Health tech Start Up Migrevention Raises €355k In Pre-Seed Funding

January 04, 2022 | 3 minutes read

Estonia-based health tech startup  Migrevention which offers remote treatment of migraine has entered into clinical trials after raising funding of  €355k in a pre-series round.

With the advent of this year, the health tech startups are in no mood of backing down on innovating and raising investments. As recently Migrevention, an Estonian startup that aims to provide remote treatment of migraine has raised €355k. The funding round was led by Dag Nurm with the inclusion of experienced healthcare investors and also from tech, legal, and startup niches.  

The health tech industry has witnessed exponential growth the previous year and it is one of the favorite sectors of investors to invest in. As of last year, the total investments in the health sector reached $23.8 billion in the first nine months of 2021. And this momentum is projected to continue in the year of 2022 too which eventually means the rise in the development of healthcare apps and software.

Founded in 2020, Migrevention’s core team consists of neurologists, term migraine patients psychologists, and nurses. It also consists of digital tools for specialists to reduce work time and assess patients’ conditions. It believes in evidence-based migraine treatment and aims to evolve as a  platform for scientifically proven treatment. The startup has begun its clinical trials at Tartu University Hospital. Thusly, by combining the digital with conventional methods the goal of the startup is to certify its product as the digital medical device of the year. 

Migrevention’s solution offers a variety of digital treatment options for patients that can be accessed with ease anywhere and anytime via the app. 

It is no doubt that technology is transforming the healthcare sector by providing different innovative solutions. This is one of the main reasons that healthtech startups are increasing in every region of the world and Europe is no exception. Recently in December last year, the German startup Formel Skin secured funding of  €30 million to make dermatology more accessible. 

Similarly, New Zealand-based health tech startup Roster Lab which offers 10 times faster roaster building services raised NZ$ 500k in the pre-seed round. Similarly, the Indian healthtech startup Easocare has garnered a lot of attention for the development of digital tools that can empower pharmacies. Other than this, in the UK region, the health tech startups have also caught the eye of the investors as AI-powered healthcare startup ieso in November last year raised $53 million.

The phenomenon of digitization of healthcare services has been around for a while but after the pandemic, the digital healthcare startups have exponentially increased. It is no doubt that technology is shaping the healthcare sector with automation and other facilities like telemedicine, wearable technology, and Internet of medical things, etc. And now with Migravention the remote treatment of Migraine is something revolutionary. As globally, more than 1 billion people suffer from frequent migraine attacks. Yet only 1-4% of patients receive adequate treatment. Katrina Lags, the founder and the CEO stated 

“Our solution allows us to help 10 times more headache patients thus offering a future treatment option to anyone suffering from frequent migraine headaches. We are developing a solution that would allow to monitor and prevent headache episodes, as well as offer treatment based on science-based recommendations.”

The implementation of Migrevention “the development of Migravenation digital headache clinic” is also supported by “Green ICT”- Norwegian-Estonian cooperation program.