Ada Health lands €40m from Len Blavatnik, Amazon Alexa creator William Tunstall-Pedoe and Google business chief Philip Schindler’s June Fund
The company behind a healthcare app which can help diagnose symptoms has landed a multi-million pound round of funding from investors, who include a top Google executive, the man who created Amazon's Alexa voice assistant and one of Britain's richest billionaires.
London and Berlin based Ada Health has raised €40m (£35.2m) to grow the business and expand to the US.
The app, which launched in April in the UK, uses artificial intelligence to help users diagnose symptoms, drawing on a wealth of information drawn from clinicians after originally starting out as an app just aimed at doctors.
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Backers include June Fund, a Berlin-based tech fund founded by Google's chief business officer Philipp Schindler and Roman Rosslenbroich, the man behind German hedge fund Aquila Capital.
William Tunstall-Pedoe, the man who created Amazon's AI assistant Alexa and Len Blavatnik, the Russian-born billionaire who owns Warner Music Group and is the second richest man in Britain are also backing the firm, along with Cumberland VC, a new Berlin-based fund.
“The future of healthcare lies in a much more patient-centric model where individuals have actionable insights at their fingertips, and doctors and artificial intelligence work together to support patients throughout their healthcare journey,” said chief executive and co-founder Daniel Nathrath.
"This is just the beginning, and we’re excited to enable even more people around the world to effectively manage their health.”
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The cash will also go on further developing the app and it plans to hire more engineers, scientists and medical advisers.
“Ada is one of the most exciting companies we’ve seen cutting across health and artificial intelligence,” said vice chairman of Blavatnik's Access Industries Guillaume d’Hauteville.
“They’ve developed a unique and highly effective health management solution driven by a team with deep medical and AI expertise and years of technology development.