Romanian medtech startup Recomedica aims to raise EUR 300,000 on SeedBlink
Recomedica, the Romanian startup that offers guiding and online medical assistance, aims to draw EUR 300,000 from local investors through an equity crowdfunding campaign on SeedBlink, at a EUR 3,5 mil. valuation. Through this new round of investment, Recomedica’s founders aim to develop the Recomedica mobile app and gain the resources to launch their services internationally.
Recomedica is an online medical platform, which acts as a bridge between medical service providers and patients, with the objective of offering users quick access to online medical consultations, in order to streamline the diagnostics and treatment processes. The Recomedica team aims to bring users close to the medical support they need, by quickly being able to contact a doctor, no matter their location.
Through the SeedBlink campaign, Recomedica aims to raise EUR 300,000 EUR, with the option of extending this round to a maximum of EUR 350,000. From the targeted amount, Recomedica has already secured 135,000 EUR from Romanian investors, some of which have in-depth expertise in the medical and pharmaceutical sectors.
With this new funding round, Recomedica plans to develop an advanced mobile application for Recomedica PRO services, improve and develop the user experience both within the platform and in other departments (call center) and fund the international launch of its services, starting with the UK, Germany, Italy and Austria.
“Now, more than ever, telemedicine plays an essential role for everyone who wants to take care of their health properly. Recomedica offers the widest range of medical expertise and the fastest response time to medical requests, and with this new funding we aim to accelerate the development of the Recomedica platform. We are very happy we have this opportunity to collaborate with the SeedBlink team and we are confident that our development will encourage the development of the healthcare industry,” said Eduard Andrei Cioroaga, co-founder and CEO of Recomedica.
“We are pleased to return to the Health-Tech sector, which has generated a great deal of interest for investors in previous listings on SeedBlink. Recomedica covers a very important part of the medical landscape: prevention. Recomedica places the bricks at the base of a pyramid that needs to be rebuilt in Romania: prevention, specialists, surgeons. We are happy to support a young company that combines the enthusiasm and experience the team has in digital marketing with the pragmatism and experience of business angels who have already joined the project,” said Andrei Dudoiu, co-founder and CEO of SeedBlink.
The Recomedica team recently launched the Recomedica PRO web platform, which provides users with access to medical services in a fast and simplified way, offering medical advice and recommendations. Currently, Recomedica has partnered with 326 physicians, and the average response time to a medical request is 20 minutes.
Recomedica has been offering online medical guidance and access to healthcare services from 2020, having over 35,000 unique users who have already made over 80,000 medical requests within the platform.
Moreover, Recomedica was the first European telemedicine platform to help people self-assess the symptoms of Covid-19, while providing continuous monitoring of people most likely to catch the virus.
“In the context of the pandemic, telemedicine has had the highest traction due to the fact that people are becoming more self-aware of their health. In times of stress, people really understand what the traditional medical system is missing. We can say that the pandemic is currently responsible for the digital transformation of health systems around the world,” explained Eduard Cioroaga.
The global telemedicine market value is valued at EUR 40 billion, while in Europe, the market was valued at EUR 9.50 billion in 2020. According to the Market Research Forecast, telemedicine will continue to grow at a CAGR of 14.1% in Europe and 17.9% globally between 2020 and 2025.
The Recomedica startup was bootstrapped by Eduard Andrei Cioroaga and Mihail Subtirelu two years ago and has already attracted a private EUR 25,000 investment at the end of 2020. The Recomedica team plans to develop a mobile application for the Recomedica PRO platform and launch its services internationally, through a new round of financing by listing on Seedblink on February 9th.