German HealthTech startup Recare closes €37 million funding round to scale AI platform and expand internationally
German HealthTech firm Recare has secured significant growth financing of up to €37 million, including a €7 million option, to propel the expansion of its AI-powered platform and its international presence. This substantial investment, led by DNV with participation from CIBC Innovation Banking, underscores the growing demand for innovative solutions addressing critical challenges within the healthcare sector. The funding aims to scale Recare's impact in improving hospital operations and patient care coordination through advanced workflow automation. Recare's AI agent is engineered to alleviate the administrative burden on healthcare professionals by automating routine tasks and streamlining complex workflows. Leveraging unstructured data, the platform connects disparate hospital IT systems, extracts and structures information from various sources, and facilitates interoperability to break down data silos. This approach is crucial in addressing Europe's projected shortage of doctors and nurses, a crisis estimated to reach one million by 2030 according to the European Commission. The implications of Recare's technology are far-reaching, directly impacting hospitals and care providers by enhancing productivity and freeing up medical staff to focus on patient care. This initiative aligns with the broader European objective of fostering digital sovereignty and developing advanced technological solutions within the continent. The capital infusion will accelerate Recare's market penetration across Germany and globally, supporting healthcare providers in optimizing their workforce capacity through intelligent automation.
Curated and translated by Europe Digital for our multilingual European audience.
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