Echo founders Stephen Bourke and Sai Lakshmi
The NHS-focussed medication management app will use the funding to accelerate its ambitious growth plans.
Healthtech start-up Echo has raised a whopping £7m in a Series A funding round led by White Star Capital.
Other participants in the round include MMC Ventures, LocalGlobe, Global Founders Capital, Rocket Internet and Public.io.
The NHS spends almost £18bn a year on medication, but it is thought that between a third and a half of all medicines prescribed for long-term conditions are not taken as recommended.
Echo removes the barriers to medication adherence, making it easy for patients to order repeat prescriptions via smartphone and have medication delivered for free. Medication is dispensed via Echo’s network of community pharmacies.
Available for free on iOS, Android and via the official NHS app store, Echo works with with 90% of NHS England GP surgeries and has smart reminders to alert people when to take their medication and when they are running low.
Sai Lakshmi, Echo co-founder and CEO, said: “White Star Capital brings decades of experience to scaling digital businesses and we’re excited to work with them on Echo’s next stage of growth. Our relentless focus on user experience has created a service that improves our quality of life while saving money for a cash-strapped NHS.”
He added: “As someone who uses inhalers to manage my asthma, Echo has simplified a confusing and fragmented monthly chore. With these funds we plan to invest in further R&D, build out our engineering team and scale the business, working with colleagues across the NHS and primary care.”
This investment follows a £1.8m seed round from LocalGlobe, Global Founders Capital and Rocket Internet in 2016.
It will also see Christian Hernandez, a managing partner at White Star Capital, join the Echo board.
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