LynxCare secures largest capital round ever in digital health in Belgium

Our portfolio company LynxCare, a Belgian AI-powered clinical data platform has received €20 million in funding to accelerate the international rollout of its technology. The Series A round was led by Swiss healthtech investor MTIP and backed by Elaia and, besides Matterwave Ventures, our co-investors Heran Partners, and PMV.

Hospitals generate an enormous amount of data. This data can be used to improve patient care and accelerate scientific research. However, an estimated 90% of this data is not used, as it is locked away in scattered and unstructured data sources. LynxCare enables hospitals to unlock their vast amounts of siloed, legacy data using AI and NLP, to gain insights into the Real-World performance of treatments and fuel clinical insights for doctors and researchers to improve patient outcomes. Launched in 2015 by Georges De Feu (Pharm D.) and Dries Hens (M.D.), LynxCare’s clinical data platform is accelerating research at the leading Health Systems across Europe and North America.

Unlocking previously unavailable insights for scientific research

The investment round follows major breakthroughs for LynxCare. In 2021, the company announced its collaboration EHDEN, the program supported by the European Commission to promote access to health data for scientific research. Together with EHDEN, LynxCare supports the ethical use of data based on an open source data model, allowing research within a strict ethical framework and without privacy violation. In this context, LynxCare announced several research collaborations with Life Sciences companies i.e. AstraZeneca, Johnson & Johnson, Pfizer.

Matterwave Ventures had already invested in LynxCare together with Heran Partners in 2020, contributing to the expansion of data-driven patient care and scientific research. By raising now €20 million– the largest capital round ever in digital health in Belgium – the company can accelerate the international rollout of its platform.

Strategic partnership to boost internationalization

Coincidentally with this financing round, LynxCare is forming a strategic partnership with PSIH. The French market-leader in clinical business intelligence will enable the roll-out of the LynxCare platform within their client base of over a thousand hospitals. “Our partnership with LynxCare will accelerate setup of hospital clinical data warehouses providing unmatched data for medical research, quality of care, patients pathway monitoring, and analytics to improve treatments”, says Jean-Baptiste Angeloglou, General Director of PSIH group. “PSIH group will bring its deep expertise on structured data treatment and business intelligence, combined with LynxCare’s state of the art capabilities to structure electronic medical records with innovative NLP algorithms.”

We would like to congratulate the whole LynxCare Team on achieving this great milestone!