A Swedish digital healthcare startup Kry, said raised $300 million in a mega funding round.
Today, the company announced that the Covid-19 has accelerated the adoption of health tech, and investors are interested in it. The investment, on Tuesday conducted by CPP Investments and Fidelty Investments, values the firm at $2 billion.
The investment is about three times the 700$ million Kry was worth in a 2020 financing round.
The CEO and Co-founder of Kry, Johannes Schidlt said in an interview “Given the size of the market that we’re in, it makes a lot of sense for us to continue to invest heavily in our product and operations. We monetize both software and health care delivery but currently we are continuing to invest. And that’s the reason why we raised because we think it makes a lot of sense for us to continue to invest in our tools and technology.”
In short, the goal is to help deliver healthcare worldwide. Over the past few years, a number of startups have been digitizing proven treatment programs, such as anxiety, insomnia, and chronic conditions. Kry has been one of the several tech start-ups that have benefitted from digital health apps as Covid is still not at rest.
Kry is accelerating its health-tech towards a mega-trend that is likely to remain even after the pandemic ends. The firm has already facilitated over 3$ million medical consultations since its inception in 2015. It is set to expand its geographical footprint and growing its team towards more strategic partnerships. Two multinational investment banks – JP Morgan and Goldman Sachs acted as a lead placement agent for the deal, Kry said.