The London-based startup, Holly Health, has secured £650,000 in a recent funding round, combining equity investment and grant funding. The funding, including support from Innovate UK’s Future Economy Investor Partnerships scheme, underscores Holly Health’s commitment to addressing the pressing issue of multimorbidity, a condition affecting over a quarter of adults in the UK.
Multimorbidity, the coexistence of multiple chronic health conditions in an individual, is on the rise, affecting more than 25% of adults in the UK. This surge places an unprecedented burden on the National Health Service (NHS) resources. In response to this growing challenge, Holly Health, founded by a team of psychology and healthcare professionals, has developed a revolutionary app tailored to provide coaching and support for those facing the complexities of multimorbidity.
Partnering with over 150 General Practitioners (GPs), Holly Health is on a mission to alleviate the pressure on the NHS by offering personalized support for multimorbidity sufferers in the comfort of their homes. The app employs a proprietary AI chatbot, utilizing advanced technology to coach users on lifestyle modifications that can mitigate the harm caused by their concurrent health conditions.
Grace Gimson, co-founder and CEO of Holly Health, expressed the company’s dedication to innovation and addressing critical healthcare challenges. “At Holly Health, we have supported over 30,000 people so far and are committed to innovating to solve our biggest human and healthcare challenges,” said Gimson.
Strategic Funding and Partnerships
The £650,000 funding comes at a pivotal moment for Holly Health. Innovate UK, the national innovation agency, played a crucial role by providing grant funding through the Future Economy Investor Partnerships scheme. Strategic investments also flowed in from Modality Partnership, a network of GPs, indicating strong support from the healthcare community. Additional contributions came from the Innovation SuperNetwork and Plug and Play Ventures.
Gimson emphasized the significance of this funding, stating, “This funding marks a pivotal moment – with the support of Innovate UK and the strategic investment from Modality Partnership, we are empowered to combat the complex and unresolved challenge of multimorbidity.”
This recent funding round follows Holly Health’s successful £1.4 million fundraising in July 2022. The ongoing support from investors and grant providers highlights the confidence in Holly Health’s vision to revolutionize healthcare delivery for individuals grappling with multimorbidity.
As the digital health landscape continues to evolve, Holly Health stands out as a beacon of innovation, leveraging AI to address one of the most pressing healthcare challenges of our time. With the recent injection of funds, the company is poised to expand its reach and impact, offering hope to the growing number of individuals dealing with multimorbidity and contributing to the broader effort of alleviating the strain on healthcare systems worldwide.
