[Funding alert] Dublin-based Wellola Secures €2.2 million in Funding

Friday 29, 2024 | By Startup Rise EU

  • Digital health company Wellola secures €2.2 million funding, bringing its total funding to date to €4 million. 
  • The funds will be utilised by Wellola to expedite market expansion throughout Europe.
Wellola, a digital health startup based in Dublin, has raised €2.2 million. Established in 2016 by medical professionals in Ireland, Wellola creates patient care solutions, such as the distinguished Portasana® platform.

Wellola, a digital health startup based in Dublin, has raised €2.2 million. Established in 2016 by medical professionals in Ireland, it creates patient care solutions, such as the distinguished Portasana® platform.

With additional finance from Enterprise Ireland and Bay Advisory, Elkstone is spearheading the investment. It gives healthcare facilities the digital communication capabilities they need to provide treatment outside of a hospital setting, including hospitals and community-based clinics.

In a sample assessment of more than 600 patients in the UK who enrolled in the platform's educational courses: Ninety-five percent Gain a deeper comprehension of their circumstances. 91% of people feel more assured about taking care of their condition. 88% of respondents feel more assured about what to do in the event that their illness worsens. Fifty-nine percent have visited the hospital less times.

Read also - London-based Oriole Networks Secures £10Million in Seed Funding

It's award-winning Portasana® platform has already been implemented by major healthcare companies, such as Leeds Teaching Hospitals NHS Trust, the North East London Foundation Trust, and Birmingham Community NHS Trust. Just one NHS Trust department has been able to save almost £325,000 annually by reducing the requirement for follow-up appointments by 30% thanks to Portasana®.

Sonia Neary, CEO at Wellola: “At Wellola, we are transforming healthcare delivery for both patients and health professionals through fully interoperable innovation.
Digital interventions like ours can address health inequalities by being scalable, affordable, and accessible. This investment will enable us to further enhance our Portasana patient care and communication platform and expand our footprint across the UK. It will ultimately empower healthcare professionals to deliver more efficient, effective, and personalised care to their patients."

Barry Brennan, Partner at Elkstone, said: “Wellola is revolutionising how hospitals and clinics care for and communicate with patients. As Ireland’s largest early-stage venture fund, we always look for innovative Irish founders making an impact both at home and abroad.”

Ruth McAvoy of Enterprise Ireland said: “Wellola has developed an international reputation for innovation and service delivery, and Enterprise Ireland is proud to support this funding round. This will allow Sonia Neary and the Wellola team to continue expanding in the UK and Europe. Wellola’s technology benefits patients and healthcare systems and will play a critical role in the rapidly evolving healthcare sector."

With the money, it intends to expand its market share in Europe more quickly and hire technical and operational personnel in the UK and Ireland.

About Wellola

The Wellola team thinks that preventative, community-based, and technologically assisted healthcare is the way of the future and that only the sickest of the sick should be admitted to hospitals. Wellola takes great satisfaction in being incredibly user-focused, dependable, strong, and simple to use. Their pricing strategy is very cost-effective, their team has extensive industry knowledge, and their business plan is scalable for national markets.

Read also - London-based Metaview Secures €6.4 million in Funding

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