Elfie, a startup in the field of digital medicines, is aiming to collect $4 million for its series A investment.
The program comes after Elfie, which was listed in Tech in Asia’s list of fundraising companies, reported US $1 million in annual recurring income less than 12 months after its establishment.
Elfie’s platform, serves as a chronic disease management system and pays users for keeping track of their own health. Among other functions, the free app assists patients by creating tailored health plans.
The company rewards users with “Elfie coins” for each engagement on the app, granting them access to gift cards, deals, and even free goods and services.
Elfie, which was established in 2020 by Ofir Ejnes and Jean-Francois Legourd, claimed that several international medical groups had already endorsed their approach. Since its founding, Elfie has grown to include Vietnam and Brazil.
The business received $1 million in pre-seed capital from FEBE Ventures last year.
The health-tech market, which had a 2021 valuation of US $175.6 million, is anticipated to increase at a CAGR of 27.7%.