Bulgarian Eleven Ventures led €2M round for Greek-founded healthtech LANGaware
Greek-founded healthtech startup LANGaware has received €2 million in fresh funding to accelerate the company’s growth. The leading investor, Sofia-based Eleven Ventures announced it on its page. Greek investor Metavallon VC also joined the investment.
- Founded in 2019 as a spin-off from St George’s, University of London by Greek researcher Dr. Vassiliki Rentoumi, LANGaware’s technology analyzes language, voice, and speech through digital biomarkers. The solution can detect cognitive and mental impairment such as dementia, mild cognitive impairment, and depression, through an AI-powered voice processing.
- LANGaware claims it can analyze over 600 biomarkers in just a 2-minute speech recording, and shows a 80% accuracy in its early trials. The company’s clients are health systems, providers, and pharma firms.
- The fresh round was backed by Sofia-based fund Eleven Ventures, which supports tech companies from Southeast Europe. In May 2023, Eleven Ventures announced an investment of €1.2 million in four CEE startups: Perfeqt, MyTeam, True Insights, and FlatAway.
“We are thrilled to welcome Vassiliki Rentoumi and Virginia Korma to our family – the fearless duo behind LANGaware, revolutionizing cognitive and mental impairment diagnostics through AI-powered voice processing. The newest gem in our healthcare portfolio is positioned at the crossroads of artificial intelligence, neurological diseases, and early diagnostics,”the team of Eleven Ventures added.
- The fresh funding will be used to enhance LANGaware’s technology and product teams, as well as to expand its business development team and presence across virtual care platforms and health systems in the US.