EIT Health Headstart winner Climedo Health closes €5 Million seed financing round

HealthTech company Climedo has received €5 million in a seed financing round. The lead investor is pan-European VC firm Nauta Capital. Westtech Ventures from Berlin and existing business angels such as Prof. Dr. Christian Wallwiener (WMC Healthcare) also participated in the round.

Climedo is a digital platform for electronic data capture in decentralized clinical trials. The modular solution for electronic data capture (EDC) enables pharmaceutical and medical device companies to efficiently validate their products and medical innovations in a decentralized and patient-centric way. By digitally connecting all parties involved, such as sponsors, physicians and patients, communication and data capture are simplified significantly.

In the face of the pandemic, Climedo Health made its digital platform available to institutions free of charge in order to help speed up the efforts against the virus and the start-up was later named as “Heroes in the Crisis” for its outstanding commitment in these times. As a Headstart winner in 2020, Climedo Health received a grant of € 50,000 to further develop the solution.

Thanks to the EIT Health Headstart funding, we were able to hire several new developers who helped build our infrastructure to meet the demand for the project,”- reported Catherine Higginson, Marketing & Communications Manager at Climedo Health.

The Munich-based software company will use the new capital for expanding within Europe and for further developing its software solutions. The objective is for the software to become even more patient-centric and to enable end-to-end communication between study coordinators, physicians and patients. There will also be more interfaces, e.g. to telemedicine and wearables.

“Clinical trials are extremely time-consuming and costly for companies,” -says Guillem Sagué, Partner at Nauta Capital. “This needs to change. Digitalizing and decentralizing trials can save massive costs. It also gives small companies access to clinical trials. At the same time, the approval of drugs for rare diseases is often not worthwhile for cost reasons – this is something Climedo aims to change as well. Digitalization has the potential to make processes much more efficient, thereby contributing to the democratization of drug development.”

Co-Founder and CEO Sascha Ritz says about the investment: “We have set ourselves the ambitious goal of becoming the market leader in Europe for patient-centric, electronic data capture by 2024. Nauta Capital is an investor that has recognized the potential in our decentralized platform and the integration of telemedicine into the world of clinical trials. We are pleased to have Nauta Capital by our side to help expand our partner network and fulfil our mission.”

Congratulations to the Climedo Health team for the success and we wish you all the bests to achieve the goals you set for yourselves!