Avi Medical, the data-driven healthcare provider transforming the €1.3 trillion primary care industry in Europe, has raised €50 million in a Series B funding round led by Balderton Capital. Existing investors including Berlin-based healthcare fund Heal Capital and New York-based Addition also joined the round, alongside Picus Capital, Vorwerk Ventures, Eurazeo and 3VC. UiPath founder Daniel Dines and Forward Health Founder Adrian Auon also participated in the round.
The company – which has already experienced 8x growth in the first quarter of 2022 – will use the funding to expand the business from eight to at least 100 clinics across Germany by 2024. At the same time, Avi will continue to develop its technology to improve the experience of both patients and doctors.
Vlad Lata, co-founder of machine-learning startup KONUX, and Julian Kley, a trained doctor and consultant, founded Avi Medical in 2020 to reshape primary care for people in Europe by providing easy access to evidence-based medicine. Using their backgrounds in software engineering and healthcare, the founders are on a mission to leverage technology to transform the industry and help solve two of its main problems, a deficit in digitisation and a predicted massive decline in doctor numbers across Europe.
Avi Medical’s seamless integration of multiple channels of interactions, patient records and data points, as well as 24/7 access, is designed to put evidence-based diagnoses and preventative health care at the center of a new way of delivering primary care. At the same time Avi’s platform can transform the patient-doctor relationship, enable doctors to devote more time to caring for patients and cut down their admin.
The universal health manager for everyone Avi Medical’s mission is to provide high quality, accessible and affordable healthcare for all. That means anyone can get an appointment, regardless of their insurance status and past medical history does not preclude any patient from the service.
By enhancing the doctor-patient relationship with modern capabilities, Avi Medical has seen incredibly fast growth, serving 20,000 patients, across four different German cities in under 12 months. Each patient has an individual health custodian, a doctor employed by Avi Medical, who is equipped with a holistic and consolidated dashboard, which provides three times the data points that usual GPs have, to monitor patients. Alongside this, Avi Medical automatically integrates medical knowledge and data into the Avi Medical platform, to ensure its doctors are treating patients according to the very latest research and medical guidelines. Taken together this markedly improves patient outcomes.
Additionally, Avi Medical has also rewritten the rulebook when it comes to doctor appointments, with a highly detailed booking system that aims to identify the reason a patient is looking for medical attention, informed by machine learning technology, at the point of booking. Following a series of questions, the platform will automatically tailor the appointment to the patient’s needs with the preparatory work being done from home. This results in doctors spending 20% more time with patients than regular GPs.
Source – Venture Capital Journal
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