UK health-tech startup PocDoc has announced the successful completion of a €5.9 million pre-A funding round, marking the reportedly largest raise at this stage for a UK digital diagnostics company. The investment round was led by MMC Ventures, Molten VC, and Simplyhealth Ventures, with participation from KHP Ventures, the first NHS-anchored venture fund.
Founded in 2020, PocDoc aims to revolutionise access to cardiovascular, metabolic, and renal disease screenings through its proprietary smartphone-based technology. The platform enables patients to perform rapid diagnostic tests in workplaces, communities, and at home, delivering fast results.
Steve Roest, CEO and Co-founder of PocDoc, highlighted the significance of the investment: “Today’s announcement of our heavily oversubscribed investment round is a major endorsement of our incredible technology and our journey to date […] Prevention is the lifeblood of our business. Through our screening technology we believe we can drive a fundamental shift in how we treat chronic diseases, helping people detect problems earlier and faster, get treatment sooner, and, in doing so, reduce the burden on under pressure health services […] We have new tests for metabolic, kidney and whole body health in the pipeline, and we’ll be scaling into new international markets next year.”
The funding will support PocDoc’s rapid growth, which has been propelled by partnerships with the NHS and private sector entities such as Asda, Pharmacy2U, and Lincolnshire Co-op Pharmacy. The company’s flagship service, the ‘Healthy Heart Check,’ allows patients to conduct cardiovascular screenings and view results via the NHS app. According to PocDoc, tens of thousands of patients have used the service, with 97% reporting they would recommend it to family and friends.
PocDoc’s technology aligns with the NHS’s strategic priorities to shift from analogue to digital, hospital to home care, and reactive care to prevention. Studies indicate that rapid screening solutions for chronic conditions like cardiovascular disease could save the NHS £27 billion over the next decade and prevent up to 1 million heart attacks and strokes annually.
Tim Irish, Partner at KHP Ventures, underscored the company’s potential: “At KHP Ventures, our focus is on investing in innovators and technologies that are going to deliver the transformation required to deliver the best possible outcomes for patients, staff and health systems, starting with the NHS. PocDoc is demonstrating excellent traction and we’re looking forward to working with Steve, Vlad, Kiran, and the team on the next phase of their growth journey.”
Read the orginal article: https://www.eu-startups.com/2024/11/cambridge-based-pocdoc-raises-e5-9-million-in-pre-a-funding-for-digital-diagnostics/
