According the EU-StartUp the Tonic App, a digital health startup that makes the day-to-day of physicians simpler by aggregating all the resources they need in a single platform, has just closed a Series A investment round of €10.85 million.
With this capital, the startup aims to become the first medical platform with a presence in the five largest European healthcare markets: Spain, Italy, and France, where it already operates, followed by the UK and Germany, which the scaleup plans to enter over the next 24 months.The venture capital companies BlueCrow Capital and Iberis Capital co-led Tonic App’s third investment round. Its first investors, the Luxembourgish Vesalius Biocapital III, and the Portuguese Armilar Venture Partners and Portugal Ventures also participated. The Series A investment round was closed with the additional investment Shilling VC and the French strategic investor FSNB Health & Care.
The amount raised represents a critical growth driver for Tonic App, to consolidate its presence in the markets where it already operates, expand into new geographies, and amplify the team towards a fast, yet sustained business growth. The company will hire senior talent for its sales team and will further invest in operations. Célia Brás, former COO of Adclick, was recently hired as Chief-of-Staff. A substantial investment is also being made in research and development (R&D), focusing on generative artificial intelligence. The company was the first in Europe to launch a genAI-powered virtual assistant for physicians, already used by 25,900 medical doctors, and expects to certify it as a medical device until September. In Q2, Tonic App will launch Tonic Scribe, a tool that allows automated transcription and summarisation of clinical notes.
