Floy uses artificial intelligence (AI) to help radiologists detect difficult-to-see abnormalities. Founded in 2021, the startup secured €1.3 million in pre-seed funding from German investors in its founding year and €2.1 million in seed funding from European investors in July 2022.
The Munich-based startup has now closed another financing round of €5.4 million. The round is led by HV Capital, with All Iron Ventures and existing investors such as 10x Founders and Xdeck Ventures. With the newly raised capital, Floy plans to drive national and international expansion and develop new AI products. Benedict Schneider, CEO of Floy, says:
"In just two years since our founding, we have captured 14 percent of the German radiology market. This is proof of the great patient need we are meeting."
“Commercially attractive for clinical routine”
And Laura Seifert from HV Capital added:
"We are thrilled to support Floy on his journey to redefine the intersection of technology and healthcare. The team's strategic go-to-market approach is finally making AI commercially attractive for routine clinical practice, paving the way for widespread adoption, large-scale prevention, and significant patient impact."
Floy is developing AI-driven software to assist radiologists in detecting complex and difficult-to-identify diseases. The collaboration between AI and radiologists ensures optimal patient outcomes by enabling early detection and thus early treatment of diseases. The Munich-based startup is collaborating with radiology practices to jointly offer patients AI as a "second view."
