Start-ups from CEE and Southern Europe have already attracted external investments of more than €20 M in 2021

17 EIT Health-supported start-ups from seven European countries (in InnoStars and EIT RIS regions) have successfully grabbed the attention of investors this year.

Start-ups from the CEE and Southern Europe closed a prosperous year in terms of fundraising.The start-ups reporting funding of over one million euros until the end of November 2021 include:

• Hungary/United Kingdom – TurbineAI (€5.7 M)
• Portugal – Peekmed (€3 M)
• Portugal/ United Kingdom – Abtrace (€2,4 M)
• Portugal – Criam (€9M)
• Italy – PatchAI (€1,7 M) 
• Italy – Allelica (€1,75 M) 
• Latvia – Longenesis (€1,2 M) 

 “Seeing our supported companies getting invested is proof that EIT Health is supporting the right companies, the game changers of European healthcare. It highlights the importance of keeping pushing the ecosystem in Southern and Central Eastern Europe, supporting companies in all stages of development and that more and more investors should pay attention to what is happening in our countries. stated Ines Matias, EIT Health InnoStars Business Creation Lead.

A successful start-up journey

EIT Health has been supporting PatchAI since 2019, through bootcamps and training in the InnoStars Awards as well as the EIT Health Catapult 2020. As Alessandro, the CEO of PatchAI admits, it definitely helped his team to close a € 1.7 million round through the EIT Health Investor Network as well as scale internationally and partnership with Roche. The app created from this partnership called “Roche Smart Health Companion” that helps onco-hematological patients in Italy is now available on AppStore and Google Play. The company, now part of the US-based Alira Health, will continue to advance its technologies to offer scalable and modular solutions for decentralised clinical research and virtual standard care.

Congratulation to all 17 start-ups for securing their funds and their work towards a more prosperous European Healthcare. To keep up with EIT Health programmes available for talents from CEE and Southern Europe subscribe to our newsletter here.