Health tech scale-up Xund secures €8M to revolutionize patient care journey: Dive into the details here!

Health tech scale-up XUND secures €2M in funding
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  • Vienna-based XUND, a health tech scale-up, secures €2M in extended Seed funding round, bringing total funding to €8M
  • New investor Thieme Group joins existing investors MMC Ventures and MassMutual Ventures in funding round
  • XUND collaborating with Thieme Group since 2020 to enhance patient communication and health literacy
  • Funds to develop Medical Large Language Models for personalized medical content dynamically
  • XUND’s AI-powered health assistant aids in symptom and risk assessment, catering to healthcare companies for digital interactions

Xund Secures €2M in Extended Seed Funding Round

Austrian health tech scale-up Xund has recently made waves in the industry by securing an additional €2M in an extended Seed funding round. This brings their total funding raised to an impressive €8M. The company, based in Vienna, has been gaining significant traction in the health tech sector, and this latest funding round is a testament to their promising growth trajectory.

Xund’s Co-Founder & CEO, Tamás Petrovics, expressed gratitude towards the investors for their trust and support during these challenging market conditions. He highlighted the pivotal role that artificial intelligence plays in revolutionizing healthcare, particularly in linking individual patient data to personalized and reliable information. This new injection of funds will enable Xund to further develop their Medical Large Language Models (MedLLMs) to deliver dynamic and personalized medical content to users.

Collaboration with Thieme Group to Enhance Patient Communication

One of the key highlights of Xund’s recent funding round is the participation of new investor Thieme Group. This collaboration between Xund and Thieme Group dates back to 2020 when they joined forces to enhance patient communication by improving health literacy and patient confidence. Together, they are working on developing Medical Large Language Models (MedLLMs) that will leverage Thieme’s medical content and Xund’s NLP technology to provide personalized medical content dynamically.

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The joint efforts of Xund and Thieme Group will be showcased at DMEA, Europe’s premier digital health event. The partnership aims to revolutionize the way medical information is delivered to patients, ensuring it is personalized, accurate, and easily accessible. Katrin Siems, Senior Executive Vice President of Marketing and Sales at Thieme, commended Xund for their innovative approach and user-friendly applications, highlighting the exceptional technological expertise that sets the scale-up apart.

Xund’s Innovative Solutions in Healthcare Digitization

Founded in 2018, Xund has been at the forefront of enabling healthcare companies to digitize the patient journey and transform unstructured data into actionable insights. The company has developed four medical modules that cover the entire patient lifecycle, facilitating digital interactions from prevention to diagnosis and monitoring. Their flagship product, an AI-powered health assistant, offers symptom and risk assessment capabilities to guide patients to the most appropriate point of care.

Xund’s proprietary NLP models analyze millions of medical publications, making it a pioneer in leveraging AI for healthcare solutions. The technology has been classified as a class IIa medical device under the European Medical Device Regulation (MDR), setting a high standard for industry compliance. The scale-up’s clientele includes leading entities such as health insurance companies, healthcare providers, pharmaceutical companies, pharmacies, and digital health firms.

Investment Support from MMC Ventures and MassMutual Ventures

MMC Ventures and MassMutual Ventures, two prominent investors in the tech space, have shown unwavering support for Xund’s vision and innovative solutions. MMC Ventures, a leading European venture capital firm focusing on transformative technology companies utilizing AI and data science, has praised Xund for its unique API and superior AI capabilities. The new investment from Thieme Group will provide Xund access to a vast proprietary dataset to further enhance its offerings.

MassMutual Ventures, a global venture capital firm investing in various sectors including health tech, sees Xund as a market leader in developing AI tools for healthcare. The partnership between Xund and MassMutual Ventures will enable access to valuable datasets for the development of Medical LLMs, showcasing the potential for continued growth and innovation in the healthcare sector.

Xund’s success in securing additional funding and forging strategic partnerships underscores its position as a pioneering health tech scale-up. With a focus on leveraging AI and data science to revolutionize healthcare delivery, Xund is poised to make significant strides in digitizing the patient journey and enhancing the overall healthcare experience.

Links to additional Resources: 1. https://www.xund.com/ 2. https://www.crunchbase.com/organization/xund 3. https://www.viennaup.com/xund-raises-e2m-in-extended-seed-funding-round/
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