Startup Kranus Health raises $6.5m Series A
When Pfizer launched Viagra in 1998, it had one of the fastest ever prescription uptakes of any medication. It’s the type of meteoric rise Munich and Berlin-based Kranus Health is hoping to echo with its own erectile dysfunction treatment, a digital therapy app. And early signs are looking positive.
Kranus had the most prescriptions after the first five months of launch than any other startup on Germany’s DiGA scheme — which means the app can be given to patients by doctors for free and the healthcare system foots the bill.
That traction has just helped it raise a $6.5m Series A, in a round led by French healthtech-focused VC Karista.
According to some reports, one in three men suffer from erectile dysfunction, but only half of them will get help. It’s what makes digital therapy — that can be done discreetly from somewhere a user feels at ease — so well suited to treating the issue, adds founder and CEO Jens Nörtershäuser.
Despite this, there are scant remote and app-based treatments for men’s sexual health problems available in Europe. Kranus compatriot Wellster raised $20m in January — although will use most of that money to launch a femtech platform alongside its established men’s sexual health offering — and UK-based Numan raised $40m in debt and equity in February.
While much of Startup Europe is becoming more cautious and dialling back on expansion plans amid global economic uncertainty, Nörtershäuser isn’t overly concerned.
“Healthcare and patient needs do not change with an economic crisis,” he said. Kranus will push ahead with its plans to double its headcount to at least 100 this year, and in 2023 has set its sights on moving into other geographies.
“We founded Kranus to be an international company,” says Nörtershäuser. “We want to repeat the success of Pfizer’s Viagra, and we can only do that if we win every large country in the world.”
Nothing is set in stone yet, he adds, and whereabouts the startup expands to next year very much depends on how regulations develop, but Nörtershäuser already has his eye on a couple of countries.
“We find the US very exciting because it’s such a big market,” he adds. “But also France, being one of the earlier followers of the DiGA law.”
Hard work pays off. Congratulations to the entire team at Kranus on your funding. I wish you the best in all your ventures.Shishir Gupta, Founder and CEO, StartupLanes
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