Dawn Health raises $25M in Series A
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The Danish HealthTech and healthcare SaaS provider Dawn Health, operating in the UAE and Denmark, has successfully raised $25M in their latest funding round to expand their MENA base. The Series A round was led by a consortium of veteran investors including three Danish entities, namely Chr. Augustinus Fabrikker, Vaekstfonden - The Danish Growth Fund, and angel investor Lars Marcher. Following the investment, Lars Marcher will assume the role as Chairman of the Board of Directors, accompanied by John Rubek Lauritsen from Chr. Augustinus Fabrikker and Mads Lacoppidan from the Danish Growth Fund.
Launched in 2016, Dawn Health has established a unique process landscape and certified quality management system that allows for agile development of highly regulated software products. This capability has fueled rapid growth and caries the potential to make Dawn Health a global leader in the development of life-changing digital health software products targeting patients with chronic diseases.
As recorded in our flagship 2021 MENA VC Impact Investment Report brought to you by Wa’ed, the Healthcare industry in MENA was the second most-active industry for impact investing between 2016 and Q3 2021. Accounting for 20% of impact investment deals closed in the past 5 years, 69% of all VC capital deployed in the sector were raised MENA-based Impact-driven HealthTech startups, accounting for 14% of all VC Impact Investment capital deployed across industries between 2016 and Q3 2021. In the UAE, UAE-based HealthTech startups raised major rounds between 2020 and 2021 drove funding growth across MENA. Most remarkably were Telemedicine Consultation digital platform Altibbi, Appointment booking platform Okadoc, Health Tracker and test booking platform Valeo, as well as Selfologi the online cosmetics treatment marketplace.
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The first international customers have already embarked on Dawn Health’s regulated software platform, and next year the company aims to double its workforce while maintaining ambitions to reach triple digital growth rates. 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. Our new investment will pave the way for the development of group-breaking digital health innovations - executed in close collaboration with a broad portfolio of international life science partners in Europe, the Middle East, and globally”.
Dawn Health entered the Middle East, Asia, and Africa market in late 2019 with the support of global pharmaceutical leaders. In the past two years, Dawn’s UAE office has grown exponentially and now covers solutions across diabetes, growth hormone deficiency, oncology, heart failure, and numerous additional therapeutic areas. "The healthcare system dynamics in many emerging markets places a big burden on patients, which creates a multitude of opportunities for supporting patients in collaboration with our partners in the life science industry. If we want to succeed in impacting more than a million lives before 2030, a significant footprint in the region is imperative," says Ole-Bjorn Kolbaek, General Manager of Dawn Health GCC.
Over the next 4 years, Dawn Health will deploy an ambitious investment strategy to further accelerate its growth and international footprint. The investment will further accelerate the growth of Dawn Health in the rapidly expanding market for digital therapeutics and software as a medical device in Denmark, the UAE, and globally. Capitalizing on their newly acquired investment, Dawn Health has set out to transform the global HealthTech industry by leveraging its success in Europe and the Middle East. “Investments in ambitious startups are an important part of Chr. Augustinus Fabrikker’s scale investment strategy and we have allocated more than DKK 1 billon (AED 550 million) to new innovative firms with international potential such as Dawn Health. We are very impressed with the team behind Dawn Health and the great potential of digital health products to the benefit of us all,” concluded Claus Gregersen, CEO of Chr. Augustinus Fabrikker.
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