Healthcare Platform, Formel Skin, is Making Dermatology More Accessible
German Healthcare platform, Formel Skin, has secured €30 million to make dermatology more accessible in Series A funding round.
Healtcare sector is witnessing a lot of development that is powered by technology. It will not be wrong to say that technology has been a critical aspect of all the developments in healthcare. Dermatology is one field of healthcare sector which couldn’t witness much technological advancement.
There are many skin diseases that does not require the patients to visit the doctors. Since doctors are not easily accessible for prescription, so patients have to wait in long queues just to get the expert opinion on their skin diseases. German healthcare startup, Fomerl Skin, has seen this problem and aims to fill the void by offering a digital platform. This platform helps dermatologists to provide quick diagnosis and personalized medical treatment.
In the latest funding round, the startup has successfully banked €30 million. Main investors in this funding were Singular and Heal Capital. However, different angel investors, Cherry Ventures, Heartcore Capital and Vorwerk Ventures also participated in the round.
Moroever, the problem is not only for the patients who have to visit dermatologists every now and then. But it also results in the wastage of time for the dermatologists. To solve this very problem, the company was founded by Florian Semler, Anton Kononov and Dr Sarah Bechstein in 2019.
All of the founders of the company comes from different but relevant backgrounds. Florian Semler has extensive experience of healthcare products and have worked a lot in this sector. Anton Kononov has rich experience in marketing, strategizing, and product development sector. And Dr Sarah Bechstein is by profession a dermatologist so she perfectly knows all the details of the profession. The blend of their experiences makes Formel Skin a complete product.
There is no doubt that technology has played an important role in the healthcare sector. The challenge that COVID-19 posed is an example. It was the technology which made it possible to restrict the spread of the virus. Similarly, automation in the healthcare sector has also been an application of the technology. In the same way, augmented reality and artificial intelligence are further empowering the healthcare sector.