XUND raises €6m for its AI-powered medical API
The seed round, which is one of the largest in Austria to date, was co-led by MMC Ventures and MassMutual Ventures.
XUND wants to revolutionize tomorrow’s healthcare by delivering evidence-based solutions to patients and healthcare professionals to help them prevent, manage, and treat diseases. By leveraging AI, XUND can automatically analyse and process millions of medical publications to create the baseline for their solutions.
Proven algorithms that combine symptoms, personal risk factors, and demographic data of the patient identify statistically and medically relevant causes for discomfort. The switch from reactive disease treatment to preventive care and efficient disease management benefits multiple parts of the healthcare ecosystem, including patients, insurers, healthcare providers, and pharma.
“Our ambition is to eventually cover the entire patient lifecycle from prevention over diagnosis to treatment and monitoring, allowing XUND to become the central infrastructure provider for digital patient interactions across insurance, pharma, digital and in-person healthcare.”Tamás Petrovics, Co-Founder & CEO, XUND
Having developed the only API certified as a medical device in their field (approved as class IIa), XUND has gained the trust of several prestigious clients.
“With the rise of digitalised workflows in every aspect of healthcare, there is a huge opportunity for XUND’s certified API, enabling stakeholders of the healthcare ecosystem to build their own native symptom assessment and patient navigation solutions, without the regulatory burden of having to become medical device manufacturers themselves.”Charlotte Barttelot, Principal, MMC Ventures
XUND will use the new funds to push growth and advance its expansion beyond the DACH region, including new markets across Europe. As a medium-term objective, XUND plans to expand into the US, with entry preparations already underway by a submission to the FDA.