EIT Digital Accelerator supported Sidekick raises USD 20 million funding

Friday, October 30, 2020

Sidekick Health (Sidekick), a Nordic digital therapeutics company, specialises in creating gamified digital therapeutic solutions and programmes, transforming chronic and lifestyle disease management across multiple therapeutic areas, ranging from diabetes to ulcerative colitis and smoking cessation.

With the support of the EIT Digital Accelerator, the company launched its fundraising process earlier this year and was quickly oversubscribed. They finally decided to close the round at USD 20 million, led by Wellington Partners (Germany) and ASABYS Partners (Spain), with participation by existing investors Novator (UK) and Frumtak Ventures (Iceland).

Sidekick will use the proceeds for validation and development into new therapeutic areas, as well as to drive product development forward to increase its lead in patient engagement and retention, and to further position itself as the preferred provider to expand pharmacotherapies. The company will also focus on continuing to improve health outcomes with other healthcare stakeholders.

Sidekick was identified by EIT Digital through its flagship pan-European competition for deep tech scale-ups in the digital space, the EIT Digital Challenge, and was among the 10 winners in the 2019 edition of the contest. As part of the prize, Sidekick joined the EIT Digital Accelerator to support its international growth. 

Since January 2020, Sidekick has been actively supported by the EIT Digital Accelerator's fundraising experts in launching and coordinating this round, which generated extremely strong interest from multiple international investors very early on in the process and which was reinforced by the outbreak of the COVID-19 pandemic.

Since 2012, the EIT Digital Accelerator has supported start-ups and scale-ups from 18 countries who have raised over EUR 920 million in investment.

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