The Munich start-up Floy has successfully closed a seed financing round of 5.4 million euros. The financing round was led by HV Capital, with All Iron Ventures and existing investors such as 10x Founders, xdeck Ventures, SB21 and renowned business angels also participating. Floy, a medtech company specializing in artificial intelligence (AI), develops solutions to support radiologists in diagnosis and thus improve the detection of diseases.
Floy's technology is already being used by 170 radiology practices in Germany. It aims to support radiologists in analyzing CT and MR scans, a task that is of great importance given the more than 25 million scans performed in Germany every year.
Speaking to Radiologie-Magazin, Fly CEO Benedikt Schneider and CPO Leander Märkisch emphasized the benefits of AI technology for the early detection of diseases and the improvement of diagnostic quality. Dr. Laura Seifert of HV Capital emphasized that Floy is redefining the intersection of technology and healthcare and is of great benefit to both doctors and patients.
With the new funding, Floy plans to strengthen its market position in Germany, expand into the EU and the US and drive the development of new AI products. Schneider, who was inspired to found Floy by a personal experience with a knee injury, emphasized the goal of becoming the market standard and highlights the company's unique business model, which offers both medical and economic added value.
The current round brings the total funding since its foundation in summer 2021 to over 8.8 million euros.