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Another unicorn: Elemy, autism treatment startup, raised $219 million 🦄

This is an American project, which aims to find the solution of children's autism treatment and rapid diagnosis. The startup has raised $219 million and reached a valuation of $1.15 billion in a short time.

What’s the startup aim?

Elemy operates an online platform that provides personalized care for children with autism. It helps choose a suitable adaptation and rehabilitation program. Company believes that parent training and child monitoring can be held using tele-technologies. However, skills, social acquisition, reduction of problem behavior and data collection are something that must be carried out only in real life face-to-face with specialists.

How rapid is the growth?

Bloomberg clarifies that the valuation of Elemy rose 11 (!) times over one year. It amazingly went from $104 million in October 2020 to $1.15 billion in October 2021.

This massive investment will attract a large pool of knowledgeable professionals to help millions of children with autism spectrum disorders. The company has a plan to use the raised funds to expand in the United States, as well as launch new research programs. In the near future, Elemy intends to hire 2.000 scientists.

What’s so special about Elemy?

Elemy was founded by businessman Yuri Yakubchik. Its website states that as a child, he himself faced problems with hyperactivity and was undergoing treatment. Yakubchik predicts the company's revenue at $100 million by the summer of 2022. He says: “At Elemy, we use ABA therapy to improve social, communication, and learning skills through positive reinforcement.“

Let’s wish Elemy good luck in their complex domain 🍀

What are the risks of developing a startup in the unknown field of medicine? Share your ideas in chat! 💬

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