When it comes to healthtech and medtech, Europe is a segment leader in the world as it is bursting with new and innovative ways that help people live longer and healthier. By roping in technology, healthcare, and medical startups improve the quality of healthcare provided to people with earlier diagnosis, reduced hospital stays, and less invasive treatment options.
As per Statista, the global medtech industry is worth $430 billion. In Europe, there are over 27,000 medtech companies and these are located predominantly in Germany, the UK, Italy, Switzerland, France, and Spain among others.
When it comes to innovations in the medtech industry, there are various new techniques such as MRI, laser surgery, 3D printing, wearable technology for health monitoring, Artificial Intelligence, and more. Having said that, here is a list of the innovative medtech startups in Europe all set to revolutionise this industry in 2020.
DNA Script (France)
Founders: Sylvain Gariel, Thomas Ybert, Xavier Godron
Funding: €56 million
Founded year: 2014
Why its hot: DNA Script is a French biotech startup, which is working on a developing a revolutionary DNA synthesis technology. The company believes that DNA synthesis will have a major impact in the future as it will unleash the complete potential of synthetic biology. It finds applications in life sciences including energy, research, health, and a sustainable economy.
Confo Therapeutics (Belgium)
Founder: Jan Steyaert
Funding: €41.3 million
Founded year: 2015
Why its hot: Confo Therapeutics is a drug discovery company involved in building a unique pipeline of GPCR targeted therapeutics that address unmet medical requirements. It employs its proprietary CONFO technology to lock inherently unstable functional conformations of GPRCs as a superior starting point for drug discovery.
Atlantic Therapeutics (Ireland)
CEO: Steve Atkinson
Funding: €43 million
Founded year: 2013
Why its hot: Atlantic Therapeutics develops consumer and professional medical devices, related apps, startups, and connected health technologies to treat various types of incontinence, sexual health dysfunctions, and associated disorders. It does this by modulating nerves and strengthening the muscles of the pelvic floor. The company is moving forward to the next phase where it will help treat people suffering from urinary incontinence.
Ava (Switzerland)
Founders: Lea von Bidder, Pascal Koenig, Peter Stein, Philipp Tholen
Funding: €41.2 million
Founded year: 2014
Why its hot: Ava is a women-centric healthtech company based in Zurich. It uses Artificial Intelligence and big data in women’s health. Its initial product consists of an app, a sensor bracelet, and a powerful backend with self-learning algorithms to interpret hormonal changes and accurate tracking of ovulation. Notably, Ava’s technology has been validated in various clinical trials and its services could be launched in the coming years.
Congenica (UK)
Founders: Eugene Bragin, Matthew Hurles
Funding: €29.4 million
Founded year: 2014
Why its hot: Congenica is a digital health company that enables genomic medicine with the world’s leading clinical decision support platform. This way, it makes it possible to interpret complex genomic data. The company is committed to integrating clinical genomics into healthcare. Congenica makes use of complex genomic data routine ubiquitous and accessible.
Aidence (Netherlands)
Founders: Jeroen van Duffelen, Mark-Jan Harte
Funding: €12.3 million
Founded year: 2015
Why its hot: Aidence is a Dutch medical imaging startup, which uses Artificial Intelligence to help medical professionals detect diseases such as lung cancer. The company has expertise in diagnosing early-stage lung cancer with AI algorithms. It has developed Veye Chest, which is touted to help radiologists diagnose the pulmonary nodules to detect lung cancer.
Coala Life (Sweden)
Founders: Magnus Sorlander, Philip Siberg
Funding: €20.5 million
Founded year: 2004
Why its hot: Coala Life is a Swedish medtech company, which focuses on cardiac diagnostics and mobile health. Coala Life has developed a portfolio of patented products and services enabling digital remote monitoring, analysis, and screening of the heart. This company operates with the vision to help fight against the world’s leading cause of death, which is the heart.
Liva Healthcare (Denmark)
Founders: Kristoffer From, Rune Bech, Carl Brandt
Funding: €12.3m
Founded year: 2014
Why its hot: Liva Healthcare is a healthtech company based in Copenhagen. Ever since its advent, Liva Healthcare has been working hard to improve the lives of people suffering from chronic conditions such as Type 2 diabetes, heart diseases, and obesity or those at risk of the same. It improves their life by driving a positive behaviour change in them.
Oura (Finland)
Founders: Kari Kivela, Markku Koskela, Petteri Lahtela
Funding: €18 million
Founded year: 2013
Why its hot: Oura is a wellness ring, which tracks sleep, respiratory rate, heart rate, activity, and other parameters. It is a metallic ring that has to be worn on the finger similar to any other ring. With its technology, the Oura ring tracks heart and respiratory rates, blood volume, activity level of the wearer, etc. with infrared LEDs, a gyroscope, and a 3D accelerometer.
No Isolation (Norway)
Founders: Karen Dolva, Marius Aabel, Matias Doyle
Funding: €8.8 million
Founded year: 2015
Why its hot: No Isolation based in Oslo aims to minimise loneliness and involuntary social isolation with its communication tools meant to help those who are affected. Its first product dubbed AV1 is a telepresence robot, which acts as eyes, ears, and voice of kids in classroom. It helps both children and adults affected by long-term disabilities and illnesses to indulge in educational and social activities.
Main image picture credits: Oura
Stay tuned to Silicon Canals for more European technology news.