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Swiss scaleup Oviva secures £58M to expand its digital diabetes treatment across UK

Oviva

In Europe alone, more than 300 million people live with health challenges that are either triggered by diet or can be optimised through personalised dietary changes. Only a small fraction of the 300 million are offered digital care.

Based out of Zurich, Oviva aims to help people on a larger scale to lead healthier lives. Oviva is a digital health scaleup that provides diet and lifestyle coaching to people who deal with diet-related health challenges.

Raised £58M

Recently, the Swiss company secured $80 million (approx £58.1 million) in Series C funding co-led by Sofina and Temasek. This new funding round brings the total amount raised by the company to $115 million (approx £83.6 million).

Other existing investors like UK’s AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and several angel investors, participated.

How the funding will be used?

The digital health company is planning to use the funding to scale its technology and make it more accessible to a wider range of people by growing its team to 800 employees by the end of 2022.

The company also has plans to foster Oviva’s presence in existing and new markets, as well as looking at potential M&A opportunities to further grow the business.

“People growth across all functions will be a key focus over the next few months,” Kai Eberhardt, CEO, and co-founder of Oviva points out. “On the one hand, we are keen to enable existing employees to take over more responsibility. And, on the other hand, we are searching for new talent to join us on our journey to help our existing and new patients achieve better health and well-being.”

Empowering people to lead a healthy life

Founded in 2014 by Kai Eberhardt (CEO), Manuel Baumann (CTO), and Mark Jenkins (UK Managing Partner & Medical Director), Oviva aims to empower people to change their diet-related habits by combining individual coaching with an intuitive app and solely hiring certified dietitians.

Their solution was to combine personal advice from a dietitian with a smart app that people use to record relevant information such as meals, physical activity, or weight.

Helped over 200,000 people

To date, the business has helped over 200,000 people with diet-related challenges, has formed over 5,000 partnerships with health systems, insurers and doctors. The company has operations across Europe, including in the UK, Germany, Switzerland, and France.

Harold Boël, CEO of Sofina, says: “We see great potential in Oviva. Its solution is an example of how major healthcare and societal issues like diabetes can be addressed by the application of digital solutions, which is a topic our healthcare sector team has a strong conviction for. Oviva has already made big steps in the right direction in recent years and we believe that this was just the beginning.”