Norwegian e-healthcare company Eyr secures €1.8M to grow medical consultation services

Oslo-based Eyr, an e-health startup, announced on Thursday, May 25, that it has secured NOK 22M (approximately €1.84M) in a fresh round of funding.

Investinor, an investment firm funded by the Norwegian government, contributed little under half of the capital and is now Eyr’s largest shareholder. TV2 Invest, Aventia, and many previous investors contributed the majority of the remaining funds.

What does Eyr offer?

Founded in 2016 by Karl Martin Lind, Eyr aims to give people better access to healthcare and insight into their own health data. “Eyr builds and delivers tomorrow’s healthcare services!”

The company provides video consultations with doctors and other telehealth services to employees in businesses through insurance agreements (B2B) as well as direct sales to patients (B2C).

Currently, Eyr is operational in the Nordics with doctors and psychologists in Norway, Denmark and Sweden.

According to the company’s website, there are 15 staff members and 30 physicians in Norway and Denmark working to provide health care 24 hours a day, 365 days.

“We are constantly working on finding ways to improve the service and try out new ideas to make health services more accessible to most people,” says the company.

Capital utilisation

Kine Skjervum-Karlsen, CEO and MD of Eyr, says, “With the fresh capital, we will continue to create good, safe and accessible healthcare services. We will continue to focus on growth while steering towards profitable and efficient operations.”

“We aim to be profitable within 14 to 18 months.”

The startup claims to have gained traction in the last six months with considerable growth in the number of digital consultations, particularly in mental health.

Skjervum-Karlsen adds, “There is an unmet need for help from a psychologist. In addition to video talk therapy, we have also developed a self-help programme supported by a psychologist that is well-suited for those with mild to moderate challenges in rumination, anxiety, depression, sleep and low self-esteem.”

“The service has hit the market well, and we expect to reach a level of around 8,000 psychological consultations during the year,” she adds.

Making health services accessible

Investinor says it has an active role in Eyr and investment director Patrick Sandahl believes there is a significant demand in Norway for more “innovative” services in the treatment of mental disorders.

Sandahl says, “The capacity is full and the waiting time is long in many places. No one with mental health problems should wait to get help. We, therefore, need new treatment methods, which can reach more people where they are.”

“Innovative services such as digital platforms and video consultations can play an important role in meeting these challenges.”

Sandahl believes that enterprises like Eyr help to build a more inclusive and accessible healthcare system for more people. “In these areas, Eyr is well positioned to make a positive contribution,” adds Sandahl.