Velocity Health - Q2 2017 update

TL;DR

A startup recently closed a successful funding round, partnered with the NHS to help diabetics, and developed an app to support people in quitting smoking.

Transcript

but we just closed funding round at the end of April which is fantastic raise 500 20k from four different institutional so wire back of green ventures 500 startups and pioneers ventures from the Europe and from the E and then the rest of the money was from about 10 or 12 different angel investors so yeah really really exciting so we've got the the ... Read More

Key Insights

• 😤 Successful funding round enables the startup to expand its team and product development.
• 👻 Partnership with the NHS allows the startup to improve diabetes control for individuals in Northwest London.
• 🧑‍⚕️ The Health Box containing various tools and wearables supports participants in achieving their health goals.
• 🚬 QuitGenie, the new smoking cessation app, provides accessible behavioral support to help individuals quit smoking.
• 🥶 The startup aims to make a positive impact on public health by making the world smoke-free.
• 😤 Expanding the team with developers, designers, and doctors enhances the startup's capabilities.
• 👤 The app's user-friendly interface and engaging format make it appealing to potential users.

Questions & Answers

Q: Can you provide details about the startup's funding round and investor involvement?

The startup raised $520,000 in funding, with $500,000 coming from four institutional investors and the rest from angel investors. This funding allows for team expansion and further development of their products.

Q: How is the startup assisting individuals with diabetes through their partnership with the NHS?

Through their partnership with the NHS, the startup is providing support to 200 people in Northwest London to improve diabetes control. This includes dietary recommendations, increasing physical activity, and potentially reducing the need for medication.

Q: What does the startup's "Health Box" contain?

The startup sends a "Health Box" to program participants, containing an activity tracker, a handbook, a recipe book, and smart wearables. The wearables have pre-configured settings and a 3D SIM card, making them user-friendly and motivating for individuals.

Q: How does the smoking cessation app, QuitGenie, work?

QuitGenie is based on proven cognitive behavioral therapy techniques to help individuals quit smoking. The app includes animated videos, personalized support, and aims to change users' mindset towards smoking.

Summary & Key Takeaways

• The startup closed a funding round in April, raising $520,000 from institutional and angel investors, allowing for team expansion.

• They secured a contract with the NHS to provide diabetes management support to 200 individuals in Northwest London.

• The startup developed an app called QuitGenie, utilizing cognitive behavioral therapy to help smokers quit, with a public launch coming soon.