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Tonic App Raises €10.85M in Series A

Tonic App, a digital health startup, has successfully concluded its Series A investment round
March 27, 2024

Introducing a game-changer in the realm of digital health, Tonic App announces the successful closure of its Series A funding round, securing a substantial €10.85 million investment. Founded in 2016, Tonic App addresses the pervasive issue of fragmented tools and knowledge essential for physicians' daily practice, encompassing patient diagnosis, treatment, administrative duties, and personal tasks.

At the heart of Tonic App's solution is its comprehensive 360º platform, integrating a myriad of resources including clinical decision support tools, educational content, video consultation capabilities, and job opportunities. Notably, Tonic App stands as the pioneering force behind Europe's first genAI-powered virtual assistant for physicians, serving over 25,900 medical professionals and slated for medical device certification by September.

Exciting developments are on the horizon, with the imminent launch of Tonic Scribe in Q2—an innovative tool designed for automated transcription and summarization of clinical notes. Currently, over 140,000 doctors in Portugal, Spain, Italy, and France leverage the platform, with esteemed clients including AbbVie, MSD, Roche, AstraZeneca, and Medtronic, alongside medical recruitment firms.

The Series A round was co-led by BlueCrow Capital and Iberis Capital, with participation from notable investors including Vesalius Biocapital III, Armilar Venture Partners, Shilling VC, and FSNB Health & Care. This substantial investment injection not only propels Tonic App's expansion into new territories but also fuels the recruitment of top-tier talent and further advancements in artificial intelligence.

Reflecting on this milestone, Daniela Seixas, medical doctor and CEO of Tonic App, underscores the strategic advantage gained through this significant round of funding, poised to capitalize on opportunities across Europe's largest healthcare markets. Similarly, António Mello Campello, co-founder of BlueCrow Capital, emphasizes Tonic App's alignment with the burgeoning intersection of technology and AI, positioning the company as a pivotal player in the pursuit of human advancement.

With a vision set on transformative growth and continued innovation, Tonic App charts a promising trajectory, leveraging this substantial investment to reshape the landscape of digital health and empower healthcare professionals worldwide.

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