Danish weight loss app Embla raises €10M. Polish Inovo VC is among the investors

Copenhagen-based Embla, an online-based health clinic focusing on holistic coaching and medical treatment of obesity, has raised a €10 million Series A to expand to the British market. The round was co-led by Danish Seed Capital and Polish Inovo VC, the startup informed AIN.Capital.

  • Founded in 2021 by medical doctor Nicholas Syhler and serial entrepreneur Laust Wilster Axelsen, Embla operates in Denmark and the UK. It has more than 50 employees in both countries. The startup offers digital access to doctors and nurses, and regular check-ins with personalized “health coaches”.
  • The app’s doctors also prescribe and monitor the dosage of GLP-1 drugs — Ozempic, Saxenda, and Wegovy. The startup claims that its members achieve equivalent or even better weight loss to the clinical studies conducted with Wegovy, while concurrently reducing medication usage by 59%.
  • The fresh investment was made by:
    • Seed Capital, Denmark’s largest venture capital fund investing in tech companies.
    • Polish early-stage Inovo VC, that in 2022 launched its third €100 million fund. In total, Inovo VC’s first two funds have backed over €45 million in more than 30 companies.

“Obesity is one of the most significant healthcare challenges worldwide, leading to serious diseases that
shorten lifespans and raise healthcare costs. Embla’s approach combines behavioral change with medication and is among the best solutions available to patients. We believe that the team behind this company is outstanding and has the potential to profoundly impact people’s lives,”

Kris Przybylak, Principal at Inovo said.
  • Existing investors, Icelandic Crowberry Capital and Greek Venture Friends also participated.
  • Embla will spend the investment for the expansion of its app in the UK. It will also allow new AI features to help customize treatments, with plans to prepare its expansion to the US. To date, it wants to hire 20–30 employees in 2024.