Home Breaking News Italian startup PatchAi raises USD 2.06 Million in funding round

Italian startup PatchAi raises USD 2.06 Million in funding round

PatchAi, Padua, Italy – based startup has raised a round of 2.06 Million USD conducted by UV Cap and SFEM Italia. The investment was from Heathware Ventures. According to the sources, their goal with the fresh funds will go towards scaling up the business. PatchAi has an advanced and empathetic virtual companion which utilises artificial intelligence to personalise the dialogue with clients and assimilate conversational client reported outcomes.

Investors:  PatchAi (digital health startup) has lifted up USD 2.06 Million funds in the funding round led by SFEM Italia and UV Cap accompanied by a follow-on investment from Healthcare Ventures. This is also the third round finalised by the organization paced in Silicon Valley by Plug and Play, for an amount lifted USD 3.108 million since the inaugurated date. 


What the funding is for: The funds raised would be used to develop its clinical research services globally. The financing would allow PatchAi to broaden its reach to other therapeutic areas and scale internationally.

Founders: Alessandro Monteresso, Daniel Farro, Kumara Prasad Palanivel, Filip Ivancic.

Legal name of the company: PatchAi srl

Other names: Patch, Mosaic Software, AI-Patch, Patch.ai

Primary Objective: The association’s main aim is to flourish solutions dedicated to safer, affordable and faster medical services for the beneficial aspect of patients’ lives.  

About the company: PatchAi is a privately held organization based on information and technology services. The company was founded on August 29, 2018 and has a work strength of 11-50 employees. Its headquarters is located in Milan, Lombardia. PatchAi converts real world studies and late phase by virtue of focus on client centricity and forefront digital technologies. The organization is a cognitive stage where involving an embedding empathetic virtual assistant for client obligation and real time conversational data allocation. 

What the CEO has to say: “We experienced a threefold growth this year and now the team consists of ‘25 superstars’ . We plan to grow at the same rate in 2021. This success would not have been possible without the hands on effort of the team that is committed daily to turning our vision into reality. We want everyone to feel actively and directly involved and cooperatively responsible for our growth” said Alessandro Monteresso, CEO and CO-Founder of PatchAi.     

“We are also deeply grateful to our customers who have trusted us and allowed us to show the value of PatchAi to partners, consultants and investors who have contributed significantly to the achievement of our milestones. The 2021 challenges are just the starting point for next challenges”. said Daniel Farro , Co-Founder of PatchAi.

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