Flying News: Myo closes 10.5M Euro Series A Investment for their elderly care platform

The Flying Health community startup myo (Myosotis GmbH) has raised 10.5 million euros as part of its Series A financing round. The lead investor is TVM Capital Life Science (“TVM”) with an investment of eight million euros. The round was complemented by TWIP Impact Ventures (“Twip”) and existing investors.

  • The Berlin-based startup was founded in 2018 and has developed “Myo”, a communication app that connects care facilities, relatives and service providers easily, quickly and digitally. The app enables families to participate in their loved ones’ everyday lives by receiving pictures, videos and documents or making video calls. Analog workflows are simplified with additional modules for ordering meals, complaints, the external laundry or the pharmacy. This will save costs and time and create better documentation.
 
  • The investment will be used to drive growth in the DACH region and the UK, as well as product development with a focus on a marketplace to better integrate those who provide external care, such as physiotherapists, assistants for daily routines, hairdressers and florists.
 
  • Myo already works with over 400 customers in Germany, Austria, Switzerland and the UK, including well-known organizations such as DRK, AWO, Johanniter and Agaplesion. Last year, over 30,000 users sent seven-figure interactions via the platform. Market leaders such as apetito, Sanacorp and CWS have been fully integrated to further simplify communication for elderly care facilities.
 

We congratulate Myo on the successfully completed financing round and look forward to many happier nursing staff, people in the need of care and their relatives.

Jasper Böckel, Co-Founder and CEO of myo