Tonic App raises €10.85 million

The Portuguese digital health startup Tonic App has raised €10.85 million in a new Series A investment round.

The amount raised will permit the company to reinforce its investment in AI and allow it to enter new markets.
“With this capital, the startup aims to become the first medical platform with a footprint in the five main European health markets: Spain, Italy, and France, where it already operates, followed by the United Kingdom and Germany, countries it will enter over he next two years”, states the startup co-founded by Daniela Seixas in 2016.
The investment round — the third that the company has raised, was led by BlueCrow Capital and Iberis Capital. The startup also raised top-up investment from Vesalius Biocapital III, Armilar Venture Partners and Portugal Ventures (its first investors), as well as from Shilling VC and FSNB Heath & Care.
Daniela Seixas told Negócios that the “amount and timing of the round gave the startup a competitive advantage in relation to competitors”.
“Soon we will be present in the UK, which is planned for this year, and in Germany which we’re preparing for 2025”, she said, adding: “getting venture capital these days is more difficult”.
Tonic App launched an application with the same name in 2017 which aggregates content and tools aimed at health professionals.