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Beiersdorf Invests in Digital Derm Appointments Start-Up

January 17, 2022
January 17, 2022
Dermanostic

Beiersdorf, the maker of Nivea, Eucerin, and La Prairie, is investing in Düsseldorf-based start-up Dermanostic through its Oscar&Paul Venture Capital unit.

WHO: Dermanostic is a mobile application designed to provide app-based dermatological diagnosis. The service can be booked around the clock for 25 euros irrespective of location. Once the patient uploads three photos and fills out a medical history questionnaire, an experienced dermatologist performs the diagnoses within 24 hours and sends the user a digital doctor's letter along with the respective diagnosis and therapy recommendation. For less serious issues, Dermanostic can eliminate the need for an office visit, providing fast solutions for individual skin problems by sending a prescription by mail or digitally via online pharmacies.

IN THEIR OWN WORDS: Ascan Voswinckel, Head of Oscar&Paul Beiersdorf Venture Capital, sees this latest investment and the resultant collaboration with Dermanostic as an important step: "We believe digital health and teledermatology offer huge potential, especially among the younger target group. Digital dermatologist appointments offer our consumers significant added value as they allow for swift, straightforward, inexpensive, and professional advice regarding their skin indication. As such, Dermanostic's new digital service is the perfect fit for our Eucerin brand and innovatively complements our Dermocosmetic brand's digital consumer journey." This is corroborated by Cornelius Becker, Beiersdorf's Head of Derma: "The collaboration with Dermanostic is a relevant aspect of our digitalization strategy. Especially in these times of COVID-19 and physical distancing, we must find digital ways of offering our consumers the right advice to solve their skin problems. By engaging in close communication with the experts at Dermanostic, we can learn from one another and thus do even better at establishing digital closeness with our consumers." The collaboration with the start-up also gets to the core of the brand purpose "We believe in the life-changing power of dermatological skincare,” as Becker explains: "Skin problems do not always only affect our skin, they often also have an impact on the affected person's confidence and emotional state and therefore also on their quality of life. But help can be provided in the form of the right dermatological solutions. Here, we draw not only on our intensive research and development work, but also on close communication with dermatologists."

“We are delighted to have Beiersdorf at our side as a strong and experienced partner," says Dr. Ole Martin, Managing Director and co-founder of Dermanostic, commenting on the Beiersdorf investment. "In the past few months alone, we have seen what a good match Dermanostic and Eucerin are. As part of the cooperation, interested users can find information about our offers and services on a dedicated landing page at www.eucerin.de. Users with skin problems also have the opportunity to go directly to the Dermanostic service to receive a skin consultation. An offer that has been well received.”

DETAILS:

  • Beiersdorf is investing in Dermanostic through its Oscar&Paul Venture Capital unit.
  • According to Pitchbook, Dermanostic raised $2.4 million in seed funding in March 2021.
  • In December 2021, Beiersdorf acquired Chantecaille in a deal that values the business between $590 million and $690 million.
  • In May 2021, Oscar&Paul, Beiersdorf’s Venture Capital Unit, invested in Routinely with Belgian co-investor 9.5 Ventures.
  • In 2019, Beiersdorf acquired a significant stake in Seoul-based Lycl Inc., becoming the second-largest shareholder of the rapidly growing skincare and tech start-up.
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