Munich-based healthcare startup Kaia Health has secured a €9 million investment. The funds will be used to accelerate its US expansion.
Kaia Health is developing an app that aims to combat chronic back pain. The lead investor in the current financing round is London-based investor Balderton Capital. Existing investors, including Munich-based 42 Cap, are participating in the round. Kaia Health has now raised a total of €12 million. The startup plans to use the money, among other things, to expand its business in the US, where it already has an office. Kaia Health was founded in 2016 by Konstantin Mehl and Manuel Thurner, who previously founded the delivery service startup Foodora.
“Individual training with Kaia is easy to use”
The Munich-based app assists users with videos for specific exercises that, when performed regularly, are said to significantly reduce back pain. Some health insurance companies are already reimbursing their insured members for the app's fees.. Mani Rafii, board member at Barmer, says:
"We must address a widespread ailment like back pain with easily accessible and effective care options. Individual training with 'Kaia' is straightforward to use. Relaxation sessions and information modules can be used at home or on the go, making holistic therapy ideally integrated into everyday life."
The success of training with the app has been scientifically studied and has been proven to relieve pain.
