MX Labs, a healthtech AI startup based in Tallinn, Estonia, has secured a fresh investment round, Simpact Ventures reported to AIN. The Czech fund Tilia Impact Ventures led the round joined by Superhero Capital and Simpact Ventures. Unfortunately, the investors did not disclose the amount of financing.

About MX Labs

  • MX Labs, founded by Remigiusz Kościelny and Przemysław Jaworski, is based in Wrocław but registered in Estonia's capital, Tallinn. The startup is creating Shen.AI, an AI-powered monitoring system for vital indicators. It enables early detection and monitoring of major lifestyle disorders like hypertension, which affects 1.4 billion people globally.

  • Shen.AI is a smartphone app developed by MX Labs that uses AI and computer vision to monitor vital signs, heart performance, and health risks.

  • Hypertension and cardiovascular diseases are leading causes of death worldwide, with 17.9 million deaths annually. MX Labs uses remote photoplethysmography to accurately measure health indicators and risks, with clients in over 20 countries, primarily among telemedicine providers.

“We have always sought companies whose activities and solutions have a real and positive impact on people’s lives and the environment. Seeing the enormous potential of Shen.AI technology to improve the quality of life for millions of people, we decided to become one of MX Labs investors,” said Jacek Ostrowski from Simpact Ventures. 

Investment details

The amount of the deal was not disclosed by the investors. The round was led by Tilia Impact Ventures and joined by co-investors Superhero Capital and Simpact Ventures.

  • Simpact Ventures is a Polish venture capital fund that focuses on impact investing, supporting startups in the Central and Eastern Europe region. 

  • Tilia Ventures is the first Czech fund to support startups combining scalable business models with symmetrical social impact outcomes. 

  • Superhero Capital is an early-stage fund focusing on B2B startups in the software sector, focusing on Finnish and Baltic startups with global ambitions.

The funds offer investment opportunities up to 2 million euros and provide business advice, management, and social impact measurement support. 

Fresh funds will be used to advance the MX Labs’ Shen.AI technology and boost its market presence.