Holland Venture backs MedAngel

Oost NL is the fund manager of the Innovation and Energy Fund of the province of Gelderland. The latter has invested in the startup previously.

Holland Venture invested via its Holland Venture Health Innovation Fund vehicle, which provides €100,000-2m tickets in companies operating in the Dutch healthcare sector.

The backing of Holland Venture and Oost NL will help MedAngel to expand in the US and Europe. 

Company
Founded in 2015 and based in Nijmegen, MedAngel has developed an app that, together with a small sensor, enables users to monitor the temperature of their medications. Some drugs can lose their effectiveness when stored outside of the recommended temperature range, so the app helps users monitor the effectiveness of their drugs.

MedAngel One is being sold through Amazon in Europe and the US, and is available in the US-based pharmacy chain CVS. The company has been generating revenues through their web shop and Amazon product sales since 2017, a spokesperson for Holland Ventures told Unquote. 

People
MedAngel – Amin Zayani (founder, director).

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• Topics
• Expansion
• Benelux
• Consumer
• Netherlands