With New Funds, Dawn Health Aims to Improve Its Digital Innovation
Denmark-based healthcare SaaS provider raises $25 million in the latest funding round to expand its digital health services in MENA countries.
Digital health tech startup, Dawn Health is currently operating in Denmark and UAE. The platform provides digital solutions to people battling acute and chronic diseases. For this purpose, the company has partnered with different pharmaceutical, medical and biotech industries. With this idea, the company has raised $25 million.
This funding round was led by some seasoned investors – Chr. Augustinus Fabrikker, Vaekstfonden – of the Danish growth fund. However, the angel investor Lars Marcher also participated in the funding round.
The company was initiated in 2016 and launched a unique process landscape and quality management system. This allows agile development of highly regulated software products. This capability has accelerated the growth of the company and made it a possible leader in digital health software products targeting patients with chronic disease specifically.
With this newly acquired fund, the company is aiming to deploy an ambitious development plan to accelerate its growth and enhance its international footprint.
The reason for accelerating and focussing on MENA countries is that the market of digital healthcare is accumulating in this region. It is the second-most active industry in MENA countries. 69% of all venture capital deployed in the sector were impact-driven healthcare startups. Other than that, the demand for healthcare platform development across the globe has increased notably. This is the reason that major funding between 2020 and 2021 in UAE was banked by UAE-based health tech startups.
Daniel Gewecke Daugaard, Founder & CEO of Dawn Health highlighted “Throughout the last century, Denmark has established an impressive life science industry. At the doorstep of 2022, digital health is disrupting the traditional delivery models of healthcare services – responding to the needs of digital citizens demanding change and empowerment. In Dawn Health we are determined to spearhead this digital revolution and co-create a new normal for patients with serious chronic diseases.”