Elkstone’s Portfolio COVID-19 Response Initiatives
COVID-19 has significantly affected people and their communities globally and unfortunately a lot of the societal and economic impact will remain apparent for some time to come. On a positive note, the last three months have accelerated a lot of shifts in human behaviour that were already underway, such as the ever-increasing appetite for on-demand delivery, direct-to-consumer digital healthcare and remote working solutions. We are extremely proud of the efforts made by the teams across the Elkstone portfolio and would like to take this opportunity to share a non-exhaustive list of articles demonstrating how Elkstone-supported companies are stepping up with innovative solutions to help fight the pandemic and support their customers and the broader community.
Paddy Dillon is a Venture Investment Associate at Elkstone.
ELKSTONE SUPPORTED COMPANIES COVID-19 RESPONSE
LetsGetChecked has released a Coronavirus Test (COVID-19) in the US and Ireland, which will be made available to healthcare professionals on the frontline and those most at risk first. The company has committed to 250,000 tests in the first batch, with the goal to scale testing to 100,000 at-risk patients every day for the foreseeable future. LetsGetChecked has partnered with global giants such as UnitedHealth Group, UPS and Salesforce to fight the pandemic and get this test into people’s hands. The company is working with the FDA in the US to approve its novel two-part test for at home use. Read more here.
You can watch LetsGetChecked’s Chief Medical Officer Dr Robert Mordkin (pictured) discuss what LetsGetChecked are doing in the US in this six-minute Fox News interview. View here.
The company raised $71 Million in funding in a Series C Round at the start of May, with US healthcare investors Illumina Ventures and HLM Venture Partners co-leading the round. It was nice to see Nasdaq publicly congratulating LetsGetChecked upon closing the round with a billboard in Times Square, New York. Professional golfer Rory McIlroy also participated in the Series C round and LetsGetChecked administered the COVID-19 testing for the TaylorMade Driving Relief charity match that raised $5.5m for COVID-19 relief on Sunday, 17th May.
Manna Drone Delivery began testing drone delivery of critical medical supplies to the vulnerable in Moneygall, Co. Offaly. The company has partnered with the HSE to fight the pandemic with this initiative and has completed hundreds of real-world test flights in the last two weeks – Read more here, or watch a BBC piece showing a drone delivery of critical pharmacy supplies to cocooning individuals – Watch here.
Output Sports has responded to professional athletes having to move their training to their homes by launching the #OUTPUTCOMBINE, where athletes are competing across six exercises using the company’s technology. Watch Ireland rugby player Dave Kearney come third in the countermovement jump here.
Output Sports has also launched the #OutputSoapbox competiton, enabling sports researchers and practictioners disseminate their knowledge on a topic of their choosing on social media for a cash prize. Details here.
Flipdish has extended its food ordering and delivery technology to service hotels that are seeing business suffer due to COVID-19. Mark McGowan, Owner of Scholar’s Townhouse Hotel and President of the Restaurant Association of Ireland (RAI), was one of the first to sign up. Read more here.
In this Fora.ie article, Conor McCarthy, CEO and co-founder of Flipdish advises how restaurants can change, adapt and overcome their current challenges. Flipdish put their expertise and knowledge to use as they offered their first webinar to offer a practical guide to managing a restaurant through the Coronavirus. Read more here.
Recent trends have shown that fewer patients are presenting at hospitals with non-COVID-19 related illnesses due to the pandemic. Patients with chronic conditions that require ongoing treatments are seeing disruption to their healthcare and HealthBeacon, having seen a 20% reduction in these medications being taken, is working with health insurance and pharma companies to offer monthly deliveries of medication to keep patients on track and receive the treatment they need. Read more here.