Munich based, health startup Kaia Health, which offers an app that tap artificial intelligence (AI) and motion-tracking technology for the treatment of chronic back pain, has raised 10 million US-Dollar in a financing round led by Balderton Capital; alongside Balderton Capital existing shareholders such as the Munich VC 42 Cap and several Business Angels invested. The International law firm Taylor Wessing, led by Berlin partner Norman Röchert, advised Balderton Capital on all legal aspects of the financing round.
The investment shall be used, among other things, to expand the US business activities of Kaia Health, which already opened a second office in New York last year. The team is expected to grow from the current total of 25 to 50 employees by the end of the year.
Balderton Capital is one of Europe's best-known and largest (early stage) venture capitalists with a focus on European technology companies and founders building global companies. London based Balderton Capital currently manages $ 2.6 billion and has made investments in over 100 companies since the year 2000.
Since launching in 2016, Kaia Health has created scientifically-validated digital treatments for a range of disorders including back pain and COPD. Kaia’s back pain app has been rapidly adopted by over 250,000 individuals as well as organizations across Europe and the US. This includes some of Europe's biggest health insurance companies, such as BARMER, Germany’s largest, which offers the service free to members.
Legal Advisors Balderton Capital:
Taylor Wessing: Lead Dr. Norman Röchert (Partner), Christian Ahrendt (Associate), both Corporate / Venture Capital, Paul Voigt (Salary Partner), Wiebke Reuter (Associate) both Technology, Media & Telecoms, Volker Herrmann (Salary Partner, Commercial), Nico Jänicke (Salary Partner), Julian Pier (Associate) both Employment, Pensions & Mobility, all Berlin, Karolina Lange (Salary Partner, Dusseldorf), Dr. Andrea Sautter (Associate, Munich), both Healthcare