Munich—Global law firm Dentons advised Munich-based healthcare start-up Kaia on a financing round. Lead investor is the London-based venture capital firm Balderton Capital, which has invested in more than 100 companies and currently manages more than US$2.6 billion in assets. Existing shareholders and several business angels also participated in the funding round.

Kaia, which was founded in 2015 by Foodora founder Konstantin Mehl, offers an innovative app for the treatment of back pain that provides an individual workout schedule, enabling patients to learn effective exercises for pain relief that can be done at home without any equipment. The fee-based app was developed in cooperation with renowned pain experts from Klinikum rechts der Isar in Munich and is already being used by 250,000 patients. Several health insurance companies are covering the costs for their clients.

Apart from Munich, the company opened a second office in New York last year. With the newly raised capital, the start-up intends to expand its presence on the American market.

Konstantin Mehl, founder & CEO of Kaia Health, said: "Dentons has significantly supported us in closing the financing round in a very short time. The direct support by Thomas Strassner significantly unburdened us as founders, so that we were able to concentrate on the day-to-day business, even during the financing round".

A Dentons team led by partner Thomas Strassner provided Kaia with legal advice on all aspects of the financing round. Strassner and his team regularly advise both investors and companies on venture capital transactions, in particular in the life sciences and technology sectors.

Advisors of Kaia Health:

Dentons (Munich): Thomas Strassner (Lead Partner), Christopher Mayston (Partner), Christine Herkommer (Senior Associate), Michael Singer (Associate, all Corporate/M&A, Private Equity/Venture Capital)

Dentons (Frankfurt): Valeria Hoffmann (Senior Associate, Corporate/Data Protection)