Avi Medical has secured €50 million in Series B round of funding. Among other things, the German healthtech startup will use the money to expand its digital health platform.
Avi Medical, a German healthtech business, has raised €50 million in Series B funding for its telemedicine platform. Balderton Capital led the round, with participation from Heal Capital, Addition, Picus Capital, Vorwerk Ventures, Eurazeo, and 3VC.
The round also had the participation of UiPath founder Daniel Dines and Forward Health founder Adrian Auon. Avi has now raised more than €80 million in total finance.
Avi Medical is a patient-facing app that allows consumers to track their health using personalised health suggestions.
Among other therapies, the app incorporates physical interactions, blood testing, digital therapeutics, and nutrition regimens. It also allows the patient to communicate medical data and receive in-home or on-site medical care.
Patients can use a thorough booking system that uses machine learning technology to determine why a patient is seeking medical attention.
Each patient has a personal health custodian, who is a doctor employed by Avi Medical and has access to a unified dashboard.
Avi Medical plans to use the funds to create new treatment pathways and incorporate digital aides to improve patient care. For patients, this means making primary care more convenient with one-click prescribing and at-home testing. Avi Medical will improve decision assistance for clinicians by generating recommendations based on machine learning prior to a patient meeting.
The money will also be used by Avi to expand its services throughout Germany and beyond into Europe, notably in rural areas that are frequently left behind by technology progress. It plans to expand from eight to 100 clinics across Germany by 2024.