Mediktor Secures $3.5M Series A Funding to Advance AI-Powered Pre-Diagnostic Platform

On October 15, 2018, VCBeat (WeChat ID: VCbeat) learned that digital health startup Mediktor had completed a $3.5 million Series A financing round. The round was led by Alta Life Sciences, with participation from Castel Capital, Naos, and several other individual investors. Previously, Mediktor closed a venture funding round in 2016 with participation from StartUp Health; other details of that financing were not disclosed.

Mediktor Team (Image from the official website)）

John Pakutka, Managing Director in the United States, stated at Health 2.0: “Per capita healthcare spending in the U.S. is 30% to 70% higher than in other countries around the world; nevertheless, there has been no significant improvement in healthcare quality or public health.” Mediktor has currently established a branch in New York, and this round of financing will be used to further expand its operations in the U.S. market.

Mediktor has pioneered the first AI-driven, scientifically validated health screening system that provides real-time pre-diagnosis, triage, and decision support services to patients, enabling users to perform self-diagnoses online or via a mobile app. By integrating artificial intelligence, natural language processing, and patient data, the system identifies symptoms, offers potential conditions and recommendations, and can even connect users with healthcare professionals within insurance networks. Mediktor’s diagnostic tools have conducted over 2 million symptom assessments across more than 200 countries, achieving diagnostic accuracy comparable to that of physicians with over 40 years of experience. Data published in December 2017 in the scientific journal *Emergencias* showed that among more than 1,000 emergency department patients evaluated using the Mediktor platform, the confirmation rate reached 91.3%. On average, every 100 uses of Mediktor prevent 4.5 unnecessary emergency department visits. Currently, Mediktor records 4,000 monthly downloads, with its most popular applications being “Mediktor – Symptom Checker” and “Mediktor – Chatbot.”

Mediktor’s diagnostic tools rely primarily on three core technologies: artificial intelligence, natural language processing, and machine learning. Currently, it stands as the most advanced and precise expert system supporting pre-diagnosis, triage, and clinical decision-making, reducing the time from initial assessment to confirmed diagnosis to just five minutes. Mediktor’s technology helps lower barriers to healthcare access: patients can make better-informed decisions based on their initial symptoms, while healthcare systems can streamline demand and optimize resources to deliver improved services.

Josep Carbo, Head of Global Business Development at Mediktor, stated at last month’s Health 2.0 sponsored event: “In fact, what we aim to do is provide users with optimal care on demand in specific situations. To achieve this, we need to assess their symptoms online and, based on the assessment results and the healthcare system and telemedicine standards agreed upon with our clients, advise patients on the next steps.”

Currently, many pre-diagnostic tools fail to safeguard individuals' health data. Although HIPAA protects certain categories of information, such as patients' account numbers, passwords, and other personal identifiers, it does not cover symptoms entered online by patients or personal images transmitted via the internet. Consequently, patients' health data is often stored and subsequently sold to advertisers. Mediktor's pre-diagnostic tool protects patients' personal information. Its white-labeled AI symptom checker securely stores patient data, ensuring that if users opt for telemedicine consultations or diagnoses, their health data is not shared with anyone other than clinicians.

Mediktor's main competitors include:

Buoy Health, a company focused on online diagnosis and treatment, was founded in Massachusetts, USA, in 2014. It completed a $6.7 million Series A financing round in August 2017, bringing its total funding to $9 million. Buoy leverages AI technology to perform real-time analysis and decision-making based on symptoms. The company has currently established partnerships with Boston Children's Hospital and CVS MinuteClinic.

Digital healthcare provider Babylon, founded in London, UK, in 2013, secured a $47 million Series B funding round in April 2017, bringing its total financing to $57 million. Babylon combines AI technology with medical expertise to deliver comprehensive healthcare services to patients, including personalized health assessments, treatment recommendations, and 24/7 doctor appointment services.

Mediktor, founded in 2011 and headquartered in Barcelona, Spain, with a branch office in New York, is dedicated to leveraging AI technology to develop the most advanced and precise pre-diagnostic tools, significantly reducing barriers to healthcare access worldwide.