AI-powered digital telemedicine pioneer Abi Global Health land €4.6 million Series A
Abi Global Health, a B2B2C provider of on-demand virtual healthcare services using a proprietary AI layer to accelerate, augment, and optimise delivery, announce a €4.6 million Series A investment round. The funding was led by Mundi Ventures and Uniqa Ventures.
Co-founders Kim-Fredrik Schneider and Dr. Victor Vicens, MD, PhD serve as Abi Global Health’s CEO and Chief Medical Officer, respectively; with Martin Tripiana, PhD heading the company’s Artificial Intelligence Lab.
Abi Global Health offers a suite of digital telemedicine services that easily integrates into existing insurance, pharma, and digital health products, including provider networks, e-prescription platforms, and claims management systems. Abi offers secure and confidential chat, voice, and video interactions, through which Abi’s network of healthcare professionals deliver a broad range of medical services across diverse areas of specialisation.
All Abi services include an AI layer that uses natural language processing and understanding (NLP/NLU) to parse and classify user health requests; then deploys matching, distribution, and optimisation algorithms to assign the best available healthcare professional. Abi’s generative AI further augments and personalises the professional healthcare services.
“The moment we started our conversations with Kim and Victor, we knew they were onto something,” says Bori Farkas-Fozy, Investment Manager at UNIQA Ventures. “The lean model they are operating, their ability to scale internationally in an extremely cost-efficient way, and the patient-focused approach they bring to their clients makes them very different from traditional telemedicine players. These are underlined by their strong tech stack that will continue to drive their growth during the coming period. We can’t wait to support and to see how they develop!”
Abi improves health outcomes by accelerating care and preventing unnecessary in-person medical intervention. Currently operating in 37 countries and 24 languages, Abi Global Health sees hyper-localisation as key to their offering. All services are available on-demand 24/7, every day of the year. Current clients include top-five global pharma and insurance organisations seeking to expand access to care while efficiently allocating health resources.
“Abi GlobalHealth empower our clients to transform healthcare delivery with cutting-edge technology that puts the customer in the centre of the healthcare experience,” says CEO Kim-Fredrik Schneider.“Our clients are driving healthcare change and innovation.”
Uniquely, Abi has no proprietary app, with all services available via commonly used chat apps, or embedded directly into client apps or websites. Users are connected with healthcare providers in seconds, without the need to schedule an appointment, and receive advice for self-care or professional intervention as appropriate. This ease of access translates to utilisation rates up to three times higher than traditional telemedicine.
“We’re excited to back the Abi Global Health team, who have built one of the smartest, leanest propositions to easily embed telemedicine in a very efficient way wherever is needed,” says Lluis Viñas, Investment Director at Mundi Ventures. “Abi is making the healthcare journey more efficient and effective. Its easy integration with common apps and other services makes healthcare more accessible, and the delivery of the care seamless wherever telemedicine is needed.”
This capital round will enable Abi Global Health to invest further in its unique approach to AI-human collaboration, enhancing Abi’s frictionless access to professional healthcare. Abi Global Health will also speed its expansion into additional markets to meet the needs of its local, regional and global clients.
Abi Global Health’s mission is to make professional healthcare as easy to access as advice from a friend, and is committed to the vision of the United Nations Sustainable Development Goal 3 (SDG-3) to “ensure healthy lives and promote well-being for all at all ages.”
Abi Global Health is an Irish company founded in 2016 by health technology entrepreneurs Kim-Fredrik Schneider and Dr. Victor Vicens. Its proprietary deep technology combines the power of AI, machine learning and real doctors to markedly improve the speed, effectiveness and quality of telehealth. Its mission is to make healthcare radically accessible for all.
Mundi Ventures is a global venture capital firm with nearly €500M in assets under management that invests in early and growth stage technology companies. Mundi Ventures and its team have backed more than 60 technology companies internationally, with the long-term goal of helping individuals, businesses and society manage an increasingly risky world through technology. Its current thematic funds focus on insurance-related technologies and new companies created by (and serving) the global Spanish-speaking diaspora. Mundi Ventures has invested in Wefox (Germany), Bolttech (Singapore), Betterfly (Chile), Job & Talent (Spain), and Shift (France), among others.
UNIQA Ventures is the venture capital arm of UNIQA Group, a leading European insurance company based in Austria. Since 2016, with €150M under management, UNIQA Ventures has built a portfolio of over 45 companies in fintech, insurtech, digital health and mobility and had several exits over the years. UNIQA Ventures has invested in several unicorns, along with soonicorns, and continues to search for the best firms shaping these industries at Series A stage and beyond.