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Financing › Details

Avi Medical–SEVERAL: investment, 202204 financing round Series B €50m led by Balderton Capital

 

Period Period 2022-04-06
Region Region Germany
Organisations Money taker Avi Medical GmbH
  Group Avi Medical (Group)
  Money source SEVERAL
Products Product medicine
  Product 2 venture capital
Person Person Wise, James (Balderton Capital 202204 Partner)
     

Balderton Capital. (4/6/22). "Press Release: Avi Medical Raises €50M to Put Preventative Healthcare and Digital Integration at Heart of Its Service".

The round was led by Balderton with existing investors including Heal Capital and Addition, alongside Picus Capital, Vorwerk Ventures, Eurazeo and 3VC. UiPath founder Daniel Dines and Forward Health Founder Adrian Auon also participated.

Avi Medical is a data-driven healthcare provider transforming the €1.3 trillion primary care industry in Europe.

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 messaging function

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.

“Avi Medical was born out of our belief that modern technology could be better leveraged to reimagine the patient/doctor relationship and to build the healthcare service that we all deserve. Since launch, we’ve seen an incredible appetite for this new approach, from both doctors and patients. The next 12 months will see us continue to streamline and improve the experience for all those who interact with the platform and we’re delighted that some of the world’s most notable investors want to join us on our journey.”
Vlad Lata, Avi Medical Co-Founder

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.

“Avi Medical is not only drastically improving the experience of patients and doctors today, but it is also forging the primary healthcare system of the future, where patients each have personal healthcare plans based on their medical history and needs. Ultimately this will help put preventative healthcare at the center of effective primary care, with better outcomes for everyone but particularly those who are chronically ill with manageable conditions like diabetes.”
James Wise, Partner at Balderton

“Becoming an innovator in what is rightly a highly regulated sector is one of the hardest things you can do as a founder, but the AVI team have already proven they have the ability to build impactful services and products in the most important industry of all, our healthcare.”
James Wise, Partner at Balderton

   
Record changed: 2022-04-24

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