Elsa Science in a SEK 38.7 million deal backed by Healthcap.

Elsa, a Stockholm, Sweden-based startup building a medical platform designed to help people manage chronic illnesses, raised SEK 38.7 million ($4.5M).

The money was provided by investors from Sweden led by Healthcap and joined by existing shareholders Inventure, Crowberry Capital from Iceland, Norrsken Foundation through Norrsken VC and Noaber Foundation.

Elsa, founded in 2017 by CEO Sofia Svanteson, Sofia Svanteson, Sebastian Evans, Pelle Almquist, Lovisa Afzelius, Lars Alfredsson, Lars Klareskog and the Riskminder Foundation, developed a digital platform aiming to provide individualised health advice for people suffering with rheumatoid arthritis - a disease that affects about 1% of the world population. The access is free for consumers as the company's model is working with pharma companies looking for new sales channels.

Prior to this round, Elsa raised angel money in 2018 and $2.2 million in 2020.