VitVio funding news – London-based VitVio has Secured €1.8 Million in Pre-Seed Funding

The funding was led by LDV Capital, with support from Bek Ventures, Tiny Supercomputer Investment Company, and angel investors.

The Royal Orthopaedic Hospital (ROH) NHS Foundation Trust known for its expertise in orthopaedic care has started a pilot program with VitVio’s platform to improve the safety and efficiency of surgeries.

Thomas Knox, Co-Founder and CEO at VitVio, said, “The Royal Orthopaedic Hospital is known as one of the UK’s leading institutions in terms of outcomes and efficiency and, naturally, they have decided to utilize our platform and leverage the cutting-edge AI technology to even further increase the efficiency of surgical procedures, By autonomously tracking surgical processes and tools, VitVio minimises the potential for human error and adds no extra steps to the surgical process, aligning with industry experts’ consensus on the importance of non-intrusive technology.”

Steve Washbourne, Executive Director of Finance at the ROH said: “We are excited to be partnering with VitVio to take advantage of advances in technology that will help us drive improvement in our theaters. The NHS faces significant challenges, so we need to be innovative to find solutions. New technology is one area we have been keen to explore – though this collaboration isn’t just about advanced technology. It is about empowering our staff with the tools they need to focus on what matters most – providing the best care for patients. By streamlining processes we’re looking forward to a more efficient surgical experience.”

It reports that the NHS is under pressure, with 7.6 million people on waiting lists by April 2024, a threefold increase since 2010. In the US, inefficiencies in operating rooms (ORs) lead to an extra €67.9 billion in costs each year, not including other delays or additional costs. VitVio’s platform helps tackle these issues by improving resource use, reducing surgery complications, and cutting waste.

Read also - Alstin Capital funding news – Munich-based Alstin Capital has Secured €175 Million in Funding

Evan Nisselson, Founder and General Partner at LDV Capital said, “We at LDV Capital are thrilled to partner with the brilliant team at VitVio. Their real-time AI-powered platform will exponentially increase operating room ROI and safety for hospitals while hopefully positively impacting patient care. VitVio will deliver a leapfrog technical solution to operating theaters by leveraging computer vision and artificial intelligence which have been a core expertise of our LDV Capital firm since being founded in 2012,”.

Cem Sertoglu, Managing Partner at Bek Ventures said, “When we met the founder team at VitVio, we were immediately attracted to their technical capability proven out in an adjacent area and the giant impact that VitVio’s technology can have on the economics of hospitals, as well as improved health outcomes. The vast advantage that applied AI can bring to healthcare makes for a very compelling investment case. We are excited to partner with VitVio on its journey,”.

The recent funding will help it expand its platform and roll out the technology in hospitals across the US, UK, and Europe. More partnerships with top hospitals will be announced soon.

About VitVio

VitVio was founded by Thomas Knox (CEO), Dr. Peter Rennert (CTO), Maks Kozarzewski (COO), and Aleks Pajewski (CPO). The team uses their expertise in computer vision and AI, gained from over 150 projects at top autonomous retail companies AiFi and Standard AI. This experience helps VitVio address inefficiencies in hospitals, where operating rooms make up 40% of costs.