3 main reasons why you should believe in uPacjenta — just like we did
We are extremely happy to announce our participation in uPacjenta seed investment round.
The 4,7M EUR round was led by Inovo Venture Partners with the participation of YZR, 10x Founders investors and Innovation Nest.
uPacjenta is a leading home testing solution and the first smart lab platform in Europe, that connects patients and medical professionals by allowing them to order blood tests to their homes and offices. The mission is to remove barriers and provide easy access to regular blood testing without having to leave home.
In this article, we would like to share the top three reasons that convinced us to join uPacjenta on its mission.
Global trends
Longevity is one of the key global trends and challenges of today. In the face of a pandemic, people started to pay much more attention to improving life quality, to live healthily and as long as possible. The uPacjenta platform is designed to streamline regular health checks. It uses health reports with trend recognition and analysis created by healthcare professionals.
This type of service is also important in the fast-growing b2b market, where it is becoming an increasingly desirable employee benefit, especially in the world of remote working.
Chance of setting up the new standard.
During the research process, we came up with a conclusion that uPacjenta is surprisingly one of the first movers in this part of healthcare market. Even though the healthcare services market received a serious growth boost due to the pandemic, it’s still in its early stages.
The way the company operates gives it access to three major global markets with a combined value of about $785 billion and a projected CAGR of 12.48% over the next 8 years (*)
- Global Healthcare Service Market — $665B,
- Blood Diagnostic Market — $74B
- mHealth Market — $46B,
In fact, there are only a couple of other companies in this sector, mostly operating in the US.
Product-Market Fit
The pandemic reduced access to traditional medical services. Not surprisingly, 49% of Polish citizens have used telemedicine in the past year (**). Many people who were sceptical about using telemedicine services have recently been convinced or simply forced to use them.
It is likely that a significant portion of the previously digitally excluded population built digital competencies (e.g., learned to use various medical platforms) when they needed professional medical advice.
Today, uPacjenta notes a rapid domestic growth. Only in 2021, nearly half a million blood tests were ordered through their platform. This is over 2 times more than in the previous year and as much as 11 times more than 2 years ago!
The latest investment round is dedicated to push the company to foreign markets, proving that domestic success — if managed well, in which we deeply believe — can be the answer to global trends.
(*)PMR Report 2020
(**) Justyna Błasiak — Mniej fast foodów, więcej warzyw i… niechęć do badań. Jak Polacy dbają o zdrowie?
About Innovation Nest:
Innovation Nest invests in top European teams building B2B software businesses seeking pre-seed or seed funding.
We are a human-centric organization. We realize talented individuals can be found anywhere, and exceptional teams can accomplish extraordinary results.
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