Dr.Dropin, the fast-growing Norwegian digi-physical healthcare operator has just raised about €19 million. The round was led by international venture capital firms SHS Capital and Yabeo with participation from existing investors Andenes Ventures and Stenshagen Invest.
Founded in 2017, Dr.Dropin has the vision to democratise the private healthcare market, giving instant access to quality care services to everyone – at an affordable price and both physically and digitally.
To do so, the medtech startup has created a one-stop-shop to simplify healthcare services for patients. The services offered range from general medicine to specialist health services including dermatologists, physical therapists and psychologists. At the moment, about 25% of consultations are conducted digitally, reflecting the changing face of healthcare in the digital world. Already, Dr.Dropin’s network of operational clinics covers >50% of Norway’s population.
Dr. Daniel Sørli, CEO of Dr.Dropin said: “By developing and utilising in-house technology we have effectively been able to grow to become one of the largest and most profitable private healthcare providers in Norway, in just under five years. With this substantial investment from SHS and Yabeo we look forward to further expanding our services outside Norway, and providing everyone ranging from private individuals to public entities with modern and effective healthcare driven by the latest medical research and technology”.
With 25 clinics across all major Norwegian cities, the Oslo based company is now looking to accelerate growth and expand internationally. This is in addition to scaling up digital solutions and the tech platform – meeting new demands in the medical sector and democratising medtech for the benefit of all.
Dr. Cornelius Maas, Partner at SHS Capital added: “Dr.Dropin is an exciting Nordic healthcare provider with a strong technological foundation which we find interesting. At SHS we are passionate about building European healthcare champions, and looking at Dr.Dropin’s track record and their team of highly skilled medical and business professionals we are confident that the company is well positioned to expand into the European market and be a substantial competitor to the already established healthcare providers across Europe”.
The Norwegian startup-factory Askeladden & Co is currently the largest shareholder in Dr.Dropin and co-founded the company together with current management. Askeladden & Co develop and finance data-driven companies with an aim to prepare the companies for quick and global scaling. Askeladden & Co are confident that SHS Capital and Yabeo with their extensive knowledge of the European markets, will strengthen Dr.Dropin’s potential and competitive advantage when scaling abroad. Following this funding round, Askeladden & Co will still play an active role in the company to secure continuation and support of their day-to-day business.
Martin Schütt, Co-founder and Managing Partner at Askeladden & Co commented: “We are happy to see SHS and Yabeo step in as active investors in Dr.Dropin. They will be important for the company’s future journey and we see them as strong partners who bring not only capital, but also industry expertise and a long-standing network. We are proud of the journey so far, together with fantastic co-founders and people in Dr.Dropin, and are stoked to embark on the next chapter with continued growth, joy and value creation. We are still highly motivated to continue our support to Dr.Dropin’s important journey of building Europe’s fastest growing health startup”.