaging insurance companies, employers, and other organizations.

Why choose B2C2B?: While B2C2B can be more complex to execute, it gives startups the power to acquire and engage users directly without first contracting with the payor.

In a nutshell, the B2C2B motion is trying to control the growth through direct patient acquisition. You can build up your own funnels and channels to acquire patients, but then still get paid by the traditional system of payors and employers.

Applying successful tech strategies to healthcare isn't enough. In the era of rapidly growing digital health, the key to success lies in understanding the true needs, crafting innovative solutions that meet stakeholders' core requirements, and proving that the product delivers superior outcomes.

+ Health-Tech innovation is good

P.S. I used some of the following sources to obtain the data for this article:
(1) Rock Health (2) Fast Company (3) Stanford (4) a16z

Other topics that might pique your interest 💡

📍 Europe in 2040: The Future Of Health
Europe needs a fresh perspective on healthcare. 👉 Click here to read the full article.

📍Don't Die: The Rise of Longevity Technology
As people increasingly seek to delay the aging process and extend their healthspan, a notable business opportunity is emerging for companies to introduce innovative products and services in this field. 👉 Click here to read the full article.

The contents of this newsletter have the potential to influence those around you. Feel free to share it.

Share