Aiming to empower remote patient engagement in physiotherapy, French startup Axomove has raised €1.6 million for its digital health platform. The company is enabling better patient follow-up and compliance with self-rehabilitation exercises.
Innovation in healthcare is continuing to be a growth area, and one key pattern is the development of digital health solutions that make managing health easier for both doctors and patients. Bringing digital solutions to physiotherapy treatments, French startup Axomove has just raised €1.6 million.
The funding was led by Spanish fund Faraday Venture Partners, homecare group Santélys and Groupe JLO, a company that specializes in health and quality working environment.
Founded in 2017 by Pierre-Yves Carlier, a physiotherapist, and Boris Leveque, a former professional handball player, Axomove was created with the vision to reimagine physiotherapy and rehabilitation. The goal is to improve patient follow-up and compliance with self-rehab exercises through adopting digital technology.
The company has developed a remote physical therapy solution that boosts remote patent engagement and is available for hospitals, rehab centres, and insurance companies. It enables doctors to ensure that their patients are following treatment correctly to avoid relapses and the deterioration of their condition, without the need for them to travel to the centre on a regular basis – improving time efficiency. For companies, it helps employees with musculoskeletal disorders reduce physical pain through therapeutic movements, offering preventative care solutions.
With this new funding, the startup will roll out its e-health solution on a large scale to its main target customers. Priorities also include strengthening the sales team, enhancing investments in the medico-economic evaluation and reinforcing the therapeutic education content. The company will also continue its R&D efforts to develop new functionalities for patients and practitioners with motion capture technology.
François Xavier Fanard, Managing Director of Faraday Venture Partners, said: “From the very first discussions, we were charmed by Axomove’s approach to tackling musculoskeletal disorders (MSD). Indeed, their digital solution, combined with telehealth consultations, is an effective response to the needs of patients in rehabilitation as well as a tool that allows employees to prevent any risk of MSDs with ease. The quality of Axomove’s solution, the professionalism and attentiveness of the team, and their desire to help promote well-being and healthy living for all are some of the arguments that convinced us to support Axomove in its growth.”
Clément Morel, President and co-founder of Axomove, added: “We are delighted to have brought around the same table very complementary investors; on one hand a financial fund of European dimension and, on the other hand, two corporate funds totally aligned with our ambitions in the field of prevention and physical health rehabilitation. In addition to their financial support, this combination of expertise will enable us to progress faster in our two key markets.”