QuantHealth, which uses AI to develop clinical trial designs, has reeled in $15 million in series A funding it will use to further its expansion efforts.
The Tel Aviv-based startup is targeting the investment for commercial expansion, product development and broadening its platform beyond clinical trials and into areas like regulatory support, the company said in an Aug. 30 release.
The round was co-led by Bertelsmann Investments and Pitango HealthTech, which were joined by Shoni Top Ventures and Nina Capital. Previous investors include Boston Millennia Partners, Atooro Fund and Renegade Ventures, the company noted.
The latest influx of cash means that, to date, QuantHealth has brought in $20 million in external funding.
“We firmly believe that deep AI solutions like ours will dramatically enhance the success of clinical trials, and pave the way towards better and cheaper therapies for patients around the world,” Orr Inbar, the company’s co-founder and CEO, said in the release.
QuantHealth, which plans to expand into the U.S., recently named David Dornstreich as chief commercial officer and co-founder Arnon Horev as chief strategy and operations officer.