Nabla, a French artificial intelligence (AI) company focused on the healthcare industry, has raised $24m (€21.8m) in its Series B funding round.
The investment was led by Cathay Innovation, with participation from ZEBOX Ventures.
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This latest funding increases Nabla’s total capital to over $43m and will be used to support the company’s expansion within the US healthcare systems.
Citing sources, TechCrunch reported that the funding round valued Nabla at $180m and it could also raise more money from US investors as part of Series B.
Set up in 2018, the Paris-based startup has developed an AI copilot or assistant, which aids doctors by generating notes, recognising medical coding, and integrating with electronic health records.
Nabla’s AI solution, which works across mobile, desktop, and API platforms, is designed to save clinicians time, allowing them to dedicate more attention to patients.
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By GlobalDataThe company’s proprietary technologies include large language models (LLM) and speech-to-text capabilities, developed by engineers formerly of Facebook AI Research.
Besides supporting Nabla’s growth across the US, the Series B funding will also be used for the development of its AI assistant to make it more intuitive and reliable.
Furthermore, the company aims to enhance its solutions’ capabiilities to medical decision support and improve health equity by introducing additional language options for its copilot.
Nabla co-founder and CEO Alex Lebrun said: “Clinical documentation is only the beginning for Nabla. Health systems are looking to leverage the AI opportunity to support their healthcare teams in many different aspects; we are getting ready to be there every step of the way.”
Cathay Innovation managing partner Jacky Abitbol said: “Nabla’s exceptional team understands clinicians’ pain points and has the deep, technical expertise needed to bring cutting-edge AI and LLM technologies to the healthcare industry and best support practitioners shifting back to a patient-centric approach.
“The company has demonstrated impressive early traction in both Europe and the US, and we look forward to putting our global network and resources to work to help Nabla expand further and solidify their position at the heart of new AI medical applications.”
