The digital health startup Trak has closed its second €1.3 million investment round, led by the social impact venture capital fund Decelera Ventures.
The digital physiotherapy platform incorporates artificial intelligence to improve injury rehabilitation processes. The new funds will aim to consolidate the business in the domestic market and begin the internationalization of the company.
The operation has counted with the participation of other investment funds such as Biozell or Basque Fondo, and business angels such as Joaquín Azpilicueta, CEO of Alpha Innomed, or Pilar González de Frutos, president of Unespa, among others. The company, founded in late 2020 with headquarters in the Basque Country, has as its mission to make the rehabilitation of musculoskeletal injuries more accessible through its digital solution. The company’s software is considered a medical device, allowing healthcare professionals to offer rehabilitation treatments through physical exercise.
The start-up, which participated last year in one of Lanzadera’s acceleration programs, has incorporated an innovative artificial intelligence technology that uses a phone camera to provide instant corrections on the exercise to be performed, in addition to reporting clinical data to the healthcare professional for subsequent analysis. The solution includes an algorithm capable of identifying up to 20 joint points on the human body and only needs the camera of the phone or laptop to analyze the movement of patients.
The funds will also go toward increasing sales and addressing the regulatory side. In this last aspect, Trak wants to obtain the classification of class 2 medical device. In addition, the startup has been one of two European companies to benefit from a grant promoted by EIT Health, the program driven from the European Union to support projects related to health in its various fields, with the purpose of introducing the solution in the health reimbursement system of the Netherlands. “This is a market that is very accustomed to digital health solutions,” according to the company’s founder and COO Carlos Rodríguez-Sierra.
The system makes it possible to increase and make more efficient the number of treatments offered by a healthcare professional, thus reducing waiting list times in hospitals. Insurers such as Mapfre, Sanitas or Mutua Universal already have the platform to offer a digital physiotherapy service to their customers. In the words of its CEO and founder, Jon Vital, “this investment round will allow us to scale the business and consolidate our position as a digital physiotherapy platform at a national level, to then begin internationalization in other markets”.
