Floy helps radiologists detect difficult-to-spot abnormalities using artificial intelligence (AI). The startup, founded in 2021, already secured a €1.3 million pre-seed financing round from German investors in its founding year and a seed financing round of €2.1 million from European investors in July 2022.
Now the Munich-based startup has successfully completed another funding 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 continuing to participate. With the newly raised capital, Floy aims to drive national and international expansion and develop new AI products. Benedikt 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 need we are addressing.”
“Commercially attractive for clinical routine”
And Laura Seifert from HV Capital adds:
“We are very pleased to support Floy on its path to redefine the interface between technology and healthcare. The team’s strategic go-to-market approach finally makes AI commercially attractive for clinical routine and paves the way for widespread adoption, large-scale prevention, and significant patient impact.”
Floy develops AI-powered software designed to support 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 works with radiology practices to jointly offer patients AI as a “second read.”
