Swedish digital health startup KRY has raised €20 million (£18 million) for its video consultation app that allows patients to talk to doctors from the comfort of their home.
Total investment in KRY, which has the potential to take the strain off hospitals and clinics, now stands at over €25 million (£22 million).
KRY’s app was launched in Sweden in 2014 before expanding to Norway and Spain. It has been used by over 100,000 people, the company claims.
KRY said it will use the money to expand its digital consultation service further across Europe but it stopped short of revealing which countries it will launch in next.
Like rival Babylon, patients can use the iOS and Android app to get a physical examination from one of hundreds of doctors that have registered on the platform.
Prior to the appointment, patients describe their symptoms through the app and upload any relevant photos. They’re also asked a series of questions. During the video call, patients may be issued with prescriptions for medication, advice, or a referral to a specialist.
Each consultation costs around €20 (£18) per session but they can be reimbursed by the public health service in certain countries, such as Sweden.
The series A funding round was led by Accel, while existing investors Index Ventures, Creandum, and Project A also participated.
Sonali de Rycker, who led Accel’s investments in Spotify, told Business Insider that Accel’s stake in the company is over 10%.
“This is the future,” she said. Regarding the investment, de Rycker added: “For us it was all about market timing. Not if, but when.”
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