Reportedly, AI has an important role to play in the healthcare offerings of the future. These technologies have the potential to transform many aspects of patient care, as well as administrative processes within the provider, payer, and pharmaceutical organisations. Healthtech startups such as Avenda Health and PeakData use AI in their business model.
€6M for AI-powered API
Now, a Vienna-based healthtech startup XUND has secured €6 million in seed funding for its AI-powered API, touted to be the only one certified as a medical device in the field. This is one of the largest seed rounds in Austria to date. It was co-led by MMC Ventures (which backed Germany’s LiveEO) and MassMutual Ventures, joined by RoX Health (Roche), and LANA 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. the funding will allow the startup to expand the product features along the patient journey and integrate additional promising use cases, with its best-in-class medical device offering a solid foundation for further expansion.
Tamás Petrovics, Co-Founder & CEO of XUND said: “We’re thrilled that we managed to convince some of the most successful Health and MedTech investors from Europe and the US to join us on our mission to build the data-driven healthcare system of tomorrow. The investment will allow us to continue refining product-market fit, speed up growth, and further improve our operations.”
Charlotte Barttelot, Investor at MMC Ventures said: “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. We look forward to supporting Tamás and his team as they set out to improve the healthcare system.”
Ryan Collins, Managing Director at MassMutual Ventures said: “XUND has positioned itself as a market leader with its best-in-class product and differentiated business model in a field that has tremendous growth potential. We’re excited to partner with XUND’s stellar and complementary team as they transform the future of healthcare.”
Revolutionises future of healthcare
Founded in 2018 by Lukas Seper, Tamás Petrovics, and Zoltán Tarabó in Vienna, XUND wants to revolutionise future 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.
The company’s flagship product is an AI-powered Medical API that provides symptom and risk assessment capabilities to help navigate patients to the best pointof care. The underlying database is powered by the automated analysis of over 2.5 million medical publications through proprietary NLP solutions.
With the only API certified as a medical device in their field (approved as class IIa), XUND has gained the trust of several prestigious clients, including Wiener Städtische Versicherung (Vienna Insurance Group) and Generali, enabling them to build their own digital ecosystem using its technology.
