MySugr, a start up from Austria, has just announced that it has raised an undisclosed amount from Berlin-based accelerator XLHealth. XLHealth is the venture vehicle of the CEO of CompuGroup Medical, the European market leader in physician IT software.
Compared to other competitors, like Glooko in the US, MySugr’s Companion is FDA approved, CE certified although it is currently only available as a software-only product. The app is crafted with a love for detail and is currently boasting 100.000 users. Among various competitions it has gained quite some recognition from VC funds and has also won the start up competition at the renowned Pioneers Festival in 2011. MySugr can also claim Tim Ferris as one of its advisors.
Although starting out from tiny Austria, the company has a global approach and aims to conquer diabetes and its clinical effects around the world. The money will mainly be used for further product enhancements and internationalization. The mobile app is available as a premium app at App stores and is primarily monetizing through partnering with pharmaceutical companies, such as Sanofi-Aventis.
If you are a diabetic you should definitely give it a try – it’s worth it.
Disclosure: Franz Wiesbauer is an advisor to MySugr