Aaron.ai receives €3.5 million for digital practice assistant of the future
Berlin, May 16th 2022 – Berlin-based Aaron.ai has successfully closed a €3.5 million financing round. Munich-based impact investor BonVenture, IBB Ventures from Berlin and Futury Capital's venture fund from Frankfurt participated in the round.
The AI health-tech company has developed the digital practice assistant "Aaron". It takes calls from patients when the practice team is unavailable and handles them automatically. Using artificial intelligence, the technology bridges the gap between the growing medical staff shortage and the aging society. As a solution that can be booked online in a few clicks, Aaron.ai addresses this staff shortage by making artificial intelligence easily accessible.
More than 2.000 physicians already use the AI-powered employee "Aaron" to automatically take calls, prioritize them and therefore relieve staff in the medical field. Recently, the AI employee also relieved Germany’s health offices by answering inquiries regarding Covid-19 in cooperation with the German Federal Ministry of Health and the Institute for Public Health at the Charité University in Berlin.
In addition to advancing the product, the capital will primarily be invested in employees: "If you want to work on a more sustainable healthcare system for the next decades, you've come to the right place," says co-founder Richard von Schaewen. "Many positions in sales, research & development and customer support are waiting to be filled with inspiring people who want to contribute to a better healthcare system for everyone”.
Paul Garte, Investment Manager at BonVenture, the first impact investor in Germany, emphasizes: "We are convinced that Aaron makes a very important contribution to better patient care - on the one hand by improving the accessibility of doctors and on the other hand by relieving medical staff."
Christian Seegers, Investment Director at IBB Ventures, explains, "Aaron.ai's smart telephone assistant improves doctor-patient communication, relieves the burden on medical staff and saves patients unnecessary waiting time in a telephone loop. We were immediately impressed by the product's scope of services and are convinced that Aaron, with its experienced team of founders, is ideally positioned to benefit from the ongoing digitalization in the healthcare market."
Benjamin Krahmer, Managing Director of Futury Capital, added: "We consider AI-based business models to be very attractive, as AI is increasingly finding its way into everyday life. Aaron has succeeded in developing a scalable solution that is already simplifying the lives of doctors and patients and making them more efficient. We look forward to working with the founding team as they continue to grow."
Aaron.ai provides an AI-powered practice assistant called Aaron that takes the burden off medical practices and helps patients handle their concerns via the phone 24/7. More than 2.000 physicians already use the technology daily to avoid missing calls and emergencies, quickly prioritizing inquiries and reducing the burden on the practice team. The AI health tech company was founded in 2015 by Tobias Wagenführer, Richard von Schaewen and Iwan Lappo-Danilewski and is based in Berlin.
BonVenture was founded in 2003 to provide social venture capital to companies that have a social or environmental business purpose and thus deliver a measurable social impact. As a partner to social entrepreneurs, BonVenture supports them with capital, know-how and a broad network, provides guidance in the establishment and growth of the organization and thus promotes the development and dissemination of innovative approaches in the social and ecological field. BonVenture was the first to adopt this approach in German-speaking countries, is the first officially registered manager for European Social Funds (EuSEF) in Europe, currently manages capital of around 83 million euros and has supported more than 50 social enterprises to date.
About Futury Capital
Futury Capital is an early-stage and growth investor focused on tech startups in Germany and globally. The investment universe covers multiple industries such as technology, software, consumer internet, artificial intelligence, fintech and more, helping companies accelerate their growth on their way to becoming global market leaders. Through its LP structure of the State of Hesse, family offices, German SMEs and multinational corporations, Futury Capital supports its portfolio companies both strategically and operationally in building them into exceptional companies.
About IBB Ventures
IBB Ventures has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early-stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services as well as for business concepts in the creative industries. Currently, two funds with a total volume of 122 million euros are in the investment phase. Both VC funds are financed by funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), administered by the State of Berlin. IBB Ventures has already invested in more than 260 Berlin-based creative and technology companies; in consortia with partners, the startups received more than €1.7 billion, of which IBB Ventures invested more than €250 million as lead, co-lead or co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft.