Only have 1 minute? Here are 3 key takeaways:
- Grееk-foundеd physiotherapy startup Kinvent has secured a €16M investment in its third round of fundraising, with French private equity firm Eurazeo leading the investment to advance thе health sector.
- Uni.Fund, a Greece-based Venture Capital fund, which was the first investor in the company, is also participating in the current funding round through its second fund, Uni.Fund II.
- The investment will facilitate Kinvent’s global expansion, particularly targeting the US in 2024, and increasе the company’s research and development efforts.
Kinvent, a Greek-founded company offering connected physiotherapy solutions, secured €16M investment during its third fundraising round. The French private equity firm focused on advancing health sectors in France, Eurazeo is joining the company’s leadership. They acquired a minority stake in the capital, alongside the founding president and existing minority shareholders, including Uni.Fund, Sofilaro, BADGE, and Raphaël Varane.
Kinvent aims to transform the practice of physiotherapists and fitness trainers through the collection and analysis of biomechanical data. The company designs, develops, and manufactures a range of connected devices that measure force, balance, and range of motion through a single application for the sports performance, rehabilitation, and medical industries. Kinvent’s solution attracts rehabilitation professionals (sports specialists, general practitioners, or those working in nursing homes or post-surgical units), healthcare professionals, and professional sports clubs.
The company was founded in 2017 in Thessaloniki, Greece. Currently, Kinvent is present in 68 countries with 75 employees.
The new investment will accelerate the company based in Montpellier to expand its international reach, specifically targeting the US in 2024. Kinvent will rely on the health expertise of the Nov Santé’s team, managed by Eurazeo, in executing the commercial development plan. The company also aims to increase its R&D projects. Kinvent recorded an 80% growth between 2022 and 2023, according to their data.
The founder, Athanase Kollias, is a mechanical engineer with 2 patents, and work experience in companies such as Michelin and Razel-Bec. “We are at a structuring stage in our history, in a rapidly expanding market, and have been convinced by the Nov Santé team’s ability to accompany Kinvent’s development, its knowledge of the health market, and its internal expertise,” said Kollias, who is also the CEO of the company.
“We identified Kinvent at an incubator in Thessaloniki back in 2018, and then, we have been closely working with the company, supporting the founder all the way through in building a great management team, developing the right go-to-market and scalability strategies and making all the critical business decisions that have brought the company to where it stands today. We look forward to continuing this trip together”, said Dora Trachana, Partner at Uni.Fund, for The Recursive.