Kaia Health, a Munich, Germany-based digital therapeutics company, raised $10m in Series A funding.
The round was led by Balderton Capital.
The company intends to use the funds to rollout the app in the USA, including a new office in New York City, and fund further clinical studies.
Led by Konstantin Mehl, co-founder and CEO, Kaia Health is the creator of a back pain app, which uses AI and motion tracking technology to tackle chronic health issues including back pain and chronic obstructive pulmonary disease (COPD) and offer patients real-time audio feedback. This empowers and motivates individuals to take control and self-manage their condition with non-pharmacological, digital alternatives from home. The app, which offers users a daily plan which features physical exercises, relaxation techniques and medical educational content, has been adopted by over 250,000 individuals as well as organizations across Europe and the US.
This includes some of Europe’s biggest health insurance companies, such as BARMER, Germany’s largest, which offers the service free to members.