Saventic Health Secures 2.1 Million USD from Polish and U.S. VC Funds

– WARSAW, December 10, 2024 – AI algorithms developed by Saventic Health have helped diagnose over 200 individuals with rare diseases in the past year. The company already offers its solutions to global pharmaceutical companies and clinics across three continents. The new bridge funding of 2.1 million USD, secured from 4growth VC in co-investment with Poland’s NCBR Investment Fund and the U.S.-based TNI Fund, will be used to support further expansion in Europe, South America, and Canada.

To date, Saventic Health has developed 50 AI algorithms capable of identifying the most common rare diseases. The company collaborates with global pharmaceutical companies and is currently running projects with 11 of the 30 largest players in the industry.

The startup also partners with over 30 clinics and hospitals in Poland, Germany, France, and Brazil. In Canada, Saventic Health works with an operator managing several hospitals and medical centers connected via a centralized electronic health record system.

„Our international presence confirms that our algorithms are effective and well-received by our clients and partners. The healthcare, biotechnology, and innovation sectors are currently building a completely new market from scratch, fueled by the AI revolution. Our startup culture and highly skilled team enable us to be one of the key players in this field,” said Szymon Piątkowski, co-founder and CEO of Saventic Health.

„We are now focusing on entering the Austrian, Swedish, Spanish, and Italian markets, leveraging the fact that our algorithms are registered as medical devices across the European Union. We are also expanding our presence in South America, where our solutions are similarly certified as medical products. In addition to Brazil, where we already have ongoing projects, we are beginning operations in Colombia, Peru, and other digitally advanced countries in the region,” Piątkowski added.

„Our plan for next year includes further geographic diversification and revenue growth, which is already significant. We also plan to launch a much larger Series A funding round, reflecting our potential, market position, and valuation. Once this is achieved, our next target will be the United States,” Piątkowski announced.

Joining Saventic Health’s investors is the U.S.-based TNI Fund, part of the Kluz Ventures group, headquartered in Washington, D.C. TNI Fund invests in transformative technologies at the venture and growth stages, focusing on AI and data-driven healthcare solutions.

„Our fund focuses on breakthrough technologies in healthcare and their practical applications to solve global problems. Saventic Health provides innovative patient diagnostic solutions, which we believe represent the future of healthcare,” said Artur Kluz, General Partner at TNI Fund.

Additionally, 4growth VC, which first invested 10 million PLN (2.2 million USD) in Saventic Health in 2022 in co-investment with NCBR Investment Fund, has increased its stake.

„The inclusion of a U.S. fund among its investors confirms Saventic Health’s global potential. The company is already active on three continents and has global agreements with the largest pharmaceutical players. Thanks to fully digitalized processes, Saventic Health can execute projects for its clients and assist in diagnosing patients wherever needed, enabling dynamic international growth,” said Tomasz Biłous, Managing Partner at 4growth VC.

„We are pleased to witness the company’s dynamic development, which reassures us about the quality of this investment. Saventic Health’s current expansion and the ambitious plans of its founders have convinced us to increase our capital commitment. This highlights the importance of public-private capital collaboration, which jointly provides innovative Polish companies with greater opportunities to build global potential,” said Ksenia Wójcik-Karasiewicz, CEO of NCBR Investment Fund.

Rare diseases affect 450 million people worldwide. It is estimated that approximately 8,000 such conditions exist, of which only about 800 are well-understood and described. Traditional diagnostic methods, relying solely on doctors’ expertise or costly clinical trials, have an efficiency rate of just 2-4%, with proper diagnosis often taking 7-12 years.

Saventic Health’s solutions achieve this much faster and more effectively. AI algorithms, built on comprehensive medical knowledge of specific conditions, analyze patients’ medical records in detail and provide doctors with suggestions for further action. The efficiency of this approach is significantly higher than existing methods, and the process is faster and more cost-effective.

Saventic Health was founded by Szymon Piątkowski and Professor Grzegorz Basak. The company began operations in 2019 and raised 10 million PLN in 2022 from 4growth VC in co-investment with NCBR Investment Fund. The nearly 40-member Saventic Health team consists primarily of doctors, data engineering and data science specialists.