TLDR:
- Tonic App, a digital health startup based in Porto, Portugal, raised €10.85 million in Series A funding.
- The funding round was co-led by BlueCrow Capital and Iberis Capital, with participation from other investors.
Tonic App, a digital health startup based in Porto, Portugal, recently announced that they have secured €10.85 million in Series A funding. The round was co-led by BlueCrow Capital and Iberis Capital, with additional participation from Vesalius Biocapital III, Armilar Venture Partners, Portugal Ventures, Shilling VC, and FSNB Health & Care. The company, led by CEO Daniela Seixas, aims to use the funds to expand their operations and business reach across Europe.
The core offering of Tonic App is a mobile platform and AI-powered virtual assistant designed to streamline the workflow of medical doctors by aggregating all the resources they need for diagnosing and treating patients. Currently, over 140,000 medical doctors are using the app, and in the upcoming quarter of 2024, Tonic App plans to launch Tonic Scribe, a Generative AI system that enables automated transcription and summarization of clinical notes.
While Tonic App currently operates in Portugal, Spain, Italy, and France, they have ambitions to expand into the UK and Germany within the next two years. This funding round signifies a significant milestone for the company as they continue to innovate and grow within the digital health sector.
