Longevity &

Healthy Ageing
Technology to live longer and healthier

December 2024
 Pan-European early-stage venture capital One of the largest global insurance and Global startup & venture capital
firm with a dedicated Health & TechBio asset management providers. intelligence platform.
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 Longevity & Healthy Ageing defined.

Healthy Ageing
Startups that develop solutions promoting physical, cognitive,
and emotional well-being for older adults, incorporating
Silver Tech
longevity strategies and technologies to optimize health
throughout the ageing process.

Silver Economy
Startups that design products and
Longevity Silver Health services catering to the aging
population, from health and wellness
Technologies that focus on extending Startups creating tools and services that to financial services, housing, and
lifespan and enhancing the quality of life, address the health needs of older adults. lifestyle enhancements tailored to
ranging from biotech innovations to seniors' evolving needs.
personalized health tools aimed at delaying - Care recruitment and management
ageing and age-related diseases. platforms
- Financial wellbeing
- Elderly care platforms
- Drug discovery for age-related conditions - End of life planning
- Preventative health (clinics, wearables,
- Genetic testing - Senior protection
testing etc.)
- Cell repair and regeneration - Service portals
- Digital tools for age-related conditions
- Cellular clean-up and maintenance
- Fall and emergency detection
- Genetic modifications
- Senior mental health

Page / 3 Source: Dealroom.co

 Key takeaways

Within the Healthy Ageing sector, The ageing population is reshaping In 2024, US longevity startups have
longevity companies have global health and economic raised two times more than
historically attracted most funding, landscapes, with older adults European ones.
with the exception of 2021-2022 requiring more services to address While life expectancy has nearly doubled since the
with strong activity for Silver caregiving needs, chronic diseases, 1870s, it has been flattening in the last 20 years, and
the proportion of healthy years has remained
health. and financial insecurities. unchanged in the past decade.
Healthy Ageing startups develop solutions promoting Tools for formal and informal caregivers, for seniorsʼ
physical, cognitive, and emotional well-being for mental health, end of life planning and management Novel medical practices including modifying genes
older adults, incorporating longevity strategies and of age related disease improve care efficiency, and cells intends to slow down aging, an example is
technologies to optimize health throughout the independence, and well-being while easing health Altos Labs which raised a record high $3B round in
ageing process. and economic pressures. 2022.

VC funding in European Healthy Ageing by segment Number of VC rounds in Senior Mental Health startups VC funding in longevity startups per region
▊ Longevity ▊ Silver Health ▊ Projection ▊$0–1m (pre-seed) ▊$1–4m (seed) ▊ Europe ▊ US
▊$4–15m (series A) ▊$15–40m (series B)

Page / 4 Source: Dealroom.co

 1 Healthy Ageing
2 VC Trends
3 Silver Health
4 Silver Economy
5 Longevity

Page / 5
 Life expectancy has more than Life expectancy
doubled since the 1870s, to over 70 By birth year

years, driven by tech and medical

advances.
● This evolutionary-level progression, unparalleled in the rest of
human history, has largely been driven by technology.

● Key technological developments include:

○ Clean water and sanitation with modern sewage

systems and clean drinking water.

○ Vaccination campaigns that eradicated diseases like

smallpox and significantly reduced polio, measles, and
other infectious diseases. In the last 50 years this saved
an estimated 154 million lives, the majority infants.

○ Antibiotics and Anti-Infectives, such as Penicillin which

revolutionized the treatment of bacterial infections.

○ Nutrition and Food Security: advanced in agritech from

fertilizers to mechanizations improved food production,
reducing famine and malnutrition globally.

Page / 6 Source: Dealroom.co, World Health Organization, UN WPP 2022

 Population by age groups in the EU
In millions, observed (2001-2019) and projected (2020-2100 data)

By 2050, people aged 55+ will 500

represent 45% of the population, up
from 28% in 2001, due to longer 450 ≥ 85
years
lifespan and lower birth rates. 400 75 - 84
years

● The ageing population will require more services to ensure good 350
65 - 74
living standards, caregiving, and management of age-related years
diseases. 300
○ This demographic shift will further exacerbate to 55 - 64
years
financial and connectivity/isolation challenges and 250
present new reality for employers.
200
● By 2042, 37% of Europeʼs workforce is projected to be aged 50
or older. 150

● The economic implications include greater pressure on public 100

pension funds and social security spending, alongside reduced
overall productivity. 50
< 55
years

Our world in data, UN Population Division (2022), Eurostat - EUROPOP2019 - Population projections at
Page / 7 Source:
national level (2019-2100)
 Welfare states such as Spain and Italy have high out-of-pocket healthcare spending
despite significant public expenditure, showing a struggle to meet patient needs.

Healthcare spending as a % of GDP per capita Out-of-pocket spending as a % of total healthcare spending

10.2% 11.0%

9.3% 8.0%

7.9% 9.0%

7.7% 17.0%

7.1% 18.0%

Dealroom.co
Page / 8 Source: Worldbank (2021)
*Welfare states are highlighted, the UK is established on a mixed-welfare model.
 380+ startups across 10 segments » Explore the landscape
supporting Healthy Ageing.

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 1 Healthy Ageing
2 VC Trends
3 Silver Health
4 Silver Economy
5 Longevity

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 Healthy Ageing startups in Europe already raised $460M this year, projected to
surpass 2023. Late-stage funding has however been absent since 2022.

VC funding in European Healthy Ageing Selected rounds in 2024 » view online

▊$0–1m (pre-seed) ▊$1–4m (seed) ▊$4–15m (series A) ▊$15–40m (series B) ▊
$40–100m (series C) ▊$100–250m (mega rounds) ▊$250m+ (mega+) ▊Projection
Company Round Segment Sub-segment

£63.5M Biotech x Cell repair and

Series B longevity regeneration

Digital tools for

$75.0m Digital health
age-related
Series D x longevity
conditions

$66.0m Biotech x Nutrition and

Series D longevity supplements

Digital tools for

£29.2m Digital health
age-related
Early VC x silver health
conditions

$16.0m Biotech x Genetic testing and

Seed longevity therapeutics

Dealroom.co
Page / 11 Source:
Data as of Nov 25th 2024.
 Longevity has VC funding in European Healthy Ageing by segment
historically
attracted most
funding, with the
exception of
2021-2022 with
strong activity
for Silver health.
As a segment, Healthy
Ageing has grown more
than ten fold in the past
decade.

Dealroom.co
Page / 12 Source:
Data as of Nov 25th 2024.
 Healthy Ageing
has grown faster
than overall VC
funding and the Growth and VC funding Healthy Ageing vs Health and total European funding since 2019
rest of
Healthtech in the
last five years.

Dealroom.co.- Data as of Nov 29th 2024.

Page / 13 Source:
Growth computed comparing funding for 2019-20 with 2023 and projected 2024 value.
 Drug discovery & Top European Healthy Ageing segments by VC funding and growth
Therapeutics for ▊Longevity ▊Silver Health
age-related
diseases is by far
the most funded
segment.
Nutrition & Supplements,
Preventative health and
Fall & emergency detection
show the strongest growth.

Dealroom.co - Data as of Nov 29th 2024.

Page / 14 Source: Growth computed comparing funding for 2019-20 with 2023 and projected 2024 value.
*There are both longevity and silver health digital tools in our mapping.
 UK Healthy Top European countries by VC funding allocated to Healthy Ageing since 2019
Ageing startups
have raised more
than the next 4 $1.3B

ranked European
Countries.
Switzerland has seen
the second strongest
activity, more than
double that of France,
Ireland, Germany.

Dealroom.co.
Page / 15 Source:
Data as of Nov 29th 2024.
 Top investors in European Longevity & Silver Health

Longevity Tech Silver Health

Dealroom.co. Data as of November 2024.

The most active investors have been selected according to the number of rounds in which they invested into companies highlighted in our Healthy
Page / 16 Source:
ageing landscape; Excluding Debt, Grants and rounds from Support programs. The list excludes accelerators. Pre-Seed: $0-$4M; Early-Stage:
$4-$100M; Late-Stage: $100M+
 1 Healthy Ageing
2 VC Trends
3 Silver Health
4 Silver Economy
5 Longevity

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 While life expectancy is rising, time spent in poor health has increased by a decade and
remains proportionally unchanged, partly due to chronic diseases.

Average global lifespan and share spent in poor health

▊Average global life expectancy ▊Average years spent in poor or moderate health

● Common chronic or non-communicable diseases (NDCs) in

older adults include Alzheimerʼs, Parkinsonʼs, other
neurodegenerative diseases, rheumatoid arthritis,
cardiovascular diseases, macular degeneration, chronic
73 respiratory diseases, cancer, and diabetes.

● 37% of Europeans aged 65 and over have multiple chronic

54 conditions.

37 ● Chronic diseases account for 9 out of 10 deaths in the EU, and

account for an estimated €700B yearly, up to 80% of all
27 healthcare spending in the EU. Cardiovascular disease and
cancers alone account for almost two thirds of deaths in the EU.

1960 2019

Page / 18 Source: Dealroom.co, National Library of Medicine, McKinsey, Our World in data, Efpia
 “Chronic pain is highly prevalent among older adults where it
is associated with significant suffering, disability, social
isolation, and greater costs and burden to health care
systems.
Chronic pain is also a risk factor for premature death and accelerated cognitive decline.
Unfortunately, over half of chronic pain sufferers find no relief from current treatments,
primarily pharmaceuticals with side effects that worsen with age. This significantly
impacts their quality of life, causing sleep disorders, anxiety, depression, and social
isolation.

Remedee Labs offers an innovative solution to improve the lives of chronic pain sufferers,
especially older adults. It combines the first personal endorphin stimulator using
millimeter wave therapy with a digital platform, data integration, and personalized
coaching. The device is simple and user-friendly, making it ideal for older individuals.

Remedee has achieved positive clinical results and CE Medical Marking (class IIa) approval
for relieving osteoarthritis (OA) symptoms, a condition affecting 500 million people
Gilles Litman globally, 73% of whom are aged 55 and older. This solution can enhance quality of life and
promote healthier aging.
Co-founder, Deputy CEO &
Chief Business Officer of As a strategic partner of Generali, Remedee Labs aims to make its solution accessible to
Remedee Labs patients worldwide.”
 Addressing chronic disease through preventive care, early intervention, and
better management is key to controlling healthcare costs in Europe.

Projected spending shift from treatment to prevention* Preventive health startups in Europe » view online

Treatment
39% & Care

83%

Well-being &
61% prevention

17%
2019 2040

Dealroom.co, *Deloitte
Page / 20 Source:
For more information, refer to the State of Global Insurtech report.
 “Preventative health applied to ageing is probably the most
important and yet underfunded area of Healthcare today.
A person aged over 75 consumes 25 times more healthcare resources than someone
below 65 in France. Chronic conditions prevalence increases exponentially with age so our
already strained healthcare systems require a massive shift of focus from treatment
towards primary and secondary prevention to sustain the population ageing burden. Long
term partnership between Tech, Insurance and Public health is key.

Whilst the promise to live healthily for 100+ years drives a lot of investment in elite
longevity tech, more investment needs to go towards cost-effective and scalable digital
Silver Health innovations, both from a solution standpoint but also from Health & Life
insurers and healthcare systems to help sponsor, roll-out, educate and train people to use
an increasing number of great technologies and tools. AI driven program personalisation,
gamification and innovations in behaviour change applied to lifestyle will help drive
Sylvain Piquet massive adoption by the new generation of tech savvy Boomers.
Co-Founder of Five Lives
Five Lives is happy to count Generali as one of its Partners to foster healthy ageing.”
 Similar to the broader digital health funding trend, funding for digital tools
targeting age-related conditions peaked in 2021 and has declined since.
VC Funding in digital tools for age-related conditions per launch year
cohorts Select rounds in digital tools for age related conditions » view online
▊2010 - 2014 ▊2015 - 2020 ▊2020 - 2024

Company Round Date Application

$125m
Oct 2021 Neurorehabilitation
Late VC

$100m
May 2021 Metabolism
Series C

$100m
Jun 2017 Sleep
Convertible

£29.2m
Sep 2024 Hair loss
Early VC

£1.5m
Sep 2020 Parkinsonʼs
Seed

Dealroom.co
Page / 22 Source:
Data as of Nov 29th 2024.
 By 2050, the EU is projected to have 38.1 million people in need of care, with
demand already exceeding the capacity of care workers and facilities.

Example of startups offering platforms and tools to:

80% 72B
Of long-term care in
Europe is provided by
hours
non-professional carers Of care provided annually
(family members, by non-professional carers, Improve nursing homes
neighbors, volunteers etc.) it is valued at €576B operations and helping
due to the high-cost of (3.63% of Europeʼs GDP). families find the right Provide professional at-home
care. accommodation care

78M
Non-professional
caregivers, thatʼs 19x the
number of professionals.

Connecting families with

trusted self-employed
caregivers Enabling community services

Tech tools can reduce inefficiencies and save time for professional caregivers and structure and empower
non-professionals to deliver higher-quality care. However, as a segment, they have only raised $220M in VC » view all online
funding.

Page / 23 Source: Dealroom.co *Caritas: Europeʼs care systems at risk, European Economic and Social Committee: Caregivers
 Despite rising isolation among elders and the wider population, solutions for
loneliness see fewer rounds of funding.

Number of VC rounds in Senior Mental Health startups

18% 9% points 15 Cigarettes
per day ▊$0–1m (pre-seed) ▊$1–4m (seed) ▊$4–15m (series A) ▊$15–40m (series B)

of adults in Europe more likely Is what the effects of

report being socially
not to engage often in loneliness on our bodies
isolated (roughly 75
social activities (in adults compares to. Loneliness
million people).
aged 65 and over, can increase the risk of
compared to the depression,
26-45-year age group). cardiovascular diseases,
and cognitive
impairment.
Applications:

Connecting to others and Digital content (exercise,

younger generations entertainment etc.) Companion robots

» view 30+ Senior Mental Health startups

Dealroom.co, European commission, Brussels Times

Page / 24 Source:
Data as of Nov 29th 2024.
 “Aging well is not just about extending life, but about
enriching it for everyone.

At Poupette, we are reimagining how families and seniors navigate care,

driven by a mission to make aging well accessible to all. Through innovation
of service, we deliver personalized, accessible, and human-centered
solutions that improve later life and re-enchant old age.

By harnessing cutting-edge technology and pairing it with empathy, we

simplify the complexities of elder care while prioritizing quality and trust.
Our goal is to empower families with confidence and clarity, offering
Alix Gard solutions that truly make a difference in the lives of their loved ones.”
Co-Founder of Poupette
 1 Healthy Ageing
2 VC Trends
3 Silver Health
4 Silver Economy
5 Longevity

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 As the global population ages, the retirement protection gap (shortfall between needed and actual retirement
income) is growing massively. The top need in post-retirement is to maintain current standard of living.

Retirement protection gap Key post-retirement age-well needs*

$400T

4x
$99T

2020 2050

Page / 27 Source: 1) WEF 2) Capgemini – The Aging Well Opportunity, 2023

 The adoption of savings and life insurance products needs to increase to ensure
quality of life in post-retirement.
Example of startups helping the adoption of savings
and life insurance products:

Only 45%
of Europeans are
3x
higher saving rate by
financially confident in Europeans in respect to
their retirement, and Americans (13% vs 4%).
most EU citizens fully But Europeans tend not to
depend on statutory invest these savings in B2B financial advisory
pensions for their future the capital market. software for savings, pension B2C savings, pension, and life
retirement income. and life insurance insurance platforms

Only 19%
own a personal pension
60%
of 65+ consumers have yet
product. Citizens with a to look for professional Employee benefits and End-of-life planning (Estate
supplementary feel more advice to prepare for corporate pension and will planning)
financially confident in retirement and wealth
their retirement. transfer in 2023.
» view all online

Page / 28 Source: Dealroom.co EIOPA, Capgemini

 70+ startups offering financial services » Explore the landscape
for silver economy in Europe

Page / 29
 “Healthy Ageing sits at the crossroads of a broader set of
socio-economic factors interacting with one another,
including: healthcare, social isolation, caregivers and
financial planning.
We are amid historyʼs largest intergenerational wealth transfer, impacting industries across the
board. For insurance, this shift will directly affect approximately 40% of the largest life insurersʼ
AuM (around $7.8 trillion). These assets, held by policyholders aged 65+, are set to transfer to
younger beneficiaries by 2040.

This trend is already in act, and it imposes insurers to face two axes of development:
1. Develop comprehensive ageing-well solutions for 65+ customers, focusing on health and
financial support.
2. Build trust to become the preferred partner for financial planning and ageing-well needs,
while actively engaging younger beneficiaries.

By tackling these areas, insurers can strengthen relationships with both elderly and younger
customers, mitigating potential asset outflows. Following our “Lifetime Partner” model, as Generali
we strongly believe that success will hinge on offering flexible, personalized solutions that lower
Filippo Maria adoption barriers and enhance customer experience (CX) through technology-driven, value-added
services.
Stefania
Group Open Innovation These services - spanning wellness, telemedicine, taxation, estate planning, and quality-of-life
& VC Manager support - will be essential. Partnering with startups can help insurers quickly seize these
opportunities and accelerate time-to-market.”

Page / 30
 1 Healthy Ageing
2 VC Trends
3 Silver Health
4 Silver Economy
5 Longevity

Page / 31
 Life expectancy
By birth year
Life expectancy has been flattening in
the past 20 years. The race is now on
for a breakthrough to add more
healthy years of healthy living.
● Biotech developments, in part funded by Silicon Valley
billionaires, are aiming to cure ageing-related diseases, while on
the premise of slowing down ageing, scientists believe it could
it be stopped and reversed one day.

● The FDA has signaled its recognition of longevity medicine's

potential and the possibility of addressing age-related factors as
treatable conditions.

● LBS, Oxford, and Harvard suggested that extending just one

healthy year of life is worth $38 trillion to the global economy and
extending healthy life by 10 years could net greater than $300
trillion.

Page / 32 Source: Dealroom.co, The economic value of targeting aging

 What are the different approaches for slowing down or reversing ageing that are
getting funded?

Genetic &
epigenetic
modifications
Cell repair & Alters genes or their
regeneration expressions to slow down or
reverse ageing process. Immunity &
inflammation
Restores or replaces damaged cells
and tissues to keep the body
functioning optimally.
$690M
Combined funding
Boosts immune system
function and reduce chronic
inflammation, which
declines with age.

$100M

$1B Combined funding

Cellular
clean-up
Improves the bodyʼs ability
Metabolism
& dietary
Enhances cellular energy
production, which declines
with age. Lifestyle changes
Combined funding

to remove damaged cells can boost overall health.

and proteins.
$12M View landscape »
$120M
Combined funding
Combined funding

Page / 33 Source: Dealroom.co

 Explore the Longevity landscape » Explore the landscape

Page / 34
 Many billionaires have been funding longevity startups.

Christian
Yuri Milner Brian Armstrong
Angermayer
(Mail.ru) (Coinbase)
(Apeiron)

Jeff Bezos Elon Musk Bryan

(Amazon) (Tesla) Johnson
(Braintree)

Sergey Brin & Li Ka-shing

Larry Page Peter Thiel (CK Hutchison
(Paypal)
(Google) Holdings)

Osman Kibar Jim Mellon Vitalik Buterin

(Genoptix) (AIM) (Etherium)

Sam Altman
(Open AI)

- Investment

Page / 35
 US longevity startups have raised almost 3x more funding than European counterparts
in 2024. 2022 was a standout year for the US, mainly led by Altos Labsʼ $3B round.

VC funding in longevity startups per region Top rounds in longevity in the US » view online
▊Europe ▊US

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 “While you canʼt buy youth, you can fund aging
research - a field capturing the attention of
billionaires and VCs, with over 700 biotech and
techbio startups racing to unlock the secrets of
longevity.

Advances in DNA repair, cellular reprogramming, and telomere elongation are

unlocking the mechanisms of life and death, with insights from short-lived animal
models like C. elegans. Meanwhile, the profound impact of sleep, diet, and
exercise underscores the foundational role of lifestyle in extending lifespan.
However, Nobel laureate Venki Ramakrishnan warns against oversimplification -
turning back the biological clock isnʼt a simple hack and may disrupt the balance
between aging and cancer. For instance, enhancing DNA repair pathways can slow
aging but may also increase cancer risks.
Estelle Botbol
Senior Associate at At Speedinvest, we support ventures addressing these complexities with rigorous
Speedinvest science, deep understanding of biological balances and clear pathways to clinical
validation.”
 Contributors

Estelle Filippo Maria Lorenzo

Botbol Stefania Chiavarini
Group Open Innovation
Senior Associate Research Lead
& VC Manager
At Speedinvest At Dealroom.co
At Generali

Daria Eglantine
Gherghelas Dupuy
Associate Research Associate
At Speedinvest At Dealroom.co

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