Germany-based health technology startup Caresyntax has reportedly secured USD 100 million during a Series C funding round. Considered as one of the largest funding rounds by a German health tech, the fresh funds were raised from PFM Health Sciences LP, Intel Capital, Optum Ventures, and Lauxera Capital Ventures.
Caresyntax was founded in 2013 and specializes in developing algorithms that analyze risk factors associated with surgeries. It can also identify steps that could lead to critical conditions in operating rooms using advanced camera technology, further improving the patient outcome.
Caresyntax uses the cameras to not only track the surgeon's movements but also offer them real-time information. They can also alert them regarding critical situations, such as drops in heart rate.
This tech is known to identify warning signs that surgeons fail to recognize using machine learning technology. It can also provide them with a checklist of procedures needed to follow to avoid human error.
The co-founder and CBO at Caresyntax Björn von Siemens stated that operating rooms are considered the most expensive part of the hospital system.
Caresyntax can also help hospitals on saving insurance premiums, such as reputational costs as well as litigation. von Siemens further claimed that that the innovative technology can allow surgeons to make better decisions in operating rooms, further allowing for improved patient outcomes.
The Germany-based startup has witnessed 250% growth since last year and has operations in Boston as well. The fresh funds are likely to be used to invest in go-to-market strategies as well as in expanding research & development resources.
It is worth noting that the health tech sector has been witnessing significant investments since the COVID-19 pandemic began, with AI solutions particularly seeing a strong increase in funding.
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