IOMED, a Barcelona, Spain-based company that uses artificial intelligence (AI) to extract healthcare data from hospital sources, raised €10 million in Series A funding.
The round was led by Philips Ventures and XTX Ventures, with participation from Fondo Bolsa Social, Redseed, Adara Ventures, and EASO Ventures.
Founded in 1998, Philips Ventures is the venture capital arm of Philips based in Amsterdam, Netherlands. The firm prefers to invest in the healthcare and technology sectors.
XTX Ventures is a corporate venture capital arm of XTX Markets, based in London, United Kingdom. The firm seeks to invest in seed and early-stage companies operating in health-tech, agri-tech, robotics, insurance, advertising, capital markets, fintech, and machine learning sectors.
IOMED Use of Funds
The funding will be used for international expansion and to strengthen its position in the healthcare technology sector.
Founded in 2016 by Alvaro Abella, Gabriel de Maeztu, and Javier Oca, IOMED develops AI-powered technology for healthcare data activation, extracting valuable information from structured and unstructured sources, including human-written records, using Natural Language Processing. They activate data from both structured and unstructured sources, including human-written records. At IOMED, they aim to lay the foundation for data-driven medicine and ensure that medical practice is based on evidence and real-world data.
Company: IOMED MEDICAL SOLUTIONS, SL
Round: Series A
Funding Month: September 2023
Lead Investors: Philips Ventures and XTX Ventures
Additional Investors: Fondo Bolsa Social, Redseed, Adara Ventures, and EASO Ventures
Company Website: https://iomed.es/
Software Category: AI-driven Healthcare Data Solutions