HEALTHCARE BIG DATA STARTUP LYNXCARE RAISES 1.8M EUROS FOR EXPANSION IN EUROPE
LynxCare Founders: Dries Hens (l.) und Georges De Feu (r.). Picture Copyright LynxCare
Expansion possibilities At LynxCare, they are delighted to take this next step in their growth process. Georges De Feu, CEO of LynxCare says: “The excellent match with btov, the European expansion possibilities and the attractive offer have made us seize this opportunity quicker than we could expect.”
For LynxCare, this increase in capital also means a boost for their opportunities to continue expanding. “We have been active on the American market for a while and now this investment gives us the means to further conquer the European market. In under a year, we have raised almost 4 million euros and we have a very strong investor consortium, which offers prospects for further investments and new growth steps for LynxCare,” concludes De Feu. Belgian investment fund.
Among the existing investors is the Belgian investment fund HERAN Partners, for which Katleen Vandersmissen, Managing Partner, succeeds Annie Vereecken as a member of LynxCare’s board of directors. Annie Vereecken: “We are happy with the expansi on of the consortium and this new step in the growth of LynxCare. This clearly underlines our international ambitions. Furthermore, the transaction is in line with the strategy of the HERAN HealthTech Fund that was recently launched of which LynxCare is one of the 7 existing portfolio companies.”
Strong combination From the camp of the new investors, enthusiastic voices can be heard as well. Dr. Christian Schütz, partner at btov for healthcare: “We see a great combination of a highly experienced team in the field of machine learning/data mining(NLP) with a strong medical background, good commercial traction and a clear market need for quality of care data analytics and management. The very accurate analysis of unstructured data in the clinical environment is what LynxCare can offer for physicians, hospitals and medical research and what the company stands out for.”
LynxCare is a Belgian scale – up founded in 2015 by two partners with a medical background. As a pharmacist and doctor, Georges De Feu and Dries Hens both understand the needs of the sector. The co-founders have surrounded themselves with a unique team of both medical professionals and data scientists, which has made them the Belgian big data market leader in healthcare. LynxCare is a partner for hospitals in the efficient processing and making available of data for analysis via an AI-driven platform, with the objective of improving quality in healthcare. The LynxCare software, based on artificial intelligence (AI) and machine learning, makes value-based healthcare or result-oriented care possible. This provides numerous benefits for both the patient, the doctor and the entire medical system. LynxCare has 15 employees in their homebase in Leuven, Belgium and in 2017 they founded an office in the Belcham post in San Francisco.
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About btov Partners
btov Partners, founded in 2000, is a Europe an venture capital firm founded and funded by serial entrepreneurs and business angels focusing on industrial technologies and digital leaders of the European economy. The company manages assets of EUR 450 million and examines over 3,000 investment opportunities annually. The btov Industrial Technologies Team has backed companies ranging from component, module and systems hardware companies with embedded software to application and infrastructure software suppliers for industrial verticals. Its technology focus lies in robotics & autonomous vehicles, industrial machine learning, Industry 4.0 and Industrial IoT, cyber-physical security, electronics & photonics, additive manufacturing, power conversion and storage, medical and quantum technologies. Past investments include BigRep, Blacklane, Data Artisans, DeepL, Dyemansion, Effect Photonics, Electrochaea, Finanzcheck, ORCAM, Quanta, Raisin, SumUp, Volocopter and XING.
About HERAN Partners
HERAN Partners is a Belgian investment fund founded by Annie Vereecken together with Katleen Vandersmissen, Joris Mortelmans and Herman Verrelst. With the broad network and the unrivaled expertise of its partners, HERAN Partners supports European start-ups and scale-ups from the MedTech and Digital Health sectors. The first fund, HERAN HealthTechI, builds on the existing investment strategy of the founders: a strong and balanced portfolio of 7 companies that are within the fund’s focus.