AI health tech company raises $3.1 million

Medicus AI GmbH, a Dubai-based technology company that uses AI to make health data more understandable, has raised about $3.1 million in a Series A funding round, according to information available on Crunchbase.

The Medicus AI platform helps explain and interpret medical reports and health data into meaningful insights. The funding will be used to help expand the company globally and develop a diagnostic lab and insurance markets across core markets and in new languages, according to a press release. The company’s AI platform currently supports the Arabic, German, French and English languages and will add Italian, Chinese, Portuguese and Spanish in 2019.

“Medicus is working towards transforming the healthcare sector, simplifying the relations between healthcare providers and patients and leading to better health outcomes,” Medicus AI Founder and CEO Baher al Hakim, DO, said in a statement. “Our growing global knowledge and partnerships will help us achieve these outcomes."

The funding round was led by German company Die Bruckenkopfe, Atieh Capital and Biopart. Medicus AI has now raised nearly $5 million total following two previous funding rounds that brought in about $1.8 million.

Last year was a record year for global venture capital (VC) funding in digital health, with more than $9.5 billion raised in 698 deals for 2018. This year could also be off to a quick start for digital health tools. Last month, Day Zero Diagnostics announced it raised $8.6 million in a Series A funding round to further develop a system that uses genome sequencing and machine learning to better diagnose infectious diseases.