Berlin-based startup HealthCaters has secured $1.2 million in seed funding, led by Barmenia Next Strategies. This round also saw participation from Venpace, DvH Ventures, and angel investor Philipp Götting. The funds are earmarked for product development, team expansion and making health assessments more accessible in Germany, with plans to venture into other international markets.
About HealthCaters
Co-founded by Lilia Kruse and Tatyana Eliseeva, HealthCaters aims to make disease prevention accessible and affordable. The dual-component product comprises a medical self-screening station and an AI-powered health coaching app. The self-screening station enables individuals to test 27 health indicators, supported by a virtual health assistant. The results are instantly analysed in the app, providing a comprehensive health assessment and evidence-based action points.
Physical screening initiatives
HealthCaters is set to open an offline drop-in location with screening stations in Berlin, and conduct pop-up events across various European cities. This expansion will accommodate anyone seeking a check-up and a personalised health improvement plan, completed within minutes. The startup’s initiative responds to the lengthy waiting periods for doctor appointments in Germany and reluctance from health providers to invest in diagnostic tests.
Corporate engagement
With its app, HealthCaters is aiding companies like Barmenia, Cargill, WeWork, and others in monitoring employees’ health, thus reducing insurance costs. The app’s user-friendly results and actionable recommendations have decreased the necessity for frequent doctor visits. This approach has been highly praised by employees who prefer this simplified self-management over traditional in-person health check-ups. Initially, HealthCaters garnered interest by screening employees on site or enabling self-screening, providing both cost-efficiency and convenience to companies.
Breaking into B2C Market
Despite scepticism from healthcare experts, HealthCaters has successfully tapped into the B2C market. As Eliseeva explained, their affordable pricing contradicts the notion that healthcare will never be privatised in Europe. This initiative empowers individuals to proactively manage their health, a crucial step in avoiding illnesses and chronic diseases.
The recent funding is notable as it comes during an economic downturn. Yet, the visible problem solved by HealthCaters resonated with investors. Eliseeva advises health startups to ensure a good product before splurging on marketing, emphasising the importance of product experience over aggressive marketing.
Future Endeavours
Looking ahead, HealthCaters plans to integrate its tests with wearables, include more health data, and expand to the UK. The startup is about to open a drop-in location in Berlin and continues to hold pop-up events across Europe. Through these steps, HealthCaters is not only bridging a crucial healthcare gap but also challenging the traditional norms of healthcare delivery and management.
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