Medicus AI is a fast-growing smart platform and app, which translates medical reports and health data into personalised explanations and health insights that are easy to understand. It provides these in the form of an interactive experience. The company operates with the intention to bring health literacy and positive behavioural change to users and patients across the world with its innovative tech products.
The Austrian startup’s mission is to contribute to the continuously evolving healthcare industry by modifying the way doctors and patients see health. The company builds products that are intuitive and smart.
Series B funding in H1 2020
Earlier this year, Medicus AI announced the closure of €5 million Series A funding and successfully announced expansion in China with €1.2 million seed funding. Now, the company has announced that it has raised €20 million Series B funding, which will close in H1 2020.
Notably, this is the first round of investment in the Chinese subsidiary. The funding round is led by Sunhope, a Chinese and international VC along with contributions from previous investors. The expansion into China was announced officially during the D-Day event organised by Ping An Cloud Accelerator in Shenzhen last month. And, Medicus has confirmed to have a number of projects in China including its flagship project alongside the largest life insurer in the country.
Global expansion plans!
After having set foot in China, Medicus AI is eyeing for global expansion into key markets such as the Netherlands, Belgium, Japan, Portugal, and Brazil.
Dr. Baher Al Hakim, CEO, Medicus, said, “This year, in every market we’ve explored from Brazil all the way to Japan and Australia, whether by design or in response to an opportunity, we learned about developing trends and opportunities confirming the faster-developing space for our solutions! We are more confident than ever that this is the right time for Medicus AI to be available in these new markets as well as in markets that we haven’t explored yet. This is driving our decision to grow faster than initially planned.”
Supports a range of solutions across markets
Currently, Medicus AI supports the diagnostic, insurance, and wellbeing sectors with its range of solutions that deliver medically verified and locally adapted insights across markets such as Germany, France, Luxembourg, the Middle East, and Switzerland among others.
Main image picture credits: Medicus AI
Stay tuned to Silicon Canals for more European technology news.