Swedish telemedicine startup raises $66 Million
Swedish telemedicine startup, KRY provides virtual consultation service to the patients. The company’s total funding has reached $93.1 Million which has enabled KRY to penetrate deeper into digital health market.
Swedish telemedicine companies are widely known for producing a web-based digital system that can be used on mobile or desktop. The telemedicine will be used in both the operating room and the clinic. It is said to be more efficient and equitable. The patients do not have to visit the hospital to get consultation or treatment.
Swedish telemedicine startup KRY has collaborated with other external partners to ensure the technology works for the benefit of the patient. Patients will not have to wait for long to see a specialist because everything will be done through video. KRY has raised $66 million, which is their series B funding to be utilized in the telemedicine sector.
Following a $6.8 million (6.1 million euros) seed round in mid-2016, KRY also enjoyed a $22.6 million (20 million euro) round around this time last year. This puts the company’s total funding at roughly $93.1 million (79.1 million euros).
The patients are to pay per video consultation, but they are considering other means because of markets where medication is free. They are targeting the remote places to ensure that people who live there do not have to travel for long to access medication.
KRY has doctors employed locally to attend to patients who might need special health care in their remote places. They have registered around 430, 000 users where they have already met 400,000 patients especially those with repeat consultations.
The service was able to grow by 740% in Europe last year. More than 3% of care doctors visit Sweden where it has more than 300 clinicians. The patients also receive a prescription for medicine during the video call. They also get advice and referrals to specialists, lab or home test, where they will be given a follow-up appointment.
In an interview, Martin Mignot who is a partner at Index ventures said “KRY offers a unique opportunity to deliver a much-improved healthcare to patients across Europe and reduce the overall costs associated with primary care. KRY has already become a household name in Sweden where regulators have seen first-hand how it benefits patients and allowed KRY to become an integral part of the public healthcare system. We are excited to be working with Johannes and his team to bring KRY to the rest of Europe.
According to one of the specialists at KRY, “We have users from all age groups. Our oldest patient just turned 100 years old. One big user group is families with young children but we see that usage is becoming more even over different age groups.”
The Swedish telemedicine company KRY, want to ensure that anyone who has technology can access medical care from the comfort places. They have enough staffs working around places they are already operating to ensure the patient does not have to wait for long before getting what they need.
Patients with emergencies will be attended quickly before they are referred to a facility and ensure they have proper fast aid and their life has been changed. This is the digital way to go when it comes to medication.
Image credit: KRY