Eindhoven-based Autoscriber is a startup that is developing an AI-based voice recognition software to capture and summarise healthcare professional-patient consultation sessions. The startup announced that it has raised an undisclosed amount of funding in its pre-Seed round.
The investment came from LUMO Labs’ investment vehicle LUMO Fund II TTT.AI – which is part of the ICAI Venture Program. ICAI was founded by the University of Amsterdam and Vrije Universiteit Amsterdam.
Thematic Technology Transfer – Artificial Intelligence (TTT.AI) offers a specialised venture-building program and investment fund for knowledge/research-based AI startups. It unites eight Knowledge Transfer Offices (KTOs) of 10 knowledge institutions in Amsterdam, Utrecht, Nijmegen, and Eindhoven, as well as their activities, instruments, and networks. They are all operating on the front lines of current AI developments and represent over 50 top AI research groups and the majority of the leading AI scientists in the Netherlands.
Use of the funds
Healthcare professionals can access Autoscriber as a subscription-based software-as-a-service (SaaS) solution for large hospitals and practices, smaller practices, and general practitioners. And this raised capital will enable Autoscriber to go live in multiple hospitals during the next 12 months.
Here’s what Autoscriber offers
Founded this year in June (2021) by Jacqueline Kazmaier and Koen Bonenkamp, Autoscriber develops AI-powered speech recognition and natural language processing technologies to extract structured data from conversations between physicians and patients.
The technology was developed in collaboration with the Clinical Artificial Intelligence and Research Lab (CAIRELab) at Leiden University Medical Center. With this software, Autoscriber aims to reduce the administrative burden on medical professionals, free up time to spend caring better for patients, and enhance capabilities along the entire healthcare supply chain.
The software can support doctors in real-time by drafting medical notes, providing relevant insights into the patient’s medical history, and analysing patient and population trends. As for the patients, it can help control their health journey by sharing information received by the doctor with their loved ones and keep track of their symptoms and medications over time.
Autoscriber aims to deliver three crucial healthcare trends:
- Affordable and accessible healthcare for all
- The growing importance of structured/discrete data capture to support data-driven healthcare initiatives
- The increasing desire for understanding and self-determination among patients
Bonenkamp, co-founder and CTO of Autoscriber, explains, “Every design choice we make we validate with the physician in a clinical setting. Autoscriber software records, transcribes and extracts clinical concepts during consultations. It allows for automated summaries and integration in the patient’s Electronic Health Record that can be easily edited by the physician, providing real-time support for diagnostics and personalised care.”
The company is supported by partners including Leiden University Medical Centre (LUMC) and Google. With LUMC, Autoscriber gets access to high-quality annotated data, access to user testing in physician-patient consultations, and research to validate benefit claims. And as for Google, it offers computing and development resources, a financial grant, and marketing & distribution assistance.
About LUMO Labs
Founded in 2016 by Andy Lurling and Sven Bakkes, Eindhoven-based LUMO Labs creates opportunities for impact-driven software and smart hardware startups. The current LUMO Fund II is a €20M impact-driven multi-stage capital fund (pre-seed up to and including Series A). It includes a two-year venture builder program to support its portfolio companies in gaining financial success as well as social traction and impact.
The company backs startups that align with at least one of the three UN Sustainable Development Goals:
- Sustainable Cities & Communities
- Good Health & Well-Being
- Quality Education
According to LUMO Labs, the investment in Autoscriber meets and/or exceeds its investment fundamentals, including a strong entrepreneurial founding team with deep expertise, proof-of-concept, and the aim to improve the lives of caregivers and patients.
Speaking on the development, Andy Lürling says, “The problem Autoscriber is solving is universal: reducing time and money spent on repetitive, administrative tasks by physicians while increasing transparency, comprehensibility and human interaction in deeply personal treatment situations. Their solution is dynamic and highly scalable because of the strong technological and human-centred set-up.”