SpinLab Alumni, myo, secures €10.5 Million in Series A funding round

myo was part of the 8th SpinLab class. Photo: myo

TVM Capital Life Science, a leading transatlantic venture capital firm focused on investments in life sciences innovation, announced the closing of a Series A financing round for myo, a pioneering Berlin-based digital healthcare startup. TVM led the round, investing €8 million. The proceeds will be used to further grow the business in the DACH region as well as in the UK. This will include expanding marketing capacity and enhancing service quality for existing customers, as well as developing new modules. Dr. Sascha Berger, General Partner, and Stefan Fischer, Managing Partner (Finance) of TVM, will join the myo Board of Directors.

myo was founded in 2018 with the goal of relieving employees in care homes through digital solutions and bringing more transparency, participation and appreciation to the sector. The company’s communication app enables care facilities, families and service providers to communicate with each other easily, quickly and digitally. Families are able to participate in their loved ones' everyday lives by receiving pictures, videos and documents as well as making video calls. Additional modules for the app simplify important but time-consuming administrative tasks, including ordering meals, monitoring complaints, and managing key external services such as laundry providers and pharmacies. This saves time and money and improves documentation. myo services approximately 400 customers in the DACH region and the UK.