The founders Benedikt Schneider (left) and Leander Märkisch

Floy: Sustainable use of AI for radiology

The Munich-based startup 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. An interview with the two founders, Benedikt Schneider and Leander Märkisch.

Munich Startup: What does Floy do? What problem do you solve?

Benedikt Schneider, co-founder and managing director of Floy: We support radiologists in the reliable Detection of critical abnormalitiesIn a hurry, unexpected abnormalities can easily go undetected. Floy provides additional security.

Munich Startup: But that's been around for a long time!

Leander Märkisch, co-founder of Floy: Floy isn't the only AI company in radiology. So far, however, we're the only company that's managed to offer radiologists an attractive option for sustainable AI deployment. This is reflected in our traction.

Sales processes are challenging

Munich Startup: What is your founding story?

Benedict Schneider: I myself had a meniscus tear that couldn't be adequately repaired due to a delayed radiological diagnosis, and it subsequently tore again. At the time, I wondered why AI wasn't already being used in this area.

Munich Startup: What have been your biggest challenges so far?

Leander Märkisch: The sales processes to Germany's largest radiology chains are a major challenge. Our product, concept, and company have been examined and evaluated in great detail from all perspectives over a long period of time. We are pleased that we have already won over Evidia and RH.

Floy: Global impact in sight

Munich Startup: How are things going?

Benedict Schneider: We're currently celebrating the completion of our 100th German partner practice. This represents a major achievement for us. We're now cautiously beginning to acquire international partner practices.

In one year, we aim to be able to help nearly 90 percent of all MRI and CT patients with our product in even more German and already some international practices. In five years, we hope to slowly generate global impact.

Munich Startup: How have you experienced Munich as a startup location so far?

Leander Märkisch: Excellent! The support of many investors, the great talent, and the many medtech companies make us feel very comfortable!

Munich Startup: Quick exit or long breath?

Benedict Schneider: Stay tuned. Impact is a marathon, not a sprint!

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