Kaia Health raises $10m for the treatment of chronic pain conditions
Kaia Health, has announced it has raised $10 million in a Series A round led by Balderton Capital to tackle some of the world’s most urgent health challenges, including a range of chronic conditions. The investment will be used to support Kaia Health’s US rollout, including a new office in New York City, and fund further clinical studies.
Kaia Health develops innovative machine learning and computer vision technology and works with medical experts to create a home-based, affordable and clinically-validated alternative to painkillers, delivered through a smartphone. The app offers users a daily plan which features physical exercises, relaxation techniques and medical educational content.
Additionally, therapy can be tailored for each user via a proprietary algorithm which adapts the exercise program to that individual’s input. Patent-pending motion tracking technology monitors and provides real-time audio feedback on patients’ exercise performance. Uniquely, Kaia’s app informs users in natural language if they’re performing exercises correctly, and how to improve them - without requiring any extra hardware.
Konstantin Mehl, co-founder and CEO of Kaia Health, says: ‘Over the last twelve months, we’ve demonstrated a universal, unmet need for affordable and accessible digital therapy products, such as our world’s first computer vision-powered back pain app. These improve treatment paths for patients and reduce costs for payers in healthcare around the globe. Balderton’s investment will support the next stage of our journey, as we expand across the US, undertake further clinical studies and cement our position as a global leader in the digital healthcare market.’
James Wise, Partner at Balderton Capital adds: ‘Providing high-quality and affordable health care for everyone is an urgent issue. Kaia Health is helping to tackle this through its revolutionary technology, which we believe could offer millions of chronic-pain sufferersbest-in-class clinical solutions from the comfort of their own homes. We look forward to being able to support Kaia on their mission to put treatment and pain management into the hands of patients and improve lives.’
Kaia Health is a member of the Digital Therapeutics Alliance, an association of international manufacturers for digital therapeutic products which works to expand access to high quality, evidence-based digital therapeutics to improve outcomes.