LANGaware – a US-based company revolutionizing cognitive and mental health diagnostics through AI-driven technology – recently announced it successfully raised $2 million in funding. Eleven Ventures, a leading early-stage venture capital firm in Southeast Europe, led the seed funding round. Strategic investors from the healthcare industry and existing investor Metavallon VC also participated in the round.
Launched by Dr. Vassiliki Rentoumi, a renowned researcher in Natural Language Processing and Computational Linguistics, LANGaware employs Artificial Intelligence (AI) to predict and monitor cognitive and mental health conditions like Mild Cognitive Decline, Alzheimer’s Disease, and Depression. By utilizing language, voice, and speech through digital biomarkers, their patented technology offers a new lens for healthcare. Developed through several years of research, the platform has been rigorously tested and proven effective in both clinical and virtual care settings in the US and Greece, improving patient outcomes and reducing healthcare costs. LANGaware also aids health systems, providers, and pharma firms by facilitating early detection and tailored support for those at risk or impacted by neurodegenerative and psychiatric disorders, ensuring accurate diagnoses, and minimizing misdiagnoses and unnecessary treatments.
Eleven Ventures – known for its expertise in nurturing and scaling innovative startups – is a strategic partner for LANGaware in this funding round. The firm also has an impressive track of identifying and supporting companies at the forefront of health-tech breakthroughs, ensuring that transformative solutions reach those who most need them. The funding round will enhance LANGaware’s technology and product teams, boost their AI capabilities, develop comprehensive data-driven solutions, and expand the company’s business development team and presence across virtual care platforms and health systems in the US.
Through AI-powered solutions, LANGaware is striving to create a world where individuals receive timely interventions – leading to improved outcomes and a higher quality of life.
KEY QUOTES:
“We are thrilled to secure $2 million in funding, with support from Eleven Ventures, Metavallon VC, and strategic angels in the healthtech sector. This investment propels us forward, unlocking the potential to revolutionize healthcare systems by unleashing the full power of AI. By harnessing the power of technology, we aim to alleviate the strain on overburdened healthcare systems while driving down costs and fostering a future where accessible, high-quality healthcare is a fundamental right for all.”
- Vassiliki Rentoumi, Founder and CEO of LANGaware
“‘Problem’ is a light word to describe the domino effect of late-stage diagnostics in neurodegenerative disorders. For example, Dementia Medicare beneficiaries receive nearly 3x > payments compared to other receivers but early diagnostics can save up to $14K annually for payers, a 1/3rd of the total cost. Through its speech-based flagging system for early detection, LANGaware is an example of how even the most pressing issues in healthcare can be addressed through the power of science and technology. We are excited to support LANGaware in their mission to impact millions of lives and contribute to a more efficient and timely treatment.”
- Valeri Petrov, Partner at Eleven Ventures
