SeedBlink Blog

Europe’s healthcare sector is transforming technologically, driven by major challenges, supportive policy shifts, and continued innovation in digital health, med tech, and physician support.

In this article, we examine the current state of Health Tech in Europe, what’s growing and slowing, and where funding is flowing. We also provide insights on private equity trends, digital health deal activity, and the stages of capital attraction.

From spotlighting the top VC funds investing in the region to showcasing active SeedBlink fundraising rounds and key segments like physician support tools and treatment assistance, this piece is designed to help HealthTech founders align with market trends and connect with the right partners.

The State of HealthTech in Europe

The European Union has been actively supporting the digitalization of healthcare systems across member states, especially since the COVID-19 pandemic highlighted the urgent need for digital tools in health services. EU policy frameworks like the Digital Decade and the European Health Data Space (EHDS) were introduced to provide clear targets, such as ensuring 100% of EU citizens have access to their electronic health records by 2030.

While the EU's role is primarily supportive, these initiatives have shifted from voluntary cooperation toward more binding commitments among member states, accelerating the adoption of eHealth services like ePrescriptions, telemedicine, and patient summaries.

EU funding has played a key role in enabling HealthTech advancements, with over €16 billion allocated through programs like the Cohesion Policy and the Recovery and Resilience Facility between 2014 and 2027. Most member states reported that EU funds aligned well with their healthcare digitalization needs, supporting investments in electronic health records, ePrescriptions, and remote healthcare services.

In 2024, fundraising for Digital Health deals in Europe continued its downward trend. The deal count fell to 258, the lowest in five years, despite a slight funding increase to $2.8 billion. This marks a 56% drop in deal volume from the 2021 peak, reflecting ongoing investor caution in the sector.

Source: CB Insights 2025 — State of Digital Health Report

In 2024, early-stage deals continued to dominate Europe’s digital health landscape, making up 72% of all deals, consistent with previous years. Meanwhile, mid-stage deals rose slightly to 14%, while late-stage activity remained subdued at just 8%, reflecting a cautious investment environment for more mature companies.

Source: CB Insights 2025 — State of Digital Health Report

In the private equity sector, the volume of European healthcare reached a record high, exceeding the previous peak set in 2021. With 136 deals projected for the year (including annualized estimates), the increase was driven by a higher number of smaller transactions, particularly in the biopharma and MedTech sectors.

Source: Global Healthcare 2025 — Bain & Company

Notable deals included Novo Holdings’ acquisition of Single Use Support and Ardian’s acquisition of Masco Group, both targeting firms providing specialized equipment and materials for pharmaceutical production. Despite a global slowdown in pharma R&D spending, pre-clinical and antibody development activity continued.

Top European VC funds investing in HealthTech startups

CEE (Central and Eastern Europe)

APEX Ventures (Vienna, Austria) — An early-stage deep tech fund investing in defensible IP across healthcare and diagnostics, with a strong geographic focus on the CEE region.

Vinci S.A. (Warsaw, Poland) — A Polish investment firm funding early to growth-stage high-tech startups across biotech and IT, focusing on commercialization, scientific innovation, and international expansion.

DACH (Germany, Austria, Switzerland)

Ananda Impact Ventures (Munich, Germany) — An impact-driven fund supporting HealthTech startups tackling sustainability, AI-driven care, and social innovation across DACH and Northern Europe.

Thuja Capital (Utrecht, Netherlands) — A healthcare-focused VC firm investing from early to late stages in biotech, MedTech, and digital health across Europe, with a strong foundation in the Benelux region and a focus on clinically validated, high-impact innovations.

BENELUX (Belgium, Netherlands, Luxembourg)

EIT Health (Brussels, Belgium) — A major EU-backed network that funds and accelerates healthcare innovation across Europe, including targeted HealthTech investments.

Forbion Capital Partners (Naarden, Netherlands) — A leading biotech and MedTech fund with a broad European focus, backing transformative innovations from early to growth stage.

If you are the founder of a HealthTech startup looking to understand the European venture capital landscape better and connect with relevant investors,

explore our database of European VC funds

actively investing in the sector.

The HealthTech rising stars from the SeedBlink community

Here is a snapshot of HealthTech startups that have raised funding rounds through SeedBlink.

• Brainhero - An Austrian Health Tech startup founded in 2018 that offers a B2B neurotherapy solution aimed at improving brain function for individuals with neurological conditions.
• Brightmind.ai - An Austria-based platform developing personalized brain stimulation solutions to improve everyday life.
• Capital Cell - A Spain-based B2B platform launched in 2015, positioned as Europe’s leading equity crowdfunding solution for biotech and healthcare investments, focusing on high-impact, high-return opportunities.
• Easee - A Netherlands-based late-seed company delivering online vision tests and eye health diagnostics for B2B partners.
• Giles® - An UK-based HealthTech startup founded in 2023 that has developed an AI-powered agent designed to accelerate clinical, medical, and healthcare research. Operating on a B2B model and already post-revenue.
• inHEART - A late-seed French startup offering AI-powered cardiac imaging to support interventional planning.
• InteroCloud - An Irish platform that simplifies and enhances the communication between doctors and patients, making the healthcare journey more seamless.
• Medic Chat - A Netherlands-based pre-seed platform connecting patients with verified medical professionals for fast consultations.
• MindAhead - A German company offering a digital therapy solution for early-stage dementia, to support cognitive health through personalised treatment.
• Mindgram - A Polish Series A company providing mental wellness tools for employees via a B2B2C model.
• SanoPass - A Romanian HealthTech platform offering digital access to medical and wellness services, now exited.
• Sendance - An Austrian startup offering B2B solutions that use wearable sensors to collect and analyse health data for improved patient monitoring and movement analysis.
• Telios Care - A Romanian-based Seed startup offering telemedicine services to employers and insurers in Eastern Europe.
• VoxiKids - A Romanian solution that offers digital products bringing together speech therapists and parents to benefit child recovery.

The growth of healthcare data

Healthcare data is growing faster than in any other industry. Global volumes are expected to rise from 2,300 to 10,800 exabytes between 2020 and 2025, a compound annual growth rate of 36%. Data from hospitals, clinics, and patient-generated sources like wearables drive this rapid increase.

Source: Smart Solutions in Healthcare - Speedinvest & Dealroom

AI technologies in healthcare are showing strong potential to benefit patients and practitioners by boosting clinician productivity by up to 40%, particularly through decision support and automation of routine tasks. As healthcare productivity has declined over the past 30 years, this improvement is timely and crucial.

AI tools help enhance care delivery by synthesizing data, supporting diagnoses, and streamlining administrative work. According to Deloitte, AI could save 400,000 lives annually, generate €200 billion in yearly savings, and free up 1.8 billion hours of clinician time each year.

Source: The socio-economic impact of AI in healthcare

In 2024, European physician support tools raised $0.6 billion in VC funding, well below previous years and unlikely to match the peaks of 2021 or 2022. Physician support tools now represent 26% of all digital health VC rounds in Europe, steadily rising from 23% in 2020. This growing share highlights increasing investor interest in tools that enhance clinical efficiency and decision-making within the broader digital health ecosystem.

Source: Smart Solutions in Healthcare - Speedinvest & Dealroom

According to the same report, future investment in European physician support tools is likely to concentrate on treatment assistance and clinical decision support, which are leading both in funding and growth, up 55% and 17% respectively.

In contrast, segments like remote patient care, training, and supply chain tools are seeing sharp declines, showing us a shift in investor focus toward technologies that directly support clinical interventions and diagnostics.

Tap into the next HealthTech opportunities

If you're an investor looking to get in early on the next big thing in HealthTech, keep an eye on SeedBlink’s startups. You'll get access to early-stage ventures transforming healthcare, a clear and straightforward investment process, and a smart way to diversify with cutting-edge medical tech and digital health solutions.

Are you a founder building something exciting in Health Tech that needs funding? SeedBlink has your back, from syndicated investments within your network to cap table clean-ups, strategic fundraising support, and crowdfunding.

And hey, if you want to improve your pitch deck, why not try our AI pitch review tool? Sign up on SeedBlink, start your 14-day Free Trial, and polish that pitch for free.