AI startup Savana secured $11 Million Funding

Savana, a New York-based health tech startup accelerating health science with big data, has now secured $15 million in a Series B funding round.

Savana is founded by Jorge Tello and Dr. Ignacio Hernandez Medrano in the year 2014. It develops Artificial Intelligence solutions that provide doctors and pharmacists with insights into patients' healthcare by surfacing critical information within the free text of clinical notes. Its Software as a Service (SaaS) platform has more than 300 million Electronic Medical Records processed in German, Spanish, English, and French.

Savana's CEO Jorge Tello, said, "Savana's potential positive impact on society is massive. Our mission is to predict the occurrence of disease at the patient level. This focuses our resources on discovering new ways of providing medical knowledge almost in real time – which is more urgent than ever in the context of the pandemic. Healthcare challenges are increasingly global, and we know that the application of AI across health data at scale is essential to accelerate health science. Cathay Innovation's expertise in healthcare and track record in bridging continents for digital health technologies is remarkable, and we look forward to working with them to expand our global network".

Jacky Abitbol, Partner of Cathay Innovation, said, "Savana's transformative technologies and solutions bring such incredible value to the medical space, that they are bound for widespread and mainstream adoption across the world. Now more than ever, advancements in the digital health sector is of the utmost importance and a major focus for Cathay Innovation, demonstrated by several investments and our recently sealed partnership with Sanofi. With a global network of experts and partners across North America, Europe and Asia, we're looking forward to joining efforts with Savana's talented team to accelerate the company further on the global stage and emerge as a leader in the AI HealthTech market".

Cathay Innovation led the funding round. Other participating investors include Seaya Ventures as well as new investors such as MACSF.

The company, as of now, has plans to use the new funds to support its international expansion and operations in the US. Savana intends to add 20 to 30 people at its New York City headquarters, notes the announcement.