Ukrainian startup Raccoon.World raises €900k for digital physiotherapy platform
Raccoon.World, a Ukrainian startup, which develops telemedicine technologies, has raised 900,000 euros for its digital physiotherapy platform, Raccoon.Recovery. The news was reported to AIN.UA by representatives of the startup.
The Seed funding round was held in two stages. During the first stage, Raccoon.World received 275,000 euros from business angels and Silicon Valley Syndicate Club. During the second stage, which was announced on September 16, the startup raised another 625,000 euros from the private investment firm Quarter Partners.
Raccoon.Recovery is a digital rehabilitation platform that allows going through the entire rehabilitation process remotely, without weeks of waiting for free dates for a specialist and the need to visit the rehabilitation center several times a week.
Raccoon.World works with insurance and rehabilitation institutions and provides them with a tool for conducting therapy sessions with their patients online. According to the developers, this is of great importance during the pandemic period.
Using Raccoon.Recovery, the physical therapist can remotely perform:
- patient examination
- creation of treatment plan
- recovering by playing video games
- monitor progress
The solution can be used for a combined recovery method when a patient comes to the rehabilitation facility from time to time and performs controlled exercises at home.
How it works
Using the cloud-based software, the therapist connects to a patient via a built-in video call tool to perform an examination and make a treatment plan. The plan includes exercises necessary to achieve the patient’s recovery goals.
The patient wears specially developed sensors while doing prescribed exercises (repeating video lessons or playing video games). During the lockdown, patients can use their smartphones instead of sensors.
The therapist controls training remotely, even without the necessity to attend each session because all the data is securely stored in one’s account.
Where will the funds go?
The funds raised will be used for strengthening positions in existing markets (Germany and Poland) and preparing for future scaling within the EU and Asia. The money will also be spent on the development of the new product features, as well as conducting additional clinical trials.
“Our customers – rehabilitation facilities and insurers – report the significant increase in therapists’ effectiveness. With Raccoon.Recovery, they can treat more patients at a time and their income. At the same time, we see how effective the treatment with Raccoon.Recovery is for patients,” says Svitlana Malovana, CEO and co-founder at Raccoon.Recovery