EIT Health-supported start-up, Climedo, has received EUR 5 million in a seed financing round. They plan to use the funds to expand their market reach in Europe and further develop their software solution.
The lead investor is pan-European VC firm Nauta Capital. Westtech Ventures from Berlin also participated in the round.
Climedo, winners of an EIT Health Headstart COVID-19 Grant in 2020, develop a digital platform for electronic data capture in decentralised clinical trials. Their modular solution aims to allow pharmaceutical and medical device companies to validate their products and medical innovations, in a decentralised and patient-centric way.
During the pandemic, Climedo Health enabled remote collection of patient data, giving researchers an affordable and holistic way of capturing and monitoring COVID-19-related clinical data. Because it was web-based, data collection could take place in compliance with social distancing measures.
According to a survey conducted by Informa Connect in 2021, decentralised trials are faster than conventional trials, saving respondents around three months on average. Climedo aims to further increase the efficiency of decentralised clinical trials, by simplifying communication and data capture. Their solution aims to achieve this by digitally connecting all parties involved, such as sponsors, physicians, and patients.
Climedo developed their solutions in close cooperation with leading European hospitals, including the Berlin Charité. The digital health start-up was founded in 2017 by Sascha Ritz, Dragan Mileski and Veronika Schweighart and is based in Munich.
"We have set ourselves the ambitious goal of becoming the market leader in Europe for patient-centric, electronic data capture by 2024.”
- Sascha Ritz, Co-founder and CEO of Climedo