We began this mapping exercise in 2021 with 84 European funds identified. In 2025, that number has grown to 254 funds, reflecting sustained investor interest and the continued growth of a vibrant ecosystem, now counting over 3,800 companies. While the pace of growth has slightly moderated since 2024, the sector continues to mature. 

Following this intense phase of company creation, the industry is now shifting toward scale, with market leaders gaining ground and build-up strategies accelerating. 

In this context, Karista is publishing its fifth edition of its "European Mapping of Digital Health Funds" (also referred as "e-health"). This comprehensive mapping, unique in Europe, will continue to evolve and updated regularly. 

While our goal is to provide a comprehensive overview, we acknowledge the possibility of omitting some key players. We invite you to inform us of such oversights by completing the form provided.

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Definitions and Criteria

• How do we define the Digital Health sector? This sector brings together companies belonging to the field of health in its broadest meaning (going from prevention/wellness to digital therapy) and who are developing a software or digital technology as a differentiating factor

• We included in this mapping all the funds with a global headquarter in France, Germany, Spain, Italy, UK, the Netherlands, Austria, Luxembourg, Belgium and the Nordics

• Based on public information, we selected all the funds that invested (at least) in 3 companies belonging to the Digital Heath sector in Europe

• "Late stage" refers to Series B and following series

• This year, the Corporate fund category prevails on the others

• Super investors are those who have invested in more than 10 digital health companies