Pixacare, a French startup helping caregivers improve the management of skin lesions by offering them cutting-edge tech accessible on smartphones, announced the successful closure of its second fundraising round, securing €3 million. This round was led by Elaia, with significant participation from the French Tech Seed fund managed by Bpifrance, part of the France 2030 initiative.
Continuing their journey with Pixacare, previous investors, including 50 partners and various business angels have renewed their financial commitments. Additionally, a debt instrument complements this round of financing, aimed at propelling the development of Pixacare’s pioneering medical app that automates and enhances wound healing monitoring.
Founded in 2019, Pixacare’s mission is to revolutionize the care trajectory for the 2.5 million individuals in France dealing with chronic wounds. By deploying a secure, collaborative app designed for healthcare professionals, Pixacare is poised to improve the integration of community and hospital care, thereby shortening hospital stays, reducing hospital visits, cutting healthcare costs, and enhancing patient quality of life.
Initial studies underscore the app’s potential: a 33% reduction in healing times, a 55% decrease in follow-up appointments, and a significant cost reduction of 1500 euros per patient over a six-month span.1 Positioning for European leadership in AI-supported wound care monitoring.
With ambitions to lead the European market in AI-supported wound care monitoring, Pixacare plans to utilize this new investment to focus on three strategic areas: expanding its market presence in France, navigating the regulatory landscape for its wound analysis algorithms, and funding clinical trials to ascertain the medico-economic benefits of telemonitoring, aiming for broader acceptance and insurance reimbursement.
“We are immensely grateful for the trust and support from prestigious investment funds, particularly in a challenging economic environment,” shared Matis Ringdal, CEO and co-founder of Pixacare. “This latest investment is a testament to our shared vision and a significant milestone towards achieving our ambitious goals over the next three years. The expertise and global network of Elaia and Bpifrance will be instrumental in our journey to expand our impact beyond France.”
Céline Passedouet, Investment Director at Elaia, said: “We are delighted to announce our investment in Pixacare. The company is positioning itself as a key player in the field of digital health, offering innovative technology for wound-healing analysis and monitoring. Pixacare meets the challenges of securing medical data, improving patient care, and enhancing city-hospital collaboration. That’s why we’re confident in their ability to scale across Europe.”
“After supporting Pixacare with convertible bonds as part of the French Tech Seed initiative, Bpifrance is proud to back its commercial acceleration and ongoing technological innovations. Pixacare has all the makings to become a leading entity in wound healing monitoring,” explained Eva Clerc, Senior Investment Director at Bpifrance. “We were captivated by the platform’s unique user experience and its ability to enhance the care pathway, creating value for both medical professionals and patients.”
Read the orginal article: https://www.eu-startups.com/2024/04/strasbourg-based-pixacare-raises-e3-million-to-automate-wound-care-monitoring/
