Patient-monitoring software dev Kaiku Health raises $5m

Finnish medtech firm Kaiku Health said it has raised $5.4 million (€4.4 million) in a new round of funding to support its patient monitoring software.

The round was led by Debiopharm Innovation Fund SA and joined by newly invested Prodeko Ventures and existing investors Reaktor Ventures, Metsola Ventures and Athensmed, the company said.

“We are excited about the impact digital technologies will have on the patient journey and are particularly enthusiastic to help take the digital therapeutic approach in oncology out of the lab and onto the market where the benefits of this high frequency monitoring can be expected to bring real outcomes improvement,” Debiopharm Innovation Fund CEO Tanja Dowe said in a prepared release.

“We have studied the Finnish digital health sector thoroughly and found it extremely interesting from an investor’s point of view. The Kaiku Health team impressed us with its strong technological know-how, for instance in the use of artificial intelligence. Kaiku Health has strong international customer references and a broad user-base for a young health-tech company,” TESI investment manager Joni Karsikas said in a press release.

Kaiku Health said it is producing patient monitoring software with a focus on oncology and tracking the effectiveness of therapies through the analysis of patient-reported data.

Funding will be used to support international expansion and to continue development of its digital therapeutics products, including clinical trials.

“We have seen the significant positive impact our patient monitoring platform can have on people’s health. This funding allows us to provide our platform to a growing number of healthcare providers and patients internationally. It is important that our investors also bring an extraordinary understanding of healthcare, life sciences and digitalization,” Kaiku Health CEO & co-founder Lauri Sippola said in a prepared statement.

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