Even before the launch of its digital rehab platform for stroke patients, Viennese startup myReha closes its pre-seed round with €2.2 million in fresh capital.
As lead investor, Storebox CEO Johannes Braith supports the founding team of myReha. Co-investors are a family office from the neurology sector, as well as the experienced HealthTech founders Lukas Zinnagl (Diagnosia), Sievert Weiss (Amboss), Franz Wiesbauer (Medmastery) and Stefan Speiser (Latido) as business angels. The founders receive additional funding for development from the public institutions Forschungsförderungsgesellschaft (FFG) and the Wirtschaftsagentur Wien
The funds will be invested by myReha in the further development of the product and the establishment of the sales and marketing structure for the market entry in the DACH region in early 2022.
Founded in 2020, the company focuses on speech and cognitive rehabilitation for stroke victims. Their AI-based rehab app creates a specific exercise plan for each patient that is tailored to individual needs and automatically adapts to the patient's rehabilitation progress on an ongoing basis.
This makes it possible for the first time for patients to continue their rehabilitation at home on an evidence-based level. This way, the previous gap in care after the first several weeks of rehabilitation in a hospital or the rehabilitation center can be closed. Data shows that hardly any of those affected can build on their successes made in the first few weeks due to a lack of available rehab options that offer individual and affordable care. Patients are therefore unable to exploit their full rehabilitation potential and remain much more restricted than is necessary. This prevents those affected from returning to an independent everyday life. myReha wants to counteract this and improve the living situation of stroke patients in the long term.
Market launch in the DACH region planned for early 2022
"The strong founding team and their vision to provide stroke patients with individual rehabilitation for speech and cognition at home convinced me immediately. This problem does not only affect people in Austria or Germany but many millions worldwide. Their strong focus on Machine Learning shows that they are launching their solution at the perfect time. I am happy to support the three founders with my experience in the next growth steps", says Johannes Braith, an early-stage investor with Rudolf and Franziska Fries via Hardlymountain Capital.
"We are excited to have gained Johannes Braith as the lead investor who knows how to turn a good idea into something great. His support in the next steps will help us enormously. The fact that the family office behind EVER Pharma with their experience in the neurology sector sees the potential of myReha, is both an award and an incentive for us. It is great to have two strong and different partners at our side right from the start," explains Moritz Schöllauf, CEO and Co-Founder of myReha.
The business angels Lukas Zinnagl (Diagnosia), Sievert Weiss (Amboss), Franz Wiesbauer (Medmastery), and Stefan Speiser (Latido) are experienced startup founders from the health tech sector who will provide strategic support for myReha's market entry.
The founding team of myReha consists of Mario Zusag (CTO) and the two brothers Moritz Schöllauf (CEO) and Philipp Schöllauf (CSO). As a doctor who worked with stroke patients daily, Philipp Schöllauf came up with the idea for the development of the digital medical product. Led by machine learning expert Mario Zusag (former IBM Research AI and Google AI), the development team of myReha developed novel speech analytics for self-directed rehab of stroke patients. As CEO, Moritz Schöllauf brings his experience in the banking and insurance industry as well as the European Parliament to the strategic development of the company.
About the investors
Johannes Braith is the founder and CEO of Storebox, a provider of digitized storage and logistics solutions. Together with Rudolf and Franziska Fries, he founded Hardlymountain Capital and invests in early-stage startups.
HIL-INVENT GmbH is the investment vehicle of the Hillebrand family office and has a special interest in the development of new treatment methods in neurology.
Stroke is a widespread disease that affects one in four adults in the course of their lives. In Austria, more than 25,000 people suffer a stroke every year, with around 20,000 of them subsequently requiring rehabilitation. In the entire DACH region, 250,000 more people require rehabilitation for months to years after a stroke. They become part of the current 1.5 million people who are struggling with the consequences of a stroke and need active rehab.
Studies clearly show that even after the first rehab in the hospital or the rehabilitation center, at least five hours per week of individual rehab are necessary to achieve improvements even in the long term. Since the costs for such an individual hour with speech therapists and occupational therapists are very high, the active and daily rehab for patients today ends much too early before they have exhausted their rehab potential.
With the "myReha" rehab app, which is certified as a medical device EU-wide, patients can continue their rehab at home for the first time in a truly individual way based on the needs of the patient.