AI-powered chronic pain app secures $8 million
Digital therapeutics firm Kaia Health has secured $8m funding, the second significant investment for the German headquartered firm this year.
The company has developed an app for managing a range of chronic conditions, focussing on on musculoskeletal disorders (MSK) such as chronic back pain.
Its 2D motion tracking technology enables users to get real-time feedback on the performance of exercises designed to reduce pain by harnessing the use of a smartphone camera.
The firm claims that when the app’s exercises are carried out together with the platform’s psychological and educational support, it has been proven to outperform conventional therapy.
IT was founded by Manuel Thurner and Konstantin Mehl in 2015 and has offices in New York and Munich and has launched a pilot in the UK.
“The investment from Optum Ventures will allow us to explore integration opportunities throughout the complete patient treatment journey,” said Mehl.
“We are proud to partner with Optum Ventures, a company at the forefront of improving healthcare.”
UK-based Optum Ventures’ investment will be used to accelerate sales growth in the US healthcare market, extend the platform into other chronic conditions, and expand the supporting clinical evidence base.
“Kaia Health has taken a technology-led approach to create digital therapeutics that will make treatment more accessible to patients who need it,” said Heather Roxborough, partner at Optum Ventures.
“We believe Kaia Health’s digital therapeutic solutions will benefit those suffering from MSK disorders and are excited about its application in other indications.”
With three peer-reviewed clinical studies, including a randomized controlled trial recently published in NPJ Digital Medicine, Kaia Health has demonstrated its commitment to creating validated digital therapeutics and has additional clinical studies ongoing in the United States.