Romanian startup Parol, which automates medical documentation using AI, has secured €1.2 million in fresh funding. GapMinder Fund II is the lead investor, providing €1 million during the round, The Recursive reports.

About Parol

  • Parol is a Bucharest-based company, founded in 2022 by Claudiu Pândaru, Alex Livadaru, Alex Tepeș, and Valentin Ichim. It provides an AI-powered platform that transforms the way healthcare documentation is managed. 

  • The platform transcribes in real-time the conversation between the doctor and the patient in Romanian and English, detects the change of speakers and automatically fills in documents such as the medical record.

  • According to the company, the service generates complete and accurate medical records in seconds, allowing doctors to focus on patient care.

“Parol is an excellent example of a company using AI to address real needs in the healthcare market. This unique combination of advanced technology and deep healthcare knowledge positions Parol as a leader in the rapidly evolving healthcare technology landscape. Parol not only reduces the time doctors spend documenting, but it does so in an efficient and accurate way that convinced us to invest,” stated Robert Herscovici, Investment Director at GapMinder Ventures.

Investment details

The round was led by GapMinder Fund II which invested €1 million in Parol. This investment in Parol is part of GapMinder's strategy to support Artificial Intelligence-based solutions that offer immediate added value and potential to scale globally.

  • GapMinder VC is a venture capital firm focused on investing in hyper-growth, early-stage B2B startups in the AI/Deeptech and SaaS sectors, born in Southeast Europe (SEE) and its diaspora. 

  • The fund is dedicated to supporting visionary founders and teams developing innovative technologies with global scaling potential. GapMinder VC typically invests in Seed rounds ranging from €0.5 million to €5 million, with follow-on investments up to €12 million.

This is the second funding round secured by Parol. In August 2022, the startup raised €500,000 from The Mavers Ventures, Cleverage VC, and angel investors.