Spike funding news – Vilnius-based Spike Secures €3.2 Million in Oversubscribed Seed Funding

Axel Springer Porsche (APX), CEAS Investments, Plug & Play Ventures, Geek Ventures, and other Silicon Valley, New York, and Berlin-based investors participated in the round, which was co-led by Practica Capital and TheVentureCity.

In response to growing end-user demand, Spike provides digital health and healthcare companies with an AI integration solution that is safe, effective, and compliant.

AI is currently being incorporated into the operations of healthcare and health tech companies, which include hospitals, nutrition clinics, and fitness studios with scientific backing as well as digital health apps. By utilising the power of fresh health data, LLMs, computer vision, and other Machine Learning (ML) approaches, these organisations may provide their end-users with hyper-personalized and preventative health products.

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The tight regulatory compliance on sensitive health data, LLM hallucinations, fierce rivalry for AI technical expertise, long development timetables, and expensive prices are among of the major obstacles that integration of these technologies frequently faces.

It offers non-diagnostic, simple-to-implement RAG AI (Retrieval Augmented Generation) solutions to end users and health professionals through its white-labeled SDKs. Nurse co-pilots oversee post-treatment patient follow-up; physician co-pilots identify early anomalies from EHR and lab test data; personal trainer co-pilots summarise fitness progress based on wearable data; and dietician co-pilots assess nutrient value from meal images.

It's competitive advantage is their health data API aggregator platform, which pulls high-quality biomarkers from 300 sources. This platform enabled Spike get accepted into NVIDIA's Inception Programme, which is specifically intended for Silicon Valley-based GenAI firms. Customers of Spike include women's wellness app Moody Month, vagus nerve stimulator Pulsetto, sleep innovation business EMMA, workout applications Longevo and FITTR, and worldwide insurance major Seguros SURA.

Povilas Gudzius, Spike CEO and Co-founder, commented: “Advancements in retrieval-augmented generation AI mean that LLMs are no longer taking a ‘best guess,’ but are now able to seek out specialized context producing outputs that are much more accurate and considerably less prone to hallucinations. By incorporating this technology on top of Spike’s high-quality health data API, we’re enabling our clients to easily leverage these tools and improve the health of millions of end users.”

Donatas Keras, Partner at Practica Capital, said: “We were impressed by the Spike team’s technical expertise and go-to-market skills. Given their rapid traction and widespread adoption of AI products with formidable competitive moats, leading this round was a natural fit for us. As the influx of sensor data changes some parts of the health industry, Spike is well-positioned for significant growth, and we are excited to partner with such a forward-thinking team.”

Álvaro Sanz, Partner at TheVentureCity, added: “The fact that Spike was able to close an oversubscribed round and accumulate significant investor interest, particularly in this down market, is a validation of Spike’s potential.”

About Spike

Spike was founded 18 months ago by Povilas Gudzius, who previously worked on the Quant data and AI team at Bloomberg in NYC, and Cambridge-educated Chief Data Officer Nikita Pajanok.

Spike is a B2B Generative AI and Data tech startup for the Digital Health industry. It provides health and fitness data interpretation-as-a-service on top of user-generated data from Wearables and IoT devices.