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Cathay Innovation’s first investment in Germany is healthcare startup Medwing

Medwing, a German startup with an ambition to tackle Europe’s shortage of healthcare workers, said on Tuesday that it has secured €28 million ($30 million) in a Series B financing round. Global venture capital firm Cathay Innovation led the round, marking its first investment in a German company. Other participating investors include Northzone, Cherry Ventures and Atlantic Labs.
The World Bank forecasted a worldwide shortage of 15 million health professionals by 2030, with demand being highest in affluent regions like Europe with an aging labor force and an aging population in need of care.
The pressing issue inspired Johannes Roggendorf, who previously worked at Rocket Internet and Bain & Company, to launch Medwing in 2017 and later brought on his co-founder Dr. Timo Fischer. The entrepreneurs discovered that, contrary to conventional wisdom, many healthcare workers in Europe wanted to work more, not less. Part of the reason why jobs were not filled was information asymmetry that led to a mismatch between supply and demand.
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