[Funding alert] Earlybird Health Secures €173 Million in Funding

Wednesday 14, 2024 | By Startup Rise EU

[Funding alert] Earlybird Health Secures €173 Million in Funding

Earlybird Health secures €173 million in funding. The size of the independently managed fund has expanded dramatically compared to the preceding Fund, indicating a greater interest in healthcare among investors.

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Investing in European businesses from their inception to cutting-edge technologies that are getting close to regulatory clearance and commercialization is the focus of the Earlybird Health Fund.

The Fund seeks to invest in businesses that, independent of the technology used, produce strong and favorable patient results in the healthcare sectors of digital health, diagnostics, medical devices, R&D tools, and biopharma.

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Newly-appointed Partner Florent Gros commented: “Joining Earlybird Health felt like a natural evolution, given that we have a shared commitment to revolutionise patient care. Earlybird’s prior investment in my company Priothera, coupled with my previous role with the Novartis Venture Fund helps us leverage our experience in strengthening Earlybird’s impact, especially in biotech and biopharma.”

Eagle Eye, an exclusive in-house technology, is used by Earlybird for deal sourcing in order to enhance the experience of the investment team. This innovative AI platform collects data for established companies and analyzes potential startups by utilizing data aggregation and curation from many sources.

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Dr. Christoph Massner, Principal at Earlybird Health said, “Eagle Eye will soon be the driver of a more effective, efficient, and inclusive deal sourcing and due diligence process for our investment teams. Earlybird Health is proud to set the standard for dynamic and informed deal flow in the European healthcare sector,”.

Leading European institutional investors endorsed the new Earlybird Health Fund. Health insurers, strategic investors, as well as governmental and private organizations from throughout the region, all support this.

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Christine Hockley, Managing Director for Funds at British Patient Capital, said: “We are delighted to be investing in Earlybird Health to support them in building out their healthcare investment strategy, especially within the UK. The UK is a global centre for healthcare innovation, and this investment aligns with our strategy of increasing the sources of capital to innovative breakthrough companies within the sector.”

Notably, with its commitment to Earlybird Health, BARMER, a prominent public health insurer in Germany, became the first of these insurers to engage in a venture capital fund.

Prof. Dr. Christoph Straub, CEO of BARMER said, “We are proud to pave the way for health insurers to invest in venture capital through our ongoing support for Earlybird Health. This reflects our commitment to fostering innovation within the German and European healthcare ecosystem. We are confident these efforts will yield positive outcomes for patients worldwide,”.

About Earlybird Health

Investing in technological firms at every stage of their development and expansion, Earlybird was founded in 1997. Being one of the most seasoned venture capital firms in Europe, Earlybird provides its portfolio companies with access to capital markets, global networks, and strategic support in addition to financial resources.

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