Fast, simple and precise: the AI-supported health assistant XUND will provide patients with reliable and trustworthy information about their health – conveniently via an app. The start-up is about to launch its iOS app and has now closed a funding round with a high six-figure amount led by Peak Pride, the family office of Austrian industrialist Hans-Peter Haselsteiner, and the Tyrolean Business Angels.
Focusing on the patient
Founded in 2018 by Tamás Petrovics, Lukas Seper and Dr. Zoltán Tarabo, the start-up already employs 12 people and operates from its headquarters in Vienna and its office in Budapest.
By developing a digital interface between patients and the healthcare system, XUND aims to improve the quality and accessibility of healthcare for everyone.
Similar to a doctor’s consultation, the user journey is designed to proactively address existing health issues and symptoms. Through the analysis of additional information such as age, gender, and medical history, potential correlations are detected and probable causes identified early on. Based on the personal health profile, XUND then suggests individual diagnosis and treatment pathways and connects the user with relevant health services. This could be the right doctor, the next open pharmacy or even a digital health solution.
With an in-house team of doctors specialized in different disciplines, XUND ensures that the medical content in the app is provided in a clear and comprehensible way. The ultimate goal is to empower users to make informed decisions on their own, reduce health risks and thus increase their quality of life.
Innovation through AI
All this is made possible by the proprietary Medical Engine, which will be provided as an API solution to insurances, public healthcare providers and other healthcare organizations later this year. In cooperation with the Technical University of Vienna led by Prof. Allan Hanbury, who is also co-founder of the Vienna-based start-up contextflow, the team of XUND developed the data mining tool DISCO (Disease Symptom Correlations Obtainment).
With the help of AI, the medical information underlying the app is extracted and classified from 1.5 million scientific publications. The medical team of XUND then reviews the data and enriches it with practical experience and additional qualitative research. The level of innovation becomes clear considering that without DISCO, a single physician would need more than 420 years to process this amount of data.
Data sovereignty for patients
Having incorporated Privacy by Design from the very beginning, users will no longer have to worry about their most sensitive health data being stored under insufficient circumstances. In so-called Health Tresors, data is stored and managed independently and detached from XUND using end-to-end encryption (E2EE), two-factor authentification (2FA) and other state-of-the-art security features. Beyond that, a Blockchain solution ensures that every single access to the personal Health Tresor is logged in a transparent and verifiable way. This means that the control over the data is always and exclusively in the user’s hands.
“We were particularly convinced by the strong founding team, which has shown great endurance and execution skills over the past few months. Within a very short time, XUND has developed a scalable product with a highly versatile technology stack, able to offer real added value for all stakeholders in the healthcare industry”, says Sebastian Wiener, Investment Manager of Peak Pride.
Medical device certification as next step
Before entering the market, XUND is to be certified as a medical device. By taking this step, the team wants to ensure that patient safety is fully guaranteed and the medical engine meets the highest quality standards and legal requirements. The launch of the iOS app, currently in the beta phase, is planned for May. XUND will initially focus on the German-speaking region for the market entry. „Soon we want to expand into other EU countries. Especially CEE is an attractive target market for us, where we believe we can have a significant impact on the quality of healthcare”, says Tamás Petrovics, Co-Founder and CEO of XUND
Founded in Vienna in 2018, the Healthtech start-up XUND is developing an AI-based health assistant designed improve the quality and accessibility of healthcare. The company already employs 12 people and operates from its headquarters in Vienna and its office in Budapest. The iOS app is currently in the beta phase and is expected to be launched as a medical device in May 2020.
About Haselsteiner Familien-Privatstiftung
Dr. Hans-Peter Haselsteiner, who turned a small Austrian construction company into a globally active corporation, STRABAG SE, is also engaged in numerous entrepreneurial activities (Westbahn, Remus, etc.) as well as in venture capital through the investment company of his private foundation. Led by Peak Pride, his HPH Start-up Unit supports start-ups with financial resources and, if required, with strategic and business management expertise. Since the beginning of 2019, the HPH Start-up Unit has been focusing strongly on investments in the PropTech and Digital Health sectors.
About Tyrolean Business Angels
Tyrolean Business Angel GmbH (TBA) was founded by the South Tyrolean entrepreneur Harald Oberrauch, owner of the Durst Group and Alupress AG. TBA primarily supports technology-oriented start-ups in the Alpine region. Following the initiative of TBA, the Tyrolean Business Angel network tba.network was founded in 2018. Its 22 members represent a wide range of industries and invest individually or jointly or serve as partners for pilot projects.