Ada Health, a UK-based health app has raised €40 million. The round was led by Access Industries with participation from June Fund, Cumberland VC, and Evi Technology founder William Tunstall-Pedoe.
The app uses AI and input from medical doctors to help users manage their health. Users submit details on their conditions and symptoms to receive feedback on what condition they may have and what treatment they should seek. The company claims AI health apps will save time and resources for healthcare systems. More than 1.5 million people are using the app, it added.
“The future of healthcare lies in a much more patient-centric model where individuals have actionable insights at their fingertips, and doctors and artificial intelligence work together to support patients throughout their healthcare journey,” said CEO Daniel Nathrath.
This marks Ada Health’s first round of institutional funding. The new funds will be invested in the opening of a US office and growing its team of engineers, scientists, and medical advisors to further develop the product.
“[Ada has] developed a unique and highly effective health management solution driven by a team with deep medical and AI expertise and years of technology development,” said Guillaume d’Hauteville, vice chairman of Access Industries.