French artificial intelligence (AI) company Nabla has successfully raised $24 million in its Series B funding round, with Cathay Innovation leading the investment and participation from ZEBOX Ventures. The latest funding brings Nabla’s total capital to over $43 million and is earmarked for the expansion of its AI solutions within the US healthcare systems.

Funding Details and Valuation

TechCrunch, citing sources, reported that the Series B funding round valued Nabla at $180 million. Additionally, there is potential for the company to raise additional funds from US investors as part of the Series B round.

Nabla’s AI Copilot for Healthcare

Founded in 2018 and based in Paris, Nabla specializes in AI solutions for the healthcare industry. The company has developed an AI copilot or assistant designed to support healthcare professionals by generating notes, recognizing medical coding, and seamlessly integrating with electronic health records. This AI solution operates across mobile, desktop, and API platforms, streamlining clinical documentation processes and allowing clinicians to focus more on patient care.

Technological Capabilities

Nabla’s proprietary technologies include large language models (LLM) and speech-to-text capabilities, developed by engineers formerly associated with Facebook AI Research. These technologies contribute to the efficiency of Nabla’s AI assistant, saving clinicians valuable time.

Utilization of Funds

The funds raised in the Series B round will primarily be used to facilitate Nabla’s expansion within the US healthcare systems. The company also aims to enhance the intuitiveness and reliability of its AI assistant. Additionally, Nabla plans to broaden its capabilities to offer medical decision support and improve health equity by introducing additional language options for its copilot.

CEO’s Vision for Nabla’s Future

Nabla’s co-founder and CEO, Alex Lebrun, sees clinical documentation as just the beginning for the company. He envisions Nabla playing a vital role in supporting healthcare teams in various aspects through the application of AI. The company is committed to adapting to the evolving needs of health systems and practitioners, with a focus on a patient-centric approach.

Investor Perspective

Cathay Innovation managing partner Jacky Abitbol expressed confidence in Nabla’s exceptional team and technical expertise. He highlighted the company’s understanding of clinicians’ pain points and its ability to bring cutting-edge AI and LLM technologies to the healthcare industry. The global network and resources of Cathay Innovation are expected to contribute to Nabla’s further expansion and consolidation in the field of AI medical applications.

Nabla’s successful Series B funding round reflects the continued interest and investment in AI solutions for healthcare. With a strategic focus on the US market, Nabla aims to play a pivotal role in supporting healthcare professionals and enhancing the efficiency of clinical workflows. As the company advances its AI capabilities and expands its footprint, it positions itself as a key player in the evolution of healthcare through innovative technology.

By Admin

Leave a Reply

Your email address will not be published. Required fields are marked *