- Digital medicine company Kiro has raised €13.8 million.
Kiro – a digital medicine company developing a platform that uses artificial intelligence (AI) to make lab test results more relevant to doctors and more understandable to patients – announced it has raised €13.8 million in a Series A funding, which brings the total capital raised since Kiro’s inception to over €17 million. This funding round was led by Sofinnova Partners, a leading European venture capital firm in life sciences, specializing in healthcare and sustainability.
Kiro is the first investment from Sofinnova Partners’ Digital Medicine Strategy. And previous investors, Bpifrance, through its Fonds Ambition Amorçage Angels (F3A), and Kurma Partners, together with Propulia Capital, as well as top European and US entrepreneurs and business angels, also participated in the round.
Kiro’s innovative technology utilizes AI and unique expertise in clinical biology to provide decision-making support that enables physicians to save time and focus more on individual patients’ needs. And at the same time, the platform helps patients understand their results over time so they can be more engaged in their own healthcare. Plus the AI model was trained on over 26 million lab reports to detect the early onset of diseases.
The new funding round will help Kiro further develop its technology and platform and it builds off of strong product usage with over 150,000 monthly active users to reinforce Kiro’s leadership position in France, expand commercial operations in Europe, and prepare entry into the US market.
KEY QUOTES:
“More than 70 percent of healthcare decisions are based on laboratory test results, but this information remains highly under leveraged. Kiro brings novel insights by standardizing and analyzing laboratory test results to drive an increased understanding of disease and patient outcomes. The team at Sofinnova understood from the beginning our mission and vision; they have a clear picture of the journey ahead and will help us navigate it successfully.”
— Kiro’s Founder and Chief Executive Officer, Alexandre Guenoun
“Kiro has the potential to combine laboratory tests with machine and deep learning algorithms to transform medical biology into a tool that empowers physicians and patients alike. We look forward to working with Alex and the team to revolutionize precision care: getting the right treatment for the right patient at the right time, but also in the right format – one that really talks to the patients themselves and makes them part of the journey.”
— Edward Kliphuis, Partner at Sofinnova Partners
