Kiro, a Paris, France-based digital medicine company developing a platform that uses AI to make lab test results more relevant to doctors and more understandable to patients, announced that it raised €13.8 million in Series A funding, bringing its total raised to more than €17 million.
The round was led by Sofinnova Partners, with participation from previous investors, including 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.
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's breakthrough technology uses artificial intelligence and a unique understanding of clinical biology to give decision-making support, allowing clinicians to save time and focus more on the requirements of individual patients.
At the same time, the platform assists patients in understanding their outcomes over time, allowing them to become more involved in their treatment. The AI model was trained on more than 26 million lab reports to detect the early onset of diseases.
Company: Byond SAS
Round: Series A
Funding Month: March 2023
Lead Investors: Sofinnova Partners
Additional Investors: Bpifrance and Propulia Capital
Company Website: https://www.kiro.bio/
Software Category: AI-powered Digital Health Platform
About the Company: 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). The company’s mission is to improve interactions between laboratories, healthcare professionals, and patients, to enable them to go further in their care thanks to new technologies and artificial intelligence.