AI expert XUND GmbH bags €6m seed financing

The Austrian start-up XUND GmbH  has succeeded in convincing high-profile investors from the pharmaceutical, digital health, hospital and insurance sectors of its mission to jointly build the healthcare system of tomorrow. The seed round is led by global investors MMC Ventures (UK) and MassMutual Ventures (USA)with RoX Health (a subsidiary of the Roche Group based in Berlin) and LANA Ventures (the family office around the former PhagoMed founders) participating, whose investment complements the existing investors of the Haselsteiner Family Private Foundation, led by Peak Pride, the Tyrolean Business Angels (TBA) and 2m-quadrat AG.

The company said it will use the fresh capital to further its growth in Germany, drive expansion beyond the DACH region and enter new markets in Europe. As a medium-term goal, XUND plans to expand into the US, with Food and Drug Administration (FDA) market entry preparations already underway. The latest funding will also enable the start-up to expand its product portfolio along the Patient Journey and integrate further promising application possibilities.

Founded in Vienna in 2018, healthtech start-up enables healthcare providers to digitise the Patient Journey, translating unstructured data from patients into actionable knowledge. XUND’s core product is an AI-powered technology that provides symptom and risk assessment to give patients a reliable initial assessment and initiate the right next steps. XUND’s technology is used as a digital front door by leading insurance companies, hospitals and pharmaceutical companies, and is also used in the healthcare industry. Using artificial intelligence (AI), XUND GmbH can automatically analyse and process millions of medical publications to create the basis for its solutions. Proven algorithms that combine symptoms, personal risk factors and patient demographics identify statistically and medically relevant causes of complaints. The shift from purely reactive disease treatment to preventive care and efficient disease management benefits multiple parts of the healthcare ecosystem, including patients, insurers, healthcare providers and pharmaceutical companies. With the development of an API interface that is the only one in its field approved as a class IIa medical device in the European market, XUND has won the trust of several renowned customers. These include Wiener Städtische Versicherung and Generali in Germany, which were able to build their own digital ecosystem with the help of XUND’s technology.