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TOP 10 MedTech Startups in Europe

European Startups

TOP 10 MedTech Startups in Europe
TOP 10 MedTech Startups in Europe

Medical technology or MedTech has made our lives a bit easier by providing us easier access to healthcare, even from the convenience of our homes, which has become equally necessary in today’s time. The MedTech industry has been continuously evolving, all thanks to the numerous startups being founded to introduce new innovations or making the existing processes more efficient.

Over 675K individuals are employed in the European MedTech industry in 27K companies out of which 95% are SMEs. The European medical devices market has been growing on average by 4.4% per annum over the past 9 years (source-  MedTech Europe).

Let’s have a look at the TOP 10 MedTech Startups in Europe, in this article:

1. Babylon Health

Founders: Ali Parsa

Founding Year: 2013

Headquarters: London, United Kingdom

Funding received: US$ 635.3M

Investors: Kinnevik AB, Hoxton Ventures, VNV Global, Isomer Capital, Saudi Arabia’s Public Investment Fund, Demis Hassabis, Munich Re/ERGO Corporate Venture Fund, Weather Investments

Babylon is an online health service provider that integrates artificial intelligence with the medical proficiency of humans. The MedTech startup provides full entrée to healthcare, such as bespoke health tests, treatment guidance, and face-to-face appointments with a doctor 24/7. With the Babylon app, you can get in touch with a general practitioner within minutes via phone or video call, and ask medical questions through their text service and track your health with their all-inclusive tracking system.

Babylon strives to offer an easily accessible and inexpensive health service to every person on earth.

2. CMR Surgical

Founders: Luke Hares, Mark Slack and Martin Frost

Founding Year: 2014

Headquarters: Cambridge, United Kingdom

Funding received: US$ 384.8M

Investors: Cambridge Innovation Capital, ABB Technology Ventures, LGT Capital Partners, LGT group, Watrium AS, Silk Road Fund, Escala Capital

MedTech startup CMR Surgical develops a cutting-edge surgical robotic system named Versius, for minimal access surgery (MAS). With Versius, the startup aims to offer a next-generation tool that can fit easily into the kind of operating rooms being used nowadays. The benefits of minimal access surgery for patients are well established and involve reduced pain and surgical site infection, along with the reduced probability of other surgical complications. But on the other hand, minimal access surgery is complicated and challenging to perform for a surgeon. Hence, Versius solves this purpose by offering tools that can help surgeons to deliver MAS. The tool works in synchronization with the surgeon to improve patient results and offer value for healthcare providers.

CMR Surgical is on a mission to make minimal access surgery available to all.

3. Doctolib

Founders: Franck Tetzlaff, Ivan Schneider, Jessy Bernal, Stanislas Niox-Chateau, Steve Abou Rjeily, Thomas Landais

Founding Year: 2013

Headquarters: Paris, France

Funding received: US$ 266.7M

Investors: Accel, Bpifrance, AGORANOV, General Atlantic, Eurazeo, Pierre Kosciusko-Morizet, Kerala Ventures, Kernel Investissements, Nicolas Brusson, Bertrand Jelensperger, Antoine Freysz, Olivier Occelli, Ludwig Klitzsch

Doctolib is a digital doctor booking platform that helps one find a specialist doctor nearby and make an appointment. It also provides management software to doctors in Europe. Patients can easily find a nearby health consultant and book doctor or dentist appointments within a few clicks. For doctors, Doctolib offers a comprehensive service to improve bookings management, reduce non-attending and bring new patients to their office.

It has to date worked with 65K health practitioners, present in over 1300 health facilities. The MedTech startup claims 25 million patients visit its website and mobile app every month.

4. Ada Health

Founders: Claire Novorol, Daniel Nathrath and Martin Hirsch

Founding Year: 2011

Headquarters: Berlin, Germany

Funding received: US$ 69.3M

Investors: EASME – EU Executive Agency for SMEs, Vitruvian Partners, June Fund, William Tunstall-Pedoe, Cumberland VC

Ada Health is a global health startup founded by doctors, scientists, and industry forerunners to generate new potentials for personal health. It operates Ada, an end-user self-evaluation app. The Ada app takes the stated symptoms by the user, matches them with symptoms of patients of similar age and gender, and reports the statistical possibility that the patient has a certain condition. It also offers enterprise solutions – Assess, Connect, Handover, and COVID-19.

Ada Health has collaborated with renowned health systems and global non-profit organizations to carry out this idea. It claims to be the No. 1 medical app in 130 countries, having completed over 20 million assessments since its global launch in 2016.

5. Push Doctor

Founders: Eren Ozagir and Matt Elcock

Founding Year: 2013

Headquarters: Manchester, United Kingdom

Funding received: US$ 55.3M

Investors: Partech, Seventure Partners, Oxford Capital Partners, Draper Espirit, ADV, Celeres Investments

Push Doctor is a digital health brand that connects patients to a smart network of thousands of qualified general practitioners in the United Kingdom in as little as 6 minutes on any device. It claims to have been providing nine out of ten patients with a solution during their digital consultation. You can easily speak to a general practitioner using the pushdoctor.co.uk website or via the iOS and Android apps anywhere in the world 24/7 and receive a diagnosis, referral letters, fit for work notes and if needed, prescription medication.

The brand is developing day-by-day to include the widest range of medical, health, wellness and lifestyle products with the main goal of enabling its users to live happier, longer lives.

6. Ava

Founders: Lea von Bidder, Pascal Koenig, Peter Stein and Philipp Tholen

Founding Year: 2014

Headquarters: Zürich, Switzerland

Funding received: US$ 42.4M

Investors: Venture Kick, btov Partners, Zürcher Kantonal Bank, Swisscom Ventures, Alpana Ventures, Polytech Ventures, Wingman Ventures, BlueOcean Ventures, Privilège Management SA, SVC, Boltendahl International Partners, EuroUS Ventures, Global Sources

Medtech startup Ava has developed a patented multi-sensor bracelet, which allows women to accurately and conveniently predict their fertile days. Ava helps women get a profound and precise understanding of their menstrual cycle and health, empowering them to make informed choices for their life.

The startup believes every woman deserves greater control over her welfare and strives to deliver the right tools to maximize their physical and emotional potential.

7. Natural Cycles

Founders: Elina Berglund Scherwitzl and Raoul Scherwitzl

Founding Year: 2013

Headquarters: Stockholm, Sweden

Funding received: US$ 37.5M

Investors: e.ventures, Heartcore Capital, EQT Ventures, Bonnier Ventures, Innuvik Ventures

Natural Cycles offers a contraceptive app leading the progress of digital contraception. Women using the app are required to measure and input their body temperature every day using a basal thermometer. The app calculates the temperature and other applicable data like levels of luteinizing hormone through an algorithm to analyze whether they are fertile or not.

8. Sidekick Health

Founders: Saemundur Oddsson and Tryggvi Thorgeirsson

Founding Year: 2014

Headquarters: Gothenburg, Sweden

Funding received: US$ 30M

Investors: Technology Development Fund, Wellington Partners, Novator, Frumtak Ventures, Asabys Partners

Sidekick Health is a digital therapeutics startup on a mission to help people avert and manage chronic diseases. Its solution combines behavioral statistics, gamification and artificial intelligence to offer an innovative and engaging experience that removes barriers to behavior change and increases the possibilities of health and well-being. They design and provide customized lifestyle change programs (in collaboration with pharmaceutical companies and other organizations) that improve health outcomes and treatment obedience, link clinical experts to patient groups, and deliver data visions into some of the world’s most demanding health challenges.

9. Congenica

Founders: Eugene Bragin, Matthew Hurles, Nick Lench, Philip Beales, Richard Durbin and Thomas Weaver

Founding Year: 2013

Headquarters: Cambridge, United Kingdom

Funding received: £24.7M

Investors: Amadeus Capital Partners, Parkwalk Advisors, Cambridge Innovation Capital, BGI Group, Future Planet Capital, Healthlink Capital, Digital China Health Technologies Corporation (DCHealth)

Founded on ground-breaking research from the Wellcome Trust Sanger Institute, NHS clinicians and regional genetic testing laboratories, Congenica provides a diagnostic decision support platform. Its benchmark clinical genomic analytics platform, Sapientia® provides integration of human DNA sequences with deep clinical phenotyping, thus enabling clinicians to examine the human genome to identify disease-causing variants.

The MedTech startup strives to transform customized patient care through accurate diagnosis, curation of developing knowledge bases, and sustenance in clinical trials and drug development. 

10. Koa Health

Founders: Olive Harrison

Founding Year: 2016

Headquarters: Barcelona, Spain

Funding received: €14.1M

Investors: Wellington Partners, Ancora Finance Group

Koa Health is a digital mental healthcare provider that offers mental health solutions for multiple common mental disorders. It delivers mental health support that is handy, personalized, and effective across a range of conditions. The startup’s other products include Mindset, designed to enable private chat-based mental health support. It creates digital tools and resources for mental health that include prevention, prediction, and treatment.

It also offers a collection of evidence-based activities for fighting stress, sleeping better, supporting relaxation & positive thinking, and enhancing self-confidence.

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