Optum Vetures et al. back $26m series-B for Kaia Health

Harriet Matthews
19 June 2020

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Optum Ventures, Idinvest and Capital300 have led a $26m funding round for Germany-based online rehabilitation and therapy provider Kaia Health.

Existing investors Balderton Capital, Heartcore Capital and Symphony Ventures also backed the round.

Kaia plans to use the fresh capital to launch new therapies, including its therapy programme for knee and hip osteoarthritis. It launched its chronic obstructive pulmonary disease (COPD) therapy in April 2020. The company also plans to hire more staff for its product development and technology teams.

New investor Idinvest is currently deploying equity from Idinvest Digital Fund III. The vehicle held a final close in October 2019 on €350m. The fund invests €3-10m per company, targeting series-A and series-B rounds.

Austria-based Capital300 generally invests in series-A rounds for Europe-based technology companies that intend to expand internationally, investing more than $1m per round along with other VC investors.

Previous funding
In June 2016, 42Cap and Otto Capital led a $4m seed round for Kaia.

Balderton led a $10m round for the company in January 2019, investing via Balderton VI, which held a final close in November 2017 on $375m. In September 2019, Optum led a $8m round for Kaia.

Company
Kaia designs and provides online therapies to treat and provide rehabilitation for chronic conditions including musculoskeletal pain and COPD. The AI-based platform monitors and analyses its users' movements to offer instructions, tracking 23 key points in the body. Kaia's app has 400,000 users.

The company was founded in 2016 and is based in Munich, with an additional office in New York. It has 67 employees, according to LinkedIn.

People
Kaia Health – Konstantin Mehl (founder, CEO).
Optum Ventures – Heather Roxborough (partner).
Idinvest – Antoine Zins (venture capital investor); Matthieu Baret (managing partner).
Capital300 – Peter Lasinger, Roman Scharf (partners).
Balderton Capital – James Wise (partner).
Heartcore Capital – Christian Jepsen (partner).