Canadian direct-to-consumer digital care startup Felix introduced final week it had raised C$18 million ($13.3 million).
The spherical was led by BDC Capital with participation from the Canadian Enterprise Progress Fund (CBGF), Whitecap Enterprise Companions and Mantella Enterprise Companions.
WHAT THEY DO
Felix presents on-line consultations and prescriptions for contraception, PrEP, weight reduction, hair loss, erectile dysfunction, pimples, anxiousness, melancholy and different circumstances.
The startup mentioned the newest inflow of capital permits it to launch new, extra complicated care classes and therapeutic companies.
“From a busy guardian with no time to get to a pharmacy in particular person to a younger grownup in a rural group with no household physician, we’re offering an choice that helps sufferers get therapy on their phrases,” Kyle Zien, cofounder and CEO of Felix, mentioned in a press release. “This funding will speed up our development and additional our mission of serving to Canadians take management of their well being and wellbeing. By investments in our know-how, our operations and our staff, Felix will proceed to develop its service by launching new and extra complete classes of care in 2023.”
MARKET SNAPSHOT
Launched in 2019, Felix raised a C$10 million Series A two years later. The corporate mentioned it will use the funds to rent new staffers and add companies for psychological healthcare and PrEP prescriptions, a medicine used to scale back the possibilities of HIV transmission.
Felix pitches its companies as a method to enhance entry within the Canadian healthcare system. A ballot performed final yr by the Angus Reid Institute discovered solely 15% of Canadians reported “snug” entry to care in contrast with 29% of Individuals.
One other Canadian digital care firm is Maple, which obtained a C$75 million funding from Loblaw Companies Limited in 2020 and acquired virtual primary care company Wello early final yr.
There are additionally a number of U.S.-based direct-to-consumer digital care corporations together with Ro and Hims & Hers. Amazon additionally lately launched its personal service, called Amazon Clinic, that can concentrate on frequent circumstances like hair loss, heartburn, pimples, dandruff and seasonal allergy symptoms.
Matthew Fisher will supply extra element within the HIMS23 session “A Complicated Muddle: Well being Coverage Submit-Dobbs.” It’s scheduled for Tuesday, April 18, at 3 p.m. – 4 p.m. CT on the South Constructing, Stage 1, S100 C.
