Min Doktor Valuation, Funding & Investors

Min Doktor is valued at $204M as of April 2022.

Last Min Doktor valuation

$204M

Undisclosed stage · Apr 2022

Last Min Doktor funding round

$12M

Undisclosed stage · Apr 2022

Cumulative funding Min Doktor raised

$129M

across 8 funding rounds

Key investors in Min Doktor

  • EQT Ventures
  • Swedbank Robur
  • Inbox Capital
  • Otiva
  • ICA Gruppen
  • Christian W. Jansson

Min Doktor Overview

About Min Doktor

Min Doktor is a Lund-headquartered telemedicine provider in Sweden connecting patients with licensed physicians via video consultations on demand, streamlining access to primary care through familiar digital interfaces.


Founded

2013

HQ

SwedenLund

Status

Privately held

Customer focus

B2C

Revenue model

Services

Valuation

$204M (Apr 2022)

Min Doktor Valuation

Min Doktor is currently valued at $204M, based on its undisclosed-stage round in April 2022. Read the announcement ↗

The $12M round included Swedbank Robur.

Min Doktor valuation by funding round

Min Doktor valuation by funding round
DateStageValuation
Apr 2022Undisclosed stage$204M

Min Doktor Funding History

Min Doktor has raised a total of $129M across 8 funding rounds.

Min Doktor's first fundraising round was a $3M seed round in October 2015. The most recent completed round was a $12M undisclosed-stage round in April 2022.

Min Doktor funding rounds

Min Doktor funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2022Undisclosed stageSwedbank Robur$12M$204MMin Doktor took in a further SEK 120 million from its existing owners, with Swedbank Robur's Ny Teknik fund and pharmacy chain Apotek Hjartat both subscribing. The digital healthcare provider was valued at around SEK 2 billion in the transaction. It followed the SEK 280 million round the same investors had backed in late 2020 and was raised without new outside shareholders joining.
Nov 2020Undisclosed stageSwedbank Robur$33M-Min Doktor raised SEK 280 million in a financing round in which Swedbank Robur's Ny Teknik fund came in as a new shareholder. Existing owners Apotek Hjartat, EQT Ventures and Carl Westin Ltd also participated in the issue. The proceeds were earmarked for continued growth of the digital-physical healthcare provider in Sweden and for further development of its clinical platform.
Feb 2020Series A-$8M-Min Doktor is a Malmö, Sweden-based digital healthcare provider founded in 2013 by Magnus Nyhlén and led by CEO Jonas Vig, offering healthcare services both online and on-site throughout Sweden. The company secured an extension round closing at the end of 2020, including an additional SEK 120 million ($12.5M) from existing investors such as Swedbank Robur, Apotek Hjärtat, EQT Ventures, and Carl Westin Ltd, as part of a total $32 million financing effort. Prior to 2020, Min Doktor had raised about $80 million in capital funding. In the last recorded fiscal year 2020, Min Doktor produced sales of SEK 258 million ($27M). The company had previously raised more than $70 million from investors including Apotek Hjärtat, EQT Ventures, and Inbox Capital.
Sep 2018Undisclosed stageICA Gruppen$38M-Min Doktor, a Malmö-based digital primary care provider founded in 2013, entered an investment agreement with ICA Gruppen in September 2018, involving a SEK 335 million ($37 million) cash capital contribution and the transfer of Minutkliniken, valued at SEK 225 million ($25 million), to Min Doktor. Post-deal, Apotek Hjärtat (part of ICA Gruppen) owned 42% of Min Doktor, with 58% held by other shareholders including EQT Ventures. Minutkliniken, a walk-in clinic service offering vaccinations and basic care adjacent to pharmacies and ICA stores, became part of Min Doktor to expand physical presence alongside digital services. The investment supported rapid expansion of clinics, primarily next to ICA stores, with funds covering operational needs for coming years. Min Doktor had handled over 200,000 digital visits in the prior 12 months and raised about $40 million in venture funding since inception. Minutkliniken served over 100,000 customers in the last 12 months across eight locations. The deal was completed after regulatory approval from the Swedish Competition Authority in late 2018, with ICA Gruppen's stake reported as an associated company of Apotek Hjärtat.
May 2017Series BEQT Ventures (lead); Inbox Capital$25M-Min Doktor, a Malmö, Sweden-based digital health startup founded in 2013 by Magnus Nyhlén, developed a platform for doctor-patient communications via voice, video, and text, enabling prescriptions as Sweden's first digital private healthcare provider. In a Series B round around May 2017, it raised SEK 218M ($25M) from existing investors including EQT Ventures as lead, Inbox Capital, Filip Engelbert, Jonas Nordlander, and HealthCap, following prior funding of about $14M. The funds were earmarked for market expansion. Earlier, it had raised another €5M with EQT Ventures leading, highlighting appeal due to its founder-practitioner's perspective and efficient care model reducing GP time per patient. Post-2017, Min Doktor saw strategic developments including Apotek Hjärtat acquiring 42% of its Swedish operations in September 2018 for SEK 335M (approximately €35M), which included valued clinics at €20M, to support opening 80 physical clinics (13 opened, 7 more planned). Total funding reached $83.84M over multiple rounds, with later events like an Acq - Fin - II for $12.62M in April 2022 from Apotek Hjartat. EQT Ventures, from its 2016 €566M fund, made minority investments in companies like Min Doktor. The company competed in healthtech amid peers like Sweden's Kry (Livi), which raised €53M in 2018 at ~$400M valuation for European expansion. Min Doktor faced scaling challenges, with investors like EQT Ventures avoiding majority stakes to remain minority backers in fast-growing tech firms.
Dec 2016SeedChristian W. Jansson; EQT Ventures$5M-Min Doktor, a Malmö-based Swedish digital healthcare startup founded in 2013, provides online doctor's visits via an app supporting messages, phone, or video consultations, with doctors issuing diagnoses and prescriptions directly to mobiles. The company raised €4.7 million in December 2016 primarily from existing investors including EQT Ventures and Christian W. Jansson. This round coincided with a CEO change as shareholders sought new leadership for growth. Min Doktor was among EQT Ventures' first investments from its €566 million fund launched in 2016 to back fast-growing European tech companies. The startup later expanded, with Apotek Hjärtat acquiring 42% of Swedish operations for SEK 335 million in September 2018. Subsequent financings included a November 2020 round at $231.35M valuation and an extension of a $32 million effort in 2020-2021 raising SEK 120 million from investors like EQT Ventures. Min Doktor generated SEK 258 million in sales in fiscal year 2020 prior to later deals.
Feb 2016Series AEQT Ventures (lead)$6M-Min Doktor is a Swedish digital healthcare provider based in Malmö that offers online and on-site medical services, allowing patients to communicate with doctors via messaging, phone, or video for diagnoses and prescription delivery. Founded in 2013 by Magnus Nyhlén and led by CEO Jonas Vig, the company developed a telehealth app as part of the broader healthtech ecosystem supported by venture capital investors including EQT Ventures. In September 2018, pharmacy chain Apotek Hjärtat acquired a 42% stake in Min Doktor's Swedish operations for approximately €35 million, signaling both investor confidence and later scaling challenges as the company attempted to expand its physical clinic footprint across Sweden and Europe.
Oct 2015SeedOtiva$3M--

Who has invested in Min Doktor?

6 investors have backed Min Doktor across its funding rounds, including EQT Ventures, Swedbank Robur, Inbox Capital, Otiva, ICA Gruppen and Christian W. Jansson.

Lead investors include EQT Ventures.


Min Doktor Investors

Investors in Min Doktor by funding rounds participated
InvestorHQRoundsRoleFirst check
EQT VenturesSwedenStockholm3LeadFeb 2016
Swedbank RoburSwedenStockholm2ParticipantNov 2020
ICA GruppenSwedenStockholm1ParticipantSep 2018
OtivaSwedenStockholm1ParticipantOct 2015

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Min Doktor Competitors

Min Doktor competitors include listed companies like American Well and Nyxoah, and private ones like Beep Saúde, Medly Pharmacy, Buoy Health and Cloud Health Systems.

Public and private companies comparable to Min Doktor
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Beep SaúdeBrazilRio de JaneiroPrivate$54M-$204M3.8x
Medly PharmacyUnited StatesNew York City, NYPrivate$150M-$202M1.3x
Buoy HealthUnited StatesBoston, MAPrivate--$200M-
Cloud Health SystemsUnited StatesSeattle, WAPrivate--$200M-
American WellUnited StatesUnited StatesPublicly listed$249M($63M)$232M0.2x
NyxoahBelgiumBelgiumPublicly listed$12M($97M)$162M3.2x

Min Doktor Public Comps

Min Doktor is still privately-owned, but its public comps include American Well, Nyxoah, LifeMD, Kooth, BlinkLab, EUDA Health, Rocket Doctor AI, TelyRx, Doctor Care Anywhere and Medley Inc..

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
American Well$249M($63M)0.2x0.2x(0.8x)(3.1x)
Nyxoah$12M($97M)9.5x3.2x(1.1x)(1.4x)
LifeMD$194M($2M)0.7x0.7x(89.1x)75.2x
Kooth$85M$13M0.7x0.7x4.6x4.3x
BlinkLab$848K($5M)87.3x87.2x(14.5x)(14.6x)
EUDA Health$7M($2M)8.0x5.9x(26.0x)-
Rocket Doctor AI$1M($10M)34.6x20.7x(4.3x)(4.3x)
TelyRx$43M($4M)0.8x0.4x(8.7x)(5.7x)

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Common questions about Min Doktor

When was Min Doktor founded?Min Doktor was founded in 2013.
Where is Min Doktor headquartered?Min Doktor is headquartered in Lund, Sweden.
Is Min Doktor publicly listed?No, Min Doktor is a private, VC-backed company.
What is Min Doktor's valuation?Min Doktor was last valued at $204M in its undisclosed-stage round in April 2022.
How much funding has Min Doktor raised?Min Doktor has raised $129M across 8 funding rounds.
What was Min Doktor's last funding round?Min Doktor's last funding round was a $12M undisclosed-stage round in April 2022.
Who are Min Doktor's investors?Min Doktor's investors include EQT Ventures, Swedbank Robur, ICA Gruppen, Otiva, Christian W. Jansson and Inbox Capital.
Which companies are comparable to Min Doktor?Companies comparable to Min Doktor include Beep Saúde, Medly Pharmacy, Buoy Health, Cloud Health Systems, American Well and Nyxoah.

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