Through its investment in Akina, Freigeist Capital, the Deep Tech VC founded by Frank Thelen, has led its first investment in the healthtech sector. The startup has raised CHF 2.8 million seed capital to enable AI-driven physiotherapy at home with the support of trusted professionals.
Akina Health, founded in 2021 as a spin-off from ETH Zurich and the ETH AI Center by Florian Haufe (CEO) and Michele Xiloyannis (CTO), has developed AI software certified as a medical device that supports patients undergoing physiotherapy at home. Akina’s certified medical product, the AI software “Akina Cloud” enables a personalized hybrid treatment approach that combines the flexibility of digitally supported home therapy with in-person appointments with physiotherapists. The platform allows physiotherapists to delegate repetitive treatment components to the software through a digital training plan.
Akina Cloud uses machine learning and camera-based motion analysis to guide patients with musculoskeletal conditions through therapeutic exercises at home. The system provides real-time feedback on exercise execution, as well as automated progress reports and monitoring tools for healthcare professionals. This hybrid treatment approach, combining in-clinic sessions with digitally guided home therapy, delivers significantly better and more sustainable treatment outcomes. Thousands of training sessions have already been successfully completed.
Currently, Akina focuses on treating musculoskeletal disorders such as back or joint pain, which are among the most common and costliest physical complaints globally. Guideline-compliant treatment for these conditions relies on active movement therapy, which is often not implemented effectively in practice due to logistical challenges, limited availability of qualified professionals, and poor tracking of home exercises. These gaps result in billions of euros in avoidable costs for healthcare systems annually due to unnecessary diagnostics and surgical procedures.
The CHF 2.8 million seed investment (€3 million) was led by Freigeist Capital, a venture capital firm specializing in investments in technology- and design-driven startups. The firm was founded in 2017 by Alex Koch and Frank Thelen, a serial founder and technology investor also known from the German TV show "Die Höhle der Löwen".
Alongside Freigeist Capital, Akina received contributions from FAIR VC, Dr. Sattler Capital, Kickfund and prominent Swiss healthcare experts. The funds will enable Akina to expand access to effective movement therapy. Initial efforts focus on business development in Switzerland, advancing AI technology, and preparing for European expansion.
“Akina enables patients to access physiotherapy guided by trusted professionals from the comfort of their homes. This helps more people and eases the strain on healthcare systems. Given the ongoing shortage of skilled professionals, I see immense potential in the healthtech sector”, says Frank Thelen.
(Press release/RAN)
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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