Twenty one healthtechs featured on the Sifted 250 — a ranking of the 250 fastest-growing tech companies in Europe by historical revenue figures.
Those companies are operating in a sector that is showing signs of a resurgence in 2024.
European healthtechs have raised $11.2bn so far this year, according to Sifted data — an increase on the $9.7bn recorded in comparable data by Dealroom in 2023. With a reporting lag that tends to mean a number of smaller rounds don’t get clocked until further down the line, that number’s only going to rise.
Healthtechs have been cashing in on the growing investor confidence in the sector.
This year Swiss drug development company EraCal Therapeutics raised €235m and Germany’s cancer treatment company ITM Radiopharma picked up €188m. UK-based period tracking app Flo Health became Europe’s first femtech unicorn when it raised a $200m Series C in July and French insurtech Alan picked up a €173m Series F in September.
Many of the world’s most valuable pharma companies also increased their dealmaking into European startups in 2024.
But which healthtechs have recorded the fastest growth over the past few years?
Artios Pharma
HQ: Cambridge, UK
CAGR%: 697.38% (2020-2022)
What it does: Artios Pharma is developing cancer treatments that target DNA Damage Response (DDR) pathways — a natural repair system that fixes problems with DNA that could lead to cancer. Artios is working to develop new cancer treatments with pharma companies like Merck and Novartis.
Peppy Health
HQ: London
CAGR%: 508.32% (2020-2022)
What it does: Peppy Health is an employee benefits platform for gender-specific health issues and support, including menopause, fertility, men’s health and pregnancy. Fortunes have been mixed since the company raised a $45m Series B at the start of 2023, with Peppy making redundancies later that year as revenue growth slowed.
1000Farmacie
HQ: Milan, Italy
CAGR%: 333.10% (2021-2023)
What it does: 1000Farmacie is a platform that allows pharmacies to sell their products via an online marketplace.
Zoe Health
HQ: London
CAGR%: 304.54% (2021-2023)
What it does: Zoe sells microbiome testing kits and a monthly subscription to an app offering recipes, lifestyle and diet advice. It’s one of Europe’s best-funded direct-to-consumer healthtechs but has had an up and down 2024. It raised $15m in July but has also made two rounds of layoffs,
OpenUp
HQ: Amsterdam
CAGR%: 291.36% (2021-2023)
What it does: OpenUp is a mental healthcare platform that offers therapy sessions, classes and self-guided resources direct-to-consumer and as an employee benefit to businesses.
Likeminded
HQ: Berlin
CAGR%: 258.71% (2021-2023)
What it does: Likeminded in a workplace mental health platform, offering therapy sessions and workshops.
DNANudge
HQ: London
CAGR%: 206.98% (2020-2022)
What it does: DNANudge is a genetic testing company that provides a DNA test kit to analyse genetic markers linked to how your body processes nutrients like fat, salt and sugar.
Oxular
HQ: Oxford, UK
CAGR%: 177.79% (2021-2023)
What it does: Oxular is developing treatments for eye disorders.
Doctorsa
HQ: Rome
CAGR%: 148.51% (2021-2023)
What it does: Doctorsa is an online telemedicine platform which facilitates appointments online or in-person with local doctors.
Collective Minds Radiology
HQ: Stockholm
CAGR%: 146.93% (2021-2023)
What it does: Collective Minds Radiology is a workplace collaboration platform for radiologists, including academic and clinical projects.
Read the orginal article: https://sifted.eu/articles/europes-10-fastest-growing-healthtech-startups-by-revenue/
