Funding

[Funding alert] Munich-based Floy Secures €5.4 Million in Seed Round Funding

Nov 24, 2023 | By Startup Rise EU

Floy, a Munich-based company, secures €5.4 million in its seed round. With backing from All Iron Ventures and the ongoing commitment of current investors including SB21, xdeck ventures, 10xFounders, and dependable angel investors, HV Capital is leading the investment.

Floy, a Munich-based company, secures €5.4 million in its seed round. With backing from All Iron Ventures and the ongoing commitment of current investors including SB21, xdeck ventures, 10xFounders, and dependable angel investors, HV Capital is leading the investment.

Floy collaborates with radiologists to provide patients with their AI as a self-pay solution. Every year, more than 25 million CT and MR scans are carried out in Germany. The funds will be used to create new AI products and expand both in the US and the EU.

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Leander Märkisch, CPO of Floy, explains: "Each scan contains valuable, but often unused information. We employ the latest AI technology to help doctors derive additional insights for early disease detection."

According to Benedikt Schneider, CEO of Floy: "We captured 14 percent of the German radiology market in just two years since founding. This is a testament to the significant patient need we are addressing."

Dr Laura Seifert from HV Capital remarked: "We are very excited to support Floy on their journey to redefine the intersection of technology and healthcare. The team's strategic go-to-market approach finally makes AI commercially attractive for clinical routine, paving the way for widespread adoption, prevention at scale and significant patient impact."

About Floy

Floy helps radiologists identify disorders that are difficult to spot. For each patient they use Floy-AI for the benefit of, radiologists make money. Since its founding in 2021, Floy has shut down more than 100 radiology facilities and raised €3.4 million in investment.

Read also - Madrid-based Cüimo Secures €900k in Funding

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