QuantHealth, a Tel Aviv, Israel-based startup that develops an AI-powered platform to help drug makers avoid clinical failures, has secured $15 million in Series A funding.
The round was led by Bertelsmann Investment and Pitango HealthTech, with participation from existing investors Shoni Top Ventures, Nina Capital, and Nova Capital.
Founded in 2016, Bertelsmann Investments is the venture capital arm of Bertelsmann based in Gütersloh, Germany. The firm seeks to invest in startups operating in the media, e-commerce-related services, fintech, and educational services sectors.
Pitanto HealthTech is Pitango’s dedicated health tech, medical device, and life sciences investment fund. Pitango has been a leader in healthcare investment in Israel for nearly three decades. The HealthTech fund invests in companies from seed and early stage to commercial stage companies across the health tech sector, from digital health to medical devices and diagnostics, to foodtech, ag-tech, biotech, and life sciences.
QuantHealth Use of Series A funds
The new capital will enable the startup to support clinical development teams with its flagship trial design solution and expand its platform for preclinical and drug discovery functions, as well as expand its commercial team and operations.
Founded in 2020, QuantHealth is an AI company conducting patient-centric drug simulations to accelerate and de-risk drug development. Its platform allows its pharma and biotech partners to rapidly run thousands of variations of their clinical trials to optimize the trial design and significantly increase the probability of trial success, all while enabling the discovery of new clinical opportunities and optimization strategies.
Company: QuantHealth Ltd.
Round: Series A
Funding Month: August 2023
Lead Investors: Bertelsmann Investment and Pitango HealthTech
Additional Investors: Shoni Top Ventures, Nina Capital, and Nova Capital
Company Website: https://quanthealth.ai/
Software Category: AI-based Drug Development Data Software