Jacob Neidhardt
December 13, 2024
Romanian medtech startup Parol has successfully raised €1.2 million in a seed funding round led by GapMinder Fund II, a venture capital firm dedicated to supporting AI, Deeptech, and SaaS startups in Southeast Europe (SEE).
About Parol
Founded in 2022 by Claudiu Pândaru, Alex Livadaru, Alex Tepeș, and Valentin Ichim, Parol provides an AI-powered platform that transforms medical documentation workflows by automating the transcription of doctor-patient conversations. The platform offers:
• Real-Time Transcription: Captures conversations in Romanian and English.
• Automatic Documentation: Generates comprehensive and accurate medical records in seconds.
• Efficiency for Clinicians: Saves up to 5 minutes per patient and reduces charting time by 30%, addressing clinician burnout by 70%.
Investment Details
The €1.2 million seed funding includes:
• €1 million contributed by GapMinder Fund II, which focuses on early-stage B2B startups with global scaling potential.
• Remaining contributions from previous investors, including The Mavers Ventures and Cleverage VC, who supported Parol’s €500,000 pre-seed funding in 2022.
This funding will be used to:
1. Enhance Parol’s AI models to improve transcription accuracy and efficiency.
2. Expand the platform’s reach in the healthcare industry.
3. Drive the development of new features tailored to clinicians’ needs.
Why GapMinder Invested
“Parol addresses a critical need in healthcare documentation with its combination of advanced technology and deep healthcare knowledge,” said Robert Herscovici, Investment Director at GapMinder. “Its ability to reduce manual administrative tasks while ensuring accuracy makes it a transformative solution for the industry.”
Looking Ahead
Parol’s innovation is set to redefine how medical documentation is managed, giving healthcare providers more time to focus on patient care. With its proven ability to save time and reduce fatigue, Parol is poised to become a leader in the medtech sector.
For more information, visit Parol’s website.
