Taken from https://www.accesswire.com/746107/Kiro-Cutting-Edge-Digital-Medicine-Company-Raises-138-Million-in-Series-a-Funding-Led-by-Sofinnova-Partners
PARIS, FRANCE / ACCESSWIRE / March 28, 2023 / Kiro (“The Company”), 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 that it has raised €13.8 million in a Series A funding, bringing the total capital raised since Kiro’s inception to more than €17 million. The financing 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. 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 leverages AI and a unique expertise in clinical biology to provide decision-making support that enables physicians to save time and focus more on individual patients’ needs. At the same time, the platform helps patients understand their results over time, so they can be more engaged in their own healthcare. The AI model was trained on more than 26 million lab reports to detect the early onset of diseases.
The new funding will help Kiro further develop its technology and platform, building off of strong product usage with more than 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.
“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,” Kiro’s Founder and Chief Executive Officer, Alexandre Guenoun, said. “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 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,” said Edward Kliphuis, Partner at Sofinnova Partners. “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.”
About Kiro
Founded in 2019, Kiro is the first AI-powered digital health platform for clinical biology in Europe. It is committed to developing new approaches to medical biology using medical-grade artificial intelligence and cloud technology and leverages laboratory results to bring better outcomes for patients. Developed in partnership with leading laboratories, hospitals and physicians, and already used by millions of users, Kiro’s solutions provide personalized and easy-to-understand results for patients and caregivers while helping healthcare providers better follow and treat their patients with real-time clinical decision support tools (prevention, diagnosis…). Medically validated, the system can help interpret data from a broad range of lab tests and generate a report within seconds, enabling faster and more efficient patient care and empowering clinicians worldwide to better deliver their expertise.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management.
For more information, please visit: sofinnovapartners.com
About Bpifrance and Bpifrance Digital Venture
Bpifrance Investissement finances companies – at every stage of their development – in credit, col-lateral and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also provides extra financial services (training, consultancy…) to help entrepreneurs meet their challenges (innovation, export…).
Bpifrance Digital Venture is the VC team within Bpifrance, dedicated to digital and tech companies aiming to become global leader on their market. It focuses on Seed and Series A/B stages. With €700 million under management, the team has backed 110+ companies and had 28 exits since 2011.
Launched in 2016 and endowed with €50 million, the Fonds Ambition Amorçage Angels (F3A), managed by Bpifrance Digital Venture within the framework of the Programme d’Investissements d’Avenir (PIA), is designed to co-invest with business angels in young innovative digital companies at the seed stage with a strong potential of growth.
Follow on Twitter: @Bpifrance – @BpifrancePresse – @BpifranceDV
About Kurma Partners
Kurma Partners is a key European Venture Capital firm specialized in healthcare, with more than €700 million under management, with two dedicated franchises: “Kurma Biofund” focused on venture investments in therapeutics (current active fund KBIII) and “Kurma Diagnostics” focused on venture investment in diagnostics and digital health (current active fund Kurma Dx2). Kurma Partners has launched its first “Growth Opportunity Fund” further to its first closing in early 2022. Kurma Partners is part of the Eurazeo Group.
| Company contact: Alexandre Guenoun (Kiro) press@kiro.bio www.kiro.bio/ |
Press contact: Anne Rein(Strategies&Image) anne.rein@strategiesimage.com +33 (0) 6 03 35 92 05 |