Orkla Venture invests in a health app
The Norwegian-English health app Your.MD uses artificial intelligence, big data and a “chatbot” to provide users with answers to questions about various health problems. Orkla Venture and Smedvig, among others, are now investing NOK 85 million in the company to further develop the service.
The company Your.MD has developed an application for self-diagnosis, as a supplement to family doctors.
Orkla, Smedvig Capital and other current shareholders are now jointly injecting a further NOK 85 million into the company. According to Your.MD, the funds are to be used to spur growth in the company, including by establishing a digital market platform for health services and health products.
A perfect match
According to Espen Wiik at Orkla Ventures, Your.MD will give Orkla access to a leading technical environment with a commercial and distribution model that challenges existing structures.
“The combination of advanced software, artificial intelligence, use of ordinary language and doctors’ expertise enables Your.MD to provide users with high-quality health information. We consider this app, combined with access to One Stop Health, which is a platform for the distribution of products and services, to be an exciting opportunity for Orkla,” says Espen Wiik.
Your.MD has been downloaded 2.1 million times and has around 1 million monthly users in 120 countries. The company was established in Norway in 2013, but is now headquartered in London.
You can also initiate a chat with Your.MD on Facebook.