Oviva Secures $21M Series B Funding to Advance Personalized Digital Diabetes Management Platform

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media that UK health tech startup Oviva has announced the completion of a $21 million Series B financing round. The round was led by MTIP and Earlybird, with participation from AlbionVC, F-Prime Capital, Eight Roads Ventures, and Partech.

Oviva stated that the funds from this financing round will be used to further develop its digital diabetes management platform and continue expanding its business operations in the European market.

Oviva, founded in 2013 and headquartered in London, UK, is a digital health service provider. Its core offerings include diabetes prevention, diabetes treatment, diabetes remission, pediatric allergy management, adult nutritional support, and healthy weight loss. Since its inception, Oviva has been committed to managing customers’ daily lifestyles, such as diet and living habits, through its digital platform, and providing digital health solutions to help them achieve goals like weight loss and blood glucose control in a safe and healthy manner.

The Oviva platform features a team of professional healthcare experts, academics, clinicians, and health coaches who provide clients with one-on-one specialized treatment and care services. With client consent, physicians transmit client information and diagnostic reports to the Oviva platform, which then delivers services by inviting clients to download the company’s mobile application or by contacting them via telephone. Typically, personalized treatment and care plans are developed based on the client’s medical condition and local reimbursement policies, ensuring a low-cost, high-quality therapeutic experience. As part of their “behavior change journey,” clients can also schedule video consultations with dietitians, access video courses, and utilize additional resources designed to support disease management.

To date, Oviva has treated 90,000 patients in the United Kingdom, Germany, France, Switzerland, and the United Arab Emirates.

Oviva CEO and Co-Founder Kai Eberhardt stated, “The new financing enables us to rapidly roll out our unique and effective solution to a large patient population across Europe, and to further develop the underlying technology to better address patient needs.”

Christoph Ruedig, Partner at AlbionVC, stated, “Despite compelling evidence that digital therapeutics improve patient attendance and outcomes while reducing healthcare system costs, investment in the digital health sector in Europe remains negligible compared to the United States. We are delighted to support Oviva’s accelerated expansion across Europe.”

Previously, Oviva secured three rounds of financing. It completed its Series A funding on January 1, 2015, and raised $12 million in a subsequent Series A round on November 20, 2017. The company also obtained financing in 2016, but the specific round and amount were not disclosed.

MTIP is a Swiss venture capital firm founded in 2014, with a focus on the healthcare sector. The company partners with innovative companies in the fields of digital health, medical technology, and healthcare services to create cost-effective and socially responsible solutions that improve patient care. Its goal is to help talented entrepreneurs build sustainable businesses with clear competitive advantages.

Earlybird, established in 1997, is a venture capital firm specializing in innovative technology. The company primarily provides funding and strategic guidance to European digital technology and healthcare enterprises, managing assets exceeding €1 billion.

AlbionVC, established in 1996 and headquartered in London, UK, is a venture capital firm. As the technology investment arm of Albion Capital Group LLP, it boasts 20 years of investment experience.

F-Prime Capital is a global venture capital firm headquartered in Massachusetts. Founded in 1946, the firm primarily invests in the healthcare and medical technology sectors. As one of the world’s largest asset managers, it oversees more than $2 trillion in assets under management.

Eight Roads Ventures is a venture capital firm founded in 1994, headquartered in India, with offices in China, Japan, and the United Kingdom. Eight Roads is a wholly owned investment arm of Fidelity International Limited, formerly known as Fidelity Growth Partners.

Partech is a global investment firm founded in 1982 and headquartered in the United States. It is dedicated to providing businesses and consumers with a broad range of technology and business solutions, including software, digital brands, and hardware and deep tech across all major industries. Partech holds a prominent international presence, with offices in San Francisco, Paris, Berlin, and Dakar. The firm currently manages approximately $1.45 billion in assets across five independent funds.

(Compiled by Yang Xiaohui)