40 million US dollars for Healthtech Wellster

Tom Schmidtgen Tom Schmidtgen | 21.06.2021

The lead investor is the Bavarian pharmaceutical company Dermapharm. Wellster aims to become the leading healthcare platform outside North America.

Munich-based healthtech Wellster has closed a $40 million (equivalent to €35 million) funding round. The round is led by pharmaceutical company Dermapharm, based in Grünwald, Bavaria. Existing investors HV Capital, the investment arm of Holtzbrinck, as well as SevenVentures from ProSiebenSat1 and Munich-based Ferber & Co are also increasing their investment.

Wellster has been operating a health platform since 2018, offering medical self-tests for intimate health on gospring.de and for hair loss on myspring.com, among others. Similar business models already exist in the US with the brands Hims and Roman. Wellster now wants to use the money to expand its offering to other diseases and thereby reach new target groups. "The funding round comes at a key moment in our development," said Manuel Nothelfer, co-founder of Wellster. "It confirms our ambition to establish leadership in the European market and expand our offering to more target groups in the future, closing existing gaps in care."

Wellster also partners with pharmacies that can sell appropriate medications and therapies to patients. "Our multi-platform strategy allows us to tailor personalized treatments to individual target groups," says Nico Hribernik, co-founder at Wellster. "This allows us to better address individual health issues, ultimately leading to improved treatment success as well as increased patient confidence."


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SevenVentures
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