Munich-headquartered XO Life, a digital health startup, has just secured €7 million in a funding round led by Sandwater (which backed FarmInsect and 1X Technologies)and Grazia Equity. The round also saw participation from Vi Partners and Bayern Kapital and existing investors such as Aescuvest, Winning Mindset Ventures and Isartal Ventures.
The investment will allow XO Life to accelerate its growth and international expansion plans for its ImpactMonitor platform. This is a unique meta-platform set to redefine digital patient support.
“This investment will enable us to advance our technology and expand internationally. Having proven our success in the German market, we are eager to address global health challenges and bring our innovative solutions to a wider audience,” said Dr. Friderike Bruchmann, Co-Founder and CEO of XO Life.
What change does it bring?
Patients have a need for information and communication when they receive a diagnosis or medication. Reportedly, 70% of patients research online at least once a week, with Google and Facebook being the first choice. However, online content is often optimised for search engines and user searches for advertisement. Only 8 out of 10 patients trust online information and they feel left alone and uncertain.
This is where the German digital health startup XO Life comes into the picture.
What does the company do?
Led by Dr. Friderike Bruchmann, XO Life has developed a meta-platform which serves as a digital companion for patients with regard to their medications, products, therapies and diseases. The ImpactMonitor platform, for digital product and therapy support for patients.
With this platform, patients get access to verified medical and health-related content, record their health and therapy progress, receive personalised insights and medical support from experts. In addition, they can exchange information with other patients
Investors’ views
Morten E. Iversen, Partner at Sandwater, explained: “We are enthusiastic about the unique opportunities and possibilities of XO Life’s meta-platform. We are convinced that the ImpactMonitor platform will fill an important gap in healthcare by providing comprehensive health information and patient support across Europe and beyond.”
Jochen Klüppel, Partner at Grazia Equity, emphasised: “XO Life has developed and built an impressive digital meta-platform. Backed by a strong VC consortium, the team, which has technical expertise in medicine, natural sciences and information technology and brings together talent from more than 13 nations, can take the ImpactMonitor platform to the next level. We are relying on the best of the best to revolutionise an entire industry!”
