Kinvent Secures €16 Million Investment in Its Third Funding Round
Kinvent, the European leader in connected physiotherapy solutions, has recently announced securing an investment of €16 million in its third funding round. This investment will enable the company to enter a new phase of acceleration, including expansion into the United States market in 2024, increased R&D activities, and a massive push into other markets. To support the company during this phase, French private investment firm Eurazeo is joining as a key partner.
The Story of the Greek-French Diamond
Founded in 2017, Kinvent’s pioneering solution brought measurable, objective data to physiotherapy, resulting in increased patient engagement, improved continuity of care, and the implementation of personalized rehabilitation programs, leading to rapid growth and expansion.
During growth in another under-connected market, Kinvent recorded an 80% increase between 2022 and 2023. Its 8 devices/sensors, which cover most tests performed during physiotherapy sessions, have attracted over 14,000 rehabilitation professionals (sports medicine specialists, general practitioners, and those working in nursing homes or post-surgery units), healthcare professionals, and even professional sports clubs, spread across 68 countries.
The company has formed partnerships with renowned clubs such as Montpellier Hérault Rugby, the French Athletics Federation, and the New York Mets, further enhancing its international visibility.
Kinvent’s Ambition to Become the Global Leader in Connected Functional Rehabilitation Solutions
Eurazeo, the private investment company leading this investment round, is dedicated to developing health sectors in France. The fund acquires a minority stake in the company, alongside existing minority shareholders, including Uni.Fund, Sofilaro, BADGE, and Raphael Varane, among others.
With this latest investment, Kinvent aims to conquer the global physiotherapy device market, starting with entry into the U.S. market. To achieve its ambitions, Kinvent can rely on the expertise and experience of the Nov Santé team in structuring rapidly growing companies and implementing an extensive commercial development plan.
“Our teams are excited to welcome Eurazeo, a leading investment player, to build together toward the goal of becoming the global leader in connected physiotherapy solutions for physiotherapists and sports professionals. We are at a pivotal stage in our journey, in a rapidly expanding market, and we are confident in the Nov Santé team’s ability to accompany Kinvent’s growth, with their healthcare market knowledge and in-house expertise,” says Athanasios Kollias, President and Founder of Kinvent.
“Nearly three years after the launch of our fund and a start in developmental capital, we are opening a new chapter with our first Growth Equity deal. We are very proud that Kinvent chose us as the lead investor. The company’s specialization, its position as a leader and innovator, and the quality of its management team convinced the entire Eurazeo team. This investment perfectly aligns with Nov Santé’s strategy to participate in the digitization of a healthcare profession and accelerate the transformation of French and European SMEs,” adds Arnaud Vincent, CEO of the Nov Santé Fund at Eurazeo.
Uni.Fund, a Greek venture capital investment fund, which was the first investor in the company, also participates in this round through its second fund, Uni.Fund II. “At Uni.Fund, we are thrilled to watch the exceptional journey of a promising startup we discovered five years ago in the vibrant tech hub of Thessaloniki. Their exponential growth and the disruption they are bringing to the healthcare sector have made them a strong force in the industry. With Eurazeo’s strategic support, we are confident that this trajectory will not only continue but accelerate. Our mission remains clear: to seek, support, and scale Greek tech champions, transforming them into global leaders. As Uni.Fund II commits to this funding round, we look forward to Kinvent’s upward trajectory as the leading player in its field. The team can count on our unwavering support as they move forward in this exciting new chapter,” says Konstantinos Lafka, Partner at Uni.Fund VC and Board Member of Kinvent.
About Kinvent
Founded in 2017 by Athanasios Kollias, a former top-level athlete, Kinvent transforms the practice of physiotherapists and trainers through the collection and analysis of biomechanical data. With its commercial base in Montpellier and production facilities in Thessaloniki, the company designs, develops, and manufactures a range of connected devices that instantly measure strength, balance, and range of motion via a unique application for sports performance, rehabilitation, and medical industries.
Key Facts:
– 75 employees
– Presence in 68 countries
– 57% of revenue from international markets
– 8 connected sensors linked to a proprietary app
– 14,000 equipped physiotherapists
– 250,000 patients
