Saventic Well being, a Warsaw-based startup advancing the analysis of uncommon ailments utilizing AI, has secured €1.9 million in bridge funding from worldwide buyers.
This funding was led by 4growth VC in co-investment with Poland’s NCBR Funding Fund and the U.S.-based TNI Fund. The funds will assist the corporate’s continued growth into new markets, together with Europe, South America, and Canada, whereas setting the stage for a bigger Sequence A funding spherical within the close to future.
“Our worldwide presence confirms that our algorithms are efficient and well-received by our purchasers and companions,” stated Szymon Piątkowski, Co-founder and CEO of Saventic Well being. “The healthcare, biotechnology, and innovation sectors are presently constructing a very new market from scratch, fueled by the AI revolution. Our startup tradition and extremely expert workforce allow us to be one of many key gamers on this area.”
Based in 2019 by Szymon Piątkowski and Professor Grzegorz Basak, Saventic Well being develops AI algorithms designed to help in diagnosing uncommon ailments extra successfully and effectively than conventional strategies. With 50 algorithms presently in use, the corporate has already identified over 200 people with uncommon circumstances up to now yr.
Its options are deployed globally, with initiatives working in partnership with 11 of the 30 largest pharmaceutical firms and over 30 clinics and hospitals throughout Poland, Germany, France, Brazil, and Canada.
The 40-member workforce at Saventic Well being is made up of docs, knowledge scientists, and knowledge engineers targeted on leveraging AI for healthcare innovation.
The corporate’s AI-driven expertise analyses medical information to determine potential uncommon illness diagnoses that have an effect on 450 million individuals worldwide, offering strategies for additional motion to physicians. In response to Saventic Well being, this strategy achieves far higher effectivity in comparison with conventional diagnostic strategies, which frequently require 7-12 years for an correct analysis and succeed solely 2-4% of the time.
“We at the moment are specializing in getting into the Austrian, Swedish, Spanish, and Italian markets, leveraging the truth that our algorithms are registered as medical gadgets throughout the European Union. We’re additionally increasing our presence in South America, the place our options are equally licensed as medical merchandise. Along with Brazil, the place we have already got ongoing initiatives, we’re starting operations in Colombia, Peru, and different digitally superior international locations within the area,” Piątkowski added.
The corporate’s development technique contains focusing on new markets and growing geographic diversification, with plans to broaden operations into international locations resembling Colombia and Peru. Saventic Well being additionally plans to enter the U.S. market following the completion of its upcoming Sequence A funding spherical.
The brand new funding marks the primary funding from TNI Fund, a part of the Kluz Ventures group, which focuses on transformative applied sciences in healthcare. “Our fund focuses on breakthrough applied sciences in healthcare and their sensible functions to unravel international issues. Saventic Well being offers modern affected person diagnostic options, which we imagine characterize the way forward for healthcare,” stated Artur Kluz, Basic Accomplice at TNI Fund.
4growth VC, which initially invested €2 million in Saventic Well being in 2022, additionally elevated its stake on this spherical. “The inclusion of a U.S. fund amongst its buyers confirms Saventic Well being’s international potential,” stated Tomasz Biłous, Managing Accomplice at 4growth VC. “The corporate is already lively on three continents and has international agreements with the biggest pharmaceutical gamers. Thanks to totally digitalized processes, Saventic Well being can execute initiatives for its purchasers and help in diagnosing sufferers wherever wanted, enabling dynamic worldwide development.”
“We’re happy to witness the corporate’s dynamic improvement, which reassures us in regards to the high quality of this funding. Saventic Well being’s present growth and the formidable plans of its founders have satisfied us to extend our capital dedication. This highlights the significance of public-private capital collaboration, which collectively offers modern Polish firms with higher alternatives to construct international potential,” stated Ksenia Wójcik Karasiewicz, CEO of NCBR Funding Fund.