Austrian medtech startup Flinn receives €1.8M in a pre-seed round
20 December, 2022, 15:32
Vienna-based medical device compliance startup Flinn has received €1.8 million in a pre-seed round to automate work processes in medtech and the pharmaceutical industry. The round was co-led by Speedinvest and SquareOne.
- Launched in 2022 by ex-employees from German neobank N26 Bastian Krapinger-Ruther, Markus Muller, and Hasib Samad Flinn develops a SaaS platform that simplify quality management for regulatory matters through automation for a variety of repetitive form filling workflows. It will help to reduce complexity and cost incurred by the new EU’s compliance framework Medical Device Regulation.
- According to Flinn, its initial product will focus on AI-enabled data collection, evaluation and reporting. To date, the startup plans to follow up with further software tools to create a “modular and integration friendly” medical compliance platform.
“We are here to stay and won’t leave this industry before we haven’t enabled the major share of medical device manufacturers to automate large parts of today’s manual tasks and build high-quality product significantly more efficient,”co-founders of Flinn comment.
- The fresh round was co-led by Austrian Speedinvest, one of the Europe’s most active seed investors, that recently raised €500 million to invest in early-stage tech startups, and Berlin-headquartered VC firm that invests in early-stage B2B software companies focusing on deeptech, SaaS, security, IoT.
- More than 10 unnamed business angels also participated in the round.
- Flinn is planning to use the fresh funding to digitize and bring automation to paper compliance trails linked to a recent EU rule change.