Berlin-based MedKitDoc, a company that enables remote treatment of serious chronic medical conditions through its remote medical care platform, announced that it has secured €7M in its Seed round of funding.
The amount was invested by Vorwerk Ventures and Acton Capital, along with existing investor Picus Capital. In addition, FlixBus founders Daniel Krauss and Jochen Engert also participated in the round.
Speaking on the investment, Sascha Günther, Principal at Vorwerk Ventures, says, “Digitisation has transformed numerous industries, but healthcare is still in the infancy of its transformation. Corona has had a strong impact not only on the number of innovative solutions emerging, but also on regulatory issues that are being resolved combined with an increasing acceptance for digital solutions among the population.”
“MedKitDoc will significantly change the way chronically ill people receive medical care in the future. That’s why we are convinced of the MedKitDoc team and look forward to embarking on this exciting journey together,” adds Günther.
An innovative way to remote medical consultations
MedKitDoc was founded in 2020 by brothers Dr. Benjamin Gutermann (Chief Medical Officer, former emergency physician, and general practitioner) and Dorian Koch (CEO, IT specialist, former VW, and McKinsey), along with Nicolai Nieder (CCO, impact entrepreneur, former McKinsey) with an aim to improve access to medical care for everyone.
The platform provides patients with a device-supported telemedicine service. This makes it possible to provide digital, data-based advice on numerous illnesses, including serious and chronic illnesses.
By combining the MedKitDoc app with a network of trained specialists and their own ‘MedKit’ – a set of certified medical devices, the company claims to provide a new way of remote and timely consultations.
The startup’s app also helps local (family) doctors to examine and treat more patients remotely, preventing unnecessary hospitalisations. By deploying Bluetooth-enabled medical diagnostic devices such as a blood pressure monitor or stethoscope, necessary data is sent to the local doctors via the MedKitDoc app in nearly real-time during the video consultation.
Dorian Koch says, “Regarding our aging population, there is an urging need for innovation to ease a strained healthcare system. Our combination of easy-to-use hard- and software connected to local practitioners compensates for the weaknesses of telemedicine 1.0. Our goal is to provide easy and timely access to high-quality medical care for as many people as possible and regardless of their location.”
MedKitDoc has already established collaborations with over 50 care facilities in Germany including Korian, Deutsche Fachpflege, and Curata.
Funds to help chronically ill patients
The proceeds from this round will help the company to expand its team and further develop the company’s software.
Dorian Koch adds, “We want to offer a one-stop solution for chronically ill patients with an increasing number of diseases and, at the same time, reduce the documentation effort for physicians. For example, all measured values from devices such as the ECG will be automatically integrated into the doctor’s letter during treatment, and the time-consuming documentation during treatment will be significantly reduced.”