European deep tech startups are heading towards scaling up. As per The State of European Tech report, the tech industry is growing almost five times faster than other industries and has added gross value to the economy.
Deep tech focuses on technologies including Artificial Intelligence, Augmented Reality, autonomous vehicles, robotics, big data, Virtual Reality and more. Startups across industries including fintech, hardware, e-commerce, medtech, life sciences, etc. use these technologies. When it comes to healthcare and medtech, technology is used to treat ailments relatively easier and come up with numerous advancements in the field.
In the realm of deep tech, here we have come up with a list of deep tech healthcare startups changing the industry in Europe in 2019 as sourced from Dealroom.
Babylon Health (UK)
Founders: Ali Parsa
Valuation: $2 billion
Total Funding: €577 million
Founded Year: 2013
Why its hot: London-based Babylon Health operates with the mission to democratise healthcare for the digital age with its app. The Babylon app provides free health checks, lets consulting a doctor possible 24/7, delivers prescriptions, and makes healthcare more accessible and affordable for people. Earlier this month, Babylon Health secured €495 million Series C funding and it is considered one of the largest funding rounds in a digital health delivery startup.
Oxford Nanopore Technologies (UK)
Founders: Gordon Sanghera, Hagan Bayley
Valuation: £1.5 billion
Total Funding: €529 million
Founded Year: 2005
Why its hot: Oxford Nanopore Technologies works with the goal to disrupt the paradigm of biological analysis. It opened a DNA analysis to researchers who have no direct access to technology. This lets them carry out analyses in real-time in their own labs. Oxford Nanopore Technologies has developed the world’s first nanopore DNA sequencer dubbed MinION, which is a low-cost, real-time and portable device facilitating easy biological analyses.
Symphogen (Denmark)
Founders: John Haurum, Kirsten Drejer, Thomas Feldthus
Valuation: €164 million to €246 million
Total Funding: €287 million
Founded Year: 2000
Why its hot: Symphogen’s strategic priority is to commercialise powerful research and preclinical development platform. It aims to become a preferred partner for the discovery and development of highly differentiated antibody therapeutics. Symphogen uses the strength of its technology platform and productive research engine and has delivered high-quality antibodies with distinct functional properties. The company has developed combination therapies positioning them at the core of future cancer treatments.
BenevolentAI (UK)
Founders: Brent Gutekunst, Ivan Griffin, Ken Mulvany, Michael Brennan
Valuation: $2.1 billion
Total Funding: €195 million
Founded Year: 2013
Why its hot: BenevolentAI works with the aim to dig deep into data to find insights and solutions and apply them to transform the way medicines are discovered, developed, tested, and marketed. The company recently teamed up with AstraZeneca. The latter is a US-based global pharmaceutical company, which will use BenevolentAI’s target identification platform and biomedical knowledge graph along with its genomics and clinical data.
CeQur (Switzerland)
CEO: James Peterson
Valuation: $400 million to $600 million
Total Funding: €142 million
Founded Year: 2008
Why its hot: CeQur is dedicated to help people suffering from diabetes manage their disease by developing and commercialising drug discovery devices integrated easily into their daily lives. CeQur’s wearable insulin delivery device can be used for three days at a time. The discreet and simple design lets people experience the benefits of intensive insulin therapy while remaining free from daily insulin injections.
CMR Surgical (UK)
Founders: Luke Hares, Mark Slack, Martin Frost
Valuation: $400 million to $600 million
Total Funding: €133 million
Founded Year: 2014
Why its hot: CMR Surgical aims to make minimal access surgery available for everyone. It is not just another medical device company as it aims to bring about a paradigm shift in the field of robotic-assisted surgery. CMR Surigcal’s Versius is a next-generation tool designed to fit seamlessly into the operating rooms and work in harmony with the surgeons to improve outcome and drive the value of healthcare providers.
SOPHiA GENETICS (Switzerland)
Founders: Jurgi Camblong, Lars Steinmetz, Pierre Hutter
Valuation: €268 million to €402 million
Total Funding: €124 million
Founded Year: 2011
Why its hot: SOPHiA GENETICS operates with the mission to bring data analytics solutions to the market to support healthcare professionals. This is possible as the company maximises the power of data-driven medicine. The company achieves its mission with the global adoption of SOPHiA artificial intelligence. It is build using techniques including machine learning, pattern recognition and statistical interference.
SuperSonic Imagine (France)
Founders: Claude Cohen-Bacrie, Damien Dolimier, Jacques Souquet
Valuation: €28 million
Total Funding: €113 million
Founded Year: 2005
Why its hot: SuperSonic Imagine (SSI) specialises in ultrasound medical imaging. The company manufactures its flagship Aixplorer series of products that feature SSI’s exclusive UltraFast technology. UltraFast paves the way to new imaging modes that set the standards of care for non-invasive characterisation of liver, breast and prostate diseases. To date, the company has installed over 2,000 ultrasound systems across 80 countries.
Median Technologies (France)
Founders: Fredrik Brag, Gerard Milhiet
Valuation: €78 million to €118 million
Total Funding: €84.5 million
Founded Year: 2002
Why its hot: Median Technologies provides innovative imaging solutions and services to provide advanced healthcare for everyone. As an imaging phenomics company, it provides insights into novel therapies and treatment strategies. The unique solutions of Median Technologies are used in the analysis and management of oncology clinical trials. It has developed an investigational imaging phenotyping platform iBiopsy along with a team of experts across the world to develop new drugs and diagnostic tools to assess response and monitor the disease.
Xeltis
Founders: Martijn Cox
Valuation: €180 million to €270 million
Total Funding: €79.4 million
Founded Year: 2006
Why its hot: Xeltis is a clinical-stage medical device company pioneering a restorative approach in cardiovascular therapy. Xeltis technology platform called RestoreX is the world’s first polymer-based technology designed to enable the natural restoration of cardiovascular function via Endogenous Tissue Restoration, a therapeutic approach.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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