Semalytix receives two million euros

The new investor in the AI start-up is NRW.Bank.

Bielefeld-based start-up Semalytix raises another two million euros in its extended Series A financing round. The money comes from NRW.Bank. Already at the end of 2020 Semalytix got 4.3 million euros from btov Partners, Fly Ventures and some business angels.

Semalytix has developed the platform "Pharos" for the systematic research of patient needs. The startup's goal is to gather treatment experiences and side effects to make medications safer. "Artificial intelligence is becoming increasingly important not only in the healthcare market," says Michael Stölting, member of NRW.Bank's Management Board. "With Semalytix, pharmaceutical companies are able to derive insights from global patient experiences with medicines. This offers great potential in the current situation - just think of the testing of new vaccines."

Semalytix was founded in 2015, now employs 60 people from 24 countries. Its AI-based software can read and understand text. It collects voices from patient forums, social media and other online sources on everyday experiences with medicines and structures the resulting data to make it useful for the pharmaceutical industry. The results serve as a basis for the further development of drugs and treatment methods. One of the larger customers is the pharmaceutical company Boehringer Ingelheim.