HealthTech startup Kranus Health raises Series‑A to USD 15 million.
Berlin / Munich / Paris, October 02, 2023 — Kranus Health, the digital health company specializing in therapeutic concepts in urology, announces an expansion of its Series A to a total of $15 million. The financing round is led by new investor SwissHealth Ventures and existing investor Karista. All other existing backers (HTGF, Wenvest and A Round Capital) also participated again in the financing. With the new capital, Kranus Health, founded in 2020, is now one of the best-funded health tech startups in Germany. The funds will be used primarily for internationalization.
Kranus Health mission is to revolutionize the field of urology, with the help of technological innovations. The main goal is to facilitate access to effective therapies for urological diseases. The company is therefore developing digital solutions for the treatment of a wide range of urological diseases.
“Developing therapies that can be reimbursed by health insurers will make quality health care accessible and affordable for all. Thanks to innovative and integrative therapy approaches, Kranus Health closes the care gap in urology and offers a cause-oriented solution for patients and physicians,” says Prof. Dr. Kurt Miller, former Medical Director of the Clinic for Urology at the Charité in Berlin.
With Kranus Edera, the company has already launched the first digital health application (DiGA) as a fully reimbursable “app on prescription” for the treatment of erection problems and their causes. A study at Münster University Hospital has confirmed the therapeutic approach. The results of the study indicate an improvement in erectile dysfunction and quality of life. Kranus Edara offers a scientifically proven option besides drugs like Viagra. Another product — Kranus Lutera — will also be reimbursable early next year and fills a major gap in the treatment of benign prostatic hyperplasia (BPH). Additional urologic therapies for men and women are currently being planned.
The fresh money will now be used to expand into other markets outside Germany. Back in June, Kranus Health expanded its presence in France by opening its third office in Paris. France is the second largest healthcare market in the EU after Germany (estimated at 281 billion euros).
“We believe that now is the right time for digital health models to go global. The EU is a pioneer in integrated care offerings, which are also gaining ground internationally,” explains Jens Nörtershäuser, co-founder and co-CEO of Kranus Health.
SwissHealth Ventures is participating as a new investor. With the independent SwissHealth Ventures AG, the Swiss health insurer CSS has created the necessary structures to invest in innovative startups in the healthcare sector.
“Our belief in Kranus Health’s approach to integrated urologic care aligns perfectly with our mission to drive transformative change in healthcare and improve its accessibility and effectiveness for all,” said Philomena Colatrella, CEO of CSS, on the reason for the partnership.
“We are very proud of the successes of the past year: we were able to convince hundreds of urologists to permanently integrate us into their treatment plans, helping more than thousands of patients. In addition, we have already secured a pharmaceutical partner and are actively exploring additional partnerships that will lead to further growth,” Thilo Kleinschmidt, co-founder and co-CEO of Kranus Health.
About Kranus Health
Kranus Health is the world’s leading provider of integrated digital care concepts in urology. Current products include Kranus Edera, a novel treatment option for erectile dysfunction, and Kranus Lutera, a therapy for prostate enlargement. With Kranus Edera, the company has launched the first digital health application (DiGA) as a fully reimbursable “app on prescription” for the treatment of erection problems and their causes.
One of the largest studies in the urological sector, conducted at Münster University Hospital, has confirmed the efficacy of this therapeutic approach and proven that Kranus Edera is a scientifically proven alternative to Viagra and similar drugs.
Kranus Health was founded in 2020 under the scientific leadership of Prof. Dr. Kurt Miller, former Medical Director of the Department of Urology at Charité. The co-founders and co-CEOs Jens Nörtershäuser & Thilo Kleinschmidt have known each other for many years through their time together at McKinsey. Nikolay Dimolarov (Celonis, among others) complements the four-member founding team as Chief Technology Officer. The international team at Kranus Health now consists of more than 70 employees working at the company’s sites in Munich, Berlin and Paris. Together with an experienced leadership team, the company plans to develop additional digital therapies and expand its global footprint to improve urology healthcare worldwide.
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances technology start-ups with growth potential and has supported more than 700 start-ups since 2005. With the launch of the fourth fund, HTGF has around 1.4 billion euros under management. The team of experienced investment managers and start-up experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have invested around EUR 5 billion in the HTGF portfolio in more than 2,000 follow-on financing rounds. In addition, the fund has already successfully sold shares in more than 170 companies.
Fund investors in the public-private partnership include the German Federal Ministry for Economic Affairs and Climate Protection, KfW Capital, and 45 companies from a wide range of industries.