The race is on to build a new generation of healthcare software to replace legacy hospital systems that in some cases may not have been updated in decades. A startup out of Munich, Germany called Avelios has ambitions to build a new kind of end-to-end administrative system, leaning into more modern tooling using AI and cloud services. On Thursday it announced €30 million ($31 million) in Series A funding as it gains momentum.
Sequoia is leading the round out of its London office, with investors from Avelios’ seed round also participating, including High-Tech Gründerfonds, Revent, and individual investors.
The startup is not disclosing valuation but the round is coming on the heels of Avelios having grown impressively — all on just €5 million of prior funding. To date, Avelios says it has signed up 12 customers, all in its home market of Germany, including one of the largest private hospital chains, Sana Kliniken AG; the hospital of the Ludwig-Maximilians-University in Munich, and the hospital of the Hannover Medical School.
“I think we’ve been quite efficient,” CEO Christian Albrecht told TechCrunch. “We have a really, good engineering team, and a team of 11 medical doctors here.”
Albrecht — who co-founded the company with CTO Nicolas Jakob and chief medical officer Sebastian Krammer — said in an interview that the plan is to use the funding to help continue developing its system and work on breaking into more markets. It’s in discussion with a hospital chain in Spain and says it’s also looking at France and the U.K.
Covid beginnings
Avelios is taking a ground-up approach to the world of healthcare systems, aiming at a market that has up to now largely been built around siloed implementations that serve specific purposes, and have …