Hospital at home startup Doccla has reportedly secured a funding of £35m ($46m) in a Series B funding round for expanding in Europe.
The expansion builds on its success in the UK and Ireland market, TechCrunch has reported.
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Lakestar led the funding round, with contributions from Elaia as well as several other returning investors.
The new funding follows a $17m Series A round two years prior.
Doccla, which plans to utilise the funds to establish local teams in new European markets, offers a solution to the global hospital bed shortage through technology for remote patient management.
The company is competing with virtual bed technology providers such as Graphnet and Huma.
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By GlobalDataDoccla said it is committed to working with health services, including NHS Trusts and Ireland’s Health Service Executive.
The demand for virtual care solutions, which surged during the Covid-19 pandemic, has led to Doccla adapting its growth strategies for the post-pandemic era, the report noted.
TechCrunch cited an interview of Doccla co-founder Martin Ratz, who said: “It’s in our DNA to be revenue-first.”
The company mentioned that its focus is mainly on practical market entry strategies, such as securing local contracts before expanding.
Doccla’s service provides patients with monitoring devices and a mobile app to collect health data, which is then integrated into electronic health records.
Clinicians access this data via a dashboard, receiving alerts for critical readings. This system offers convenience for healthcare professionals and reassurance for patients.
Doccla’s user-friendly app features large fonts, simple navigation, and options, for instance, in-app messaging and video consultations with clinicians, catering to a broad user base.
“First we sell, and then we enter the market with the help of a customer; that’s exactly what happened in Germany. We are aiming to replicate what we do in the UK [while] recognising that the underpinnings of [newer] markets are very different, particularly in terms of reimbursement,” Ratz told TechCrunch.
