Polish medtech Saventic Health has secured $2.1 million in a bridge funding backed by 4growth VC, Poland’s NCBR Investment Fund and the US-based TNI Fund. The funding will be used to support further expansion in Europe, South America, and Canada. 4growth shared the news with AIN.

About Saventic Health

  • Saventic Health is a medtech company founded in 2019 by Szymon Piątkowski and Professor Grzegorz Basak. It develops artificial intelligence algorithms to help doctors diagnose rare diseases at a relatively early stage based on patients' medical records, i.e. laboratory test results, radiology and other descriptive medical data.

  • Saventic Health has developed 50 AI algorithms capable of identifying the most common rare diseases. AI algorithms analyze patients’ medical records in detail and provide doctors with suggestions for further action.

  • According to the press release, the efficiency of this approach is significantly higher than existing methods, and the process is faster and more cost-effective.

"Our international presence confirms that our algorithms are effective and well-received by our clients and partners. The healthcare, biotechnology, and innovation sectors are currently building a completely new market from scratch, fueled by the AI revolution. Our startup culture and highly skilled team enable us to be one of the key players in this field," Szymon Piątkowski, CEO of Saventic Health, commented.

The startup already has partnerships with more than 30 clinics and hospitals in Poland, Germany, France and Brazil. In Canada, Saventic Health is working with an operator that manages multiple hospitals and medical centers connected through a centralized electronic health record system.

Investment details

The US-based VC fund TNI Fund is among the Saventic Health’s new investors along with Poland’s NCBR Investment Fund. In addition, the Warsaw-based fund 4growth VC, which first invested $2.2 million (PLN 10 million) in Saventic Health in 2022, has increased its stake.

"We are now focusing on entering the Austrian, Swedish, Spanish, and Italian markets, leveraging the fact that our algorithms are registered as medical devices across the European Union. We are also expanding our presence in South America… beginning operations in Colombia, Peru, and other digitally advanced countries in the region," Szymon Piątkowski added.

This bridge funding will be used to support Saventic Health’s further expansion in Europe, Canada, and South America.

Previously, AIN informed that 4growth VC and Montis Capital invested in Polish marketplace Plenti.