Digital health startup Tonic App has closed a Series A investment round of €10.85 million.
Founded in 2016, Tonic App solves the fragmentation of tools and knowledge physicians need for their daily practice across diagnosing and treating patients and administrative and personal tasks,
Its 360º platform combines knowledge and clinical decision support tools, educational content, a video consultation system, and job vacancies, among resources such as medical device certification, a CME-accredited e-library, and an AI virtual assistant.
The company was the first in Europe to launch a genAI-powered virtual assistant for physicians, already used by 25,900 medical doctors. It is expected to certify it as a medical device by September.
In Q2, Tonic App will launch Tonic Scribe, a tool that allows automated transcription and summarisation of clinical notes.
More than 140,000 doctors currently use the platform in Portugal, Spain, Italy and France.
Clients include AbbVie, MSD, Roche, AstraZeneca and Medtronic, and medical recruitment companies.
BlueCrow Capital and Iberis Capital co-led the investment. Vesalius Biocapital III, Armilar Venture Partners, Shilling VC, and FSNB Health & Care also participated.
Daniela Seixas, medical doctor, co-founder and CEO of Tonic App, explains:
"Obtaining venture capital investment became more difficult. The size and timing of this round gives us an advantage over our existing competitors, which we will seize.
Soon, we will be operating in Europe's five largest healthcare markets, which is a huge opportunity for our pharma clients."
António Mello Campello, co-founder of BlueCrow Capital, shared:
"The growing interest in the technology sector and the subset of AI has led us to search for a company where technology and AI are used in harmony with humans and for their benefit.
Tonic App has proven to be an investment opportunity in a sector and technology of great importance for human development."
The funds will help the company to expand into new regions, hire senior talent, and invest in AI.
Lead image: Tonic App. Photo: uncredited.
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