Avelios Medical, a Germany-based provider of digital AI-powered healthcare information sharing software solutions for hospitals, raised €30 million in Series A funding.
Sequoia Capital, one of the leading investors that backed companies like Apple, Nvidia, Google, Airbnb, and WhatsApp, led the investment round with participation from existing investors Revent and HTGF.
According to the Avelios Medical website, they offer a software system called an end-to-end hospital information management system. It is intended to reduce medical errors and streamline medical compliance and documentation in real time. In the official press statement, Avelios Medical noted that preventable medication errors claim 65,000 lives each year in Germany alone – outpacing road traffic fatalities. The cause: outdated IT systems, which too often do not make data available at the right time in the right format. For the same reason, according to a study by Marburger Bund, doctors spend more than three hours a day on administrative tasks.
Avelios is already the core component of the digitization strategy of leading hospitals. Sana, one of Germany’s largest private hospital chains with 56 facilities, and renowned university hospitals such as the Hospital of the Ludwig-Maximilians-University Munich or the Hannover Medical School already rely on Avelios’ software and its integrated patient portal.
Christian Albrecht, co-founder of Avelios, said: “The digitization of patient care requires long-term thinking and sustainable innovation. With Sequoia, we can deliver exactly that – a system built to stand the test of time.”
Anas Biad, Partner at Sequoia Capital, said: Building a complete hospital information system, including documentation, admin, billing, patient portal and more, is not for the faint-hearted, yet this is precisely what Avelios has built. We were astounded by the depth and breadth of the product, as well as the feedback from their customers, which count some of the largest public and private hospitals in Germany. We are thrilled to partner with these exceptional founders and team as they deliver the modern operating system our healthcare deserves.”