Latvian medtech startup Medon secures €320k to expand in India and the UAE

Medon, a Riga-based digital clinic, has secured 320,000 in a pre-seed investment round from several unnamed Latvian entrepreneurs. The fresh capital injection will help the Latvian medtech startup to expand its services into new markets, including India and the UAE.

  • Co-founded by Roberts Lasovskis, Andrejs Mironovs, and Mārtiņš Ērglis in 2020, Medon is a telemedicine platform that connects patients and doctors in a digital environment.
  • According to the company, Medon’s digital clinic already represents 27 medical specialties and has 128 medical experts registered, while over 4,000 patients. The clinic is included in the Health Inspectorate’s Register of Medical Institutions and offers remote medical consultations with a special focus on cardiovascular health.

Cardiovascular disease remains the leading cause of death globally and our target markets are seeing an alarming increase in these diseases. For example, cardiovascular diseases cause nearly a quarter of deaths in India, 45% in Saudi Arabia and 40% in the United Arab Emirates. Our approach is to mitigate this trend by leveraging European medical expertise and making innovative and patient-centered healthcare more accessible,

Mārtiņš Ērglis, a cardiac surgeon and co-founder of Medon, commented to
  • The €320,000 pre-seed round was backed by several unnamed Latvian entrepreneurs, aiming to make healthcare accessible both in Latvia and globally.

The fresh capital injection will help Medon to expand its product first in India, followed by the United Arab Emirates and Saudi Arabia.