Flinn.ai funding news – Vienna-based Flinn.ai Raises €10 Million in Funding

Leading the recent investment round was Cherry Ventures. It intends to use this financing to expand its product and market offerings more quickly. Specifically, it wants to further improve its AI-driven quality management and regulatory compliance modules.

A number of well-known business angels, including Michael Reitermann, the former CEO of Siemens Diagnostics, and Matthias Weber, the former president of Leica Biosystems, participated in Flinn.ai's investment round in addition to Cherry Ventures.

Bastian Krapinger-Rüther, co-founder and CEO of Flinn.ai said, “Our AI solutions offer huge potential to significantly improve the quality of existing medical devices. With the support of Cherry Ventures and our other investors, we can further accelerate our vision of making high-quality healthcare products accessible to everyone,“

By incorporating AI-powered automation into data processing, review, and reporting, MedTech firms may increase the efficiency of their compliance processes tenfold using it's Software-as-a-Service (SaaS) solutions.

Filip Dames, Partner at Cherry Ventures, emphasised the importance of investing in the company: “We invested in Flinn.ai because we believe the company’s innovative approach is uniquely positioned to capitalise on the evolving MedTech landscape. As regulations become more restrictive, Flinn.ai’s differentiated product offering is poised to make its mark in an underserved market. We at Cherry are thrilled to be working with a team that combines deep industry expertise and cutting-edge technology, making Flinn.ai the ideal disruptor in this new era of medtech.”

Medtech producers are facing significant problems due to the growing complexity of regulatory requirements, especially during the implementation of the EU Medical Device Regulation (MDR). Due to the new legislation' substantial increase in compliance costs, many businesses have been forced to drop less lucrative niche items or leave less lucrative sectors.

This trend increases the obstacles for new inventors to enter the market and jeopardizes the availability of critical medical devices globally, such as defibrillators for babies. For this reason, businesses using Flinn.ai include Erbe Elektromedizin GmbH.

Helmut Scherer, Chief Technology Officer at Erbe Elektromedizin GmbH said, “Flinn.ai’s product development has impressed us across the board! Right from the start, they listened carefully and precisely identified which solutions would not only improve our processes but also simplify them. A good example is the introduction of the software for safety database monitoring, which has helped us to automate and speed up these repetitive and monotonous tasks. This has not only enabled us to reduce personnel costs, but above all to increase the satisfaction of our employees. They can now devote themselves to more exciting and value-adding tasks instead of spending their time on copy-paste activities,”

About Flinn.ai

Flinn.ai's mission is to improve the health of millions of people worldwide by helping medical enterprises introduce and run their products more effectively. They developed an experimentation-driven, customer-centric approach to product development in order to realize this objective.