Swedish telemedicine start-up raises $6.8m seed capital
KRY, a Swedish digital medical centre, will use its $6.8m in seed capital from investors including Index Ventures and Creandum to expand internationally. Since its launch in 2015, the app has reportedly served around 30 000 Swedes, allowing patients to access medical appointments via live video chat. With its expansion, the start-up aims to help address shortages in medical staff beyond Sweden's borders.

Swedish digital health startup Kry, which connects patients with healthcare professionals via video, has raised $6.8 million (€6.1m) in seed funding led by London and San Francisco-based Index Ventures and Stockholm-based Creandum. Berlin-based VC Project A also contributed.

Currently available in Sweden, Kry will use this investment to expand internationally and continue building up its healthcare offering for its existing customers.

Kry launched in 2015 and is Sweden’s first digital medicine center. Nationwide, patients can receive a video consultation with a healthcare professional (employed by Kry) via mobile phone, tablet or browser.

All a patient has to do is pick a date and time for their appointment, describe their symptoms within the app, and they are then connected with a doctor for a 15-minute, $35 consultation. Doctors can diagnose patients and offer advice for any concerns that don’t require physical examinations or samples, such as rashes or fevers. If necessary, the doctor can print off a prescription or refer the patient to a specialist, and the doctor will keep the user’s medical record.

While healthcare in Sweden is a public system wherein everyone enjoys equal access, challenges in efficiency and funding still exist, as does access in more rural parts of the country. Additionally, healthcare records are stored in antiquated, congested systems, and primary healthcare can be low quality.

“Kry’s mission is to revolutionize healthcare, enabling anyone, regardless of their location, to be diagnosed by a medical professional without having to leave their home or workplace,” Kry CEO and cofounder Johannes Schildt said in a statement. “This first round will make it possible for us to provide our service to more people all over the world, helping them get the care and medical treatment they need."

The company says they have already served some 30,000 Swedes since its launch, and positions itself as a means to alleviate the pressure that growing populations have on traditional medical support models.

Ben Holmes, a partner at Index Ventures, said his firm was drawn in by Kry’s patient-centric mobile experience.

“Healthcare at the primary care level has not fully benefitted from technology innovation, and Kry has a real opportunity to expand and improve access to healthcare for everyone,” Holmes said in a statement.