Danish healthtech startup Dawn Health raises $25m investment to revolutionize digitalization of global life science industry
Dawn Health, a global leader in digital health, received $25 million investment from a consortium of highly experienced investors. The consortium counts Chr. Augustinus Fabrikker, Vaekstfonden - The Danish Growth Fund, and Lars Marcher.
The investment will further accelerate the growth of Dawn Health in the rapidly expanding market for digital therapeutics and software as a medical device. With the investment Dawn Health is set out to transform the global health tech industry, and Denmark has a unique potential within this sector.
Daniel Gewecke Daugaard, Founder & CEO, Dawn Health: "Throughout the last century, Denmark has established an impressive life science industry. At the doorstep to 2022, digital health is disrupting the traditional delivery models of healthcare services - responding to the needs of digital citizens demanding change and empowerment. In Dawn Health we are determined to spearhead this digital revolution and co-create a new normal for patients with serious chronic diseases. Our new investment will pave the way for development of ground-breaking digital health innovations - executed in close collaboration with a broad portfolio of international life science partners."
Since 2016, Dawn Health has established a unique process landscape and certified quality management system that allows for agile development of highly regulated software products. This capability has fueled rapid growth and caries the potential to make Dawn Health a global leader in development of life-changing digital health software products targeting patients with chronic diseases. Over the next 4 years Dawn Health will deploy an ambitious investment strategy to further accelerate its growth and international footprint. And this has caught the eyes of the investors:
Claus Gregersen, CEO, Chr. Augustinus Fabrikker: "Digitization of medical devices is a global megatrend, and Dawn has both the knowledge and ambitions to play an important role. We are very impressed with the team behind Dawn Health, and we look forward to help realizing the great potential of digital healthcare products for the benefit of us all. Investments in ambitious Danish startups are an important part of Chr. Augustinus Fabrikker's scale investment strategy, and we have allocated more than DKK 1 billion to new innovative companies with an international outlook such as Dawn Health."
In 2022, Dawn Health plans to receive certification to function as a legal manufacturer of medical devices on behalf of partners in the life science industry. In tandem, Dawn Health is developing a generic platform for accelerated delivery of regulated medical device software products. Combined, these strategic capabilities aim to revolutionize digitalization in the life science industry by reducing the development cycle of regulated digital health products from years to months - a strategic capability that will drive increased competitiveness and result in improved patient outcomes derived from medicine working in tandem with emerging technologies.
Rolf Kjærgaard, CEO, Vaekstfonden: "Denmark has a unique potential to create new market leaders within the global health tech industry, and Dawn Health is a prime example of this. Digitizing the health sector is crucial for creating a stronger and better global healthcare system. And we need innovative companies like Dawn Health to drive this transformation. That is why we are excited to be able to back Dawn Health's journey towards becoming a global market leader, building on their strong roots in Denmark and the local ecosystem."
The first international customers have already embarked on Dawn Health's regulated software platform, and next year the company aims to double its workforce while maintaining ambitions to reach triple-digit growth rates. Following the investment, Lars Marcher will assume the role as Chairman of the Board of Directors, accompanied by John Rubek Lauritsen from Chr. Augustinus Fabrikker and Mads Lacoppidan from Vaekstfonden.
Investor Lars Marcher joins the company as Chairman of the Board and has high expectations to the future of Dawn Health: "Dawn Health is a unique company with a strong innovation platform with high global scalability in the rapid changing space of digital health. With significant opportunities, strong leadership and dedicated employees I look forward to the transformative journey together with my highly experienced board colleagues."
The new investors will join the existing owners of Dawn Health, which was founded jointly by Daniel Gewecke Daugaard and provider of NextGen IT services and solutions Trifork in 2016, with a vision to become a global lighthouse for digital health in the life science industry.
Jørn Larsen, CEO and Founder, Trifork: "It has been an amazing journey with Dawn Health so far, and we are very pleased to welcome this strong team of investors to help taking Dawn Health to the next level. Together they bring a lot of experience, connections, and insights, which will contribute to accelerate growth even further. We are looking forward to continue to support Dawn Health and to working closely together with the new investors in unfolding the potential of executing on this exciting and rewarding journey."