Ukrainian medtech Mark raises $200k to build AI-based medical platform

Ukrainian medtech startup Mark has secured $200,000 of smart investments during its seed round, the company told AIN.Capital. The startup develops medical services operating through an AI-based platform.

  • At the time of the deal, the startup had already about $300,000 invested in it. This includes the founders’ own money and two angel investors.
  • Smart investments were the focus of the seed round, during which the startup raised $200,000. The investor and founder of the TOR-BA market chain, fintech company GEO Pay, and former adviser to the head of the Ministry of Digital Affairs, Maksym Demianiuk, participated in the round.
  • The team plans to spend the raised funds on product development in Ukraine, in particular, on accelerating the growth and expansion of its partner network. In the future, the company plans to enter two markets that the team considers promising: the USA and Scandinavia (Denmark, Norway, Sweden).

How did it start?

Mark is a Ukrainian startup that develops medical services running on an AI platform. Its founders are Andriy Petrukh, a medic, and Valeriy Yasakov, the winner of the Microsoft Imagine Cup international championship as part of the EnableTalk AI startup team.

Founders of the startup: Andriy (left) and Valeriy (right).
Images: Mark

The idea for the startup came to Andriy when he was undergoing medical practice and qualification confirmation in Toronto, in 2006-2012. There, he studied in depth the work principles of paramedics and emergency doctors and wanted to transfer the experience to Ukraine, so he decided to create an algorithm for interviewing patients. This is how the first version of the Mark Symptom Checker was created.

Valeriy came up with the idea of Mark because of a serious illness he got diagnosed with at the age of 22, and due to which he had to undergo six operations, including the removal of the colon. Since then, Valeriy has set the goal to develop a system that will allow better collection of information about the patient’s condition and early identification of complex conditions so that no one has to go through the similar experience.

How does it work?

The goal of the startup is to create a service that provides full medical support for users, and also organizes the network of clinics, laboratories, and insurance companies. How does it work?

It is a mobile application with a personal medical assistant that works on AI algorithms. Since April 2023, it has been working in test mode and is available on the AppStore and Google Play.

It is designed to help the users:

  • have medical support 24/7;
  • pre-diagnose the state of health with the Mark Symptom Checker tool, which has an international quality certificate ISO 13485:2016;
  • analyze key health factors: test results, well-being dynamics, medical history, data from health trackers, etc.;
  • study symptoms, fix “red flags,” and archive medical history;
  • search for medical laboratories and make appointments there;
  • quickly resolve all medical issues with clinics, laboratories, and insurance companies.

“Mark will not replace doctors, but, on the contrary, will help understand when it is worth contacting them. Its task is to raise red flags in alarming situations, help with the algorithm of actions and keep control of treatment and preventive measures,”

the team explains.