January 5, 2024

Paris-based AI startup Nabla raises $24m Series B to boost US expansion

The company, which provides an AI assistant for doctors, wants to double down on its US operations

Paris-based startup Nabla, which provides doctors with an AI-powered tool that generates clinical notes from patient consultations, has raised a $24m Series B to continue expanding the company in the US.

The round, which brings total funding for the company to $43m, was led by global VC Cathay Innovation and included participation from French investor Zebox Ventures — which was founded by French billionaire and active tech investor Rodolphe Saadé. 

The company had previously raised €17m in 2021 from UK VC firstminute capital, as well as French billionaire Xavier Niel and Sweep CEO Rachel Delacour.  


An AI assistant for doctors

Nabla has built an AI assistant for doctors dubbed Nabla Copilot, which listens in to clinical consultations and drafts notes that summarise key elements of the interaction, ranging from patient medical history and symptoms, to doctor diagnosis and prescription. The company says that the technology is very precise, with only 5% of notes requiring adjustments.

The tool enables practitioners to save significant time on writing up notes from appointments for clinical documentation, which can add up to six hours to their workloads per week.  

The technology, which was developed by former Facebook AI Research engineer Alexandre Lebrun, is built on a type of AI model called a large language model (LLM) — the same approach that powers ChatGPT. The model generates human-like text from what it hears during the appointment, which it picks up using separate speech-to-text technology.

“Clinical documentation is only the beginning for Nabla,” says Lebrun. “Health systems are looking to leverage the AI opportunity to support their healthcare teams in many different aspects; we are getting ready to be there every step of the way."

Expanding to the US

The US is already a major market for Nabla, which recently signed a partnership with US healthcare provider Kaiser Permanente to roll out Copilot to 10k physicians across Northern California. 

The company is planning to use this latest cash injection to expand the technology across the entire country. 

Around 20k practitioners have adopted Copilot since it launched in March 2023, according to Nabla. The company says that 3m consultations in three different languages were carried out using the technology over the past year.

Daphné Leprince-Ringuet

Daphné Leprince-Ringuet is a reporter for Sifted based in Paris and covering French tech. You can find her on X and LinkedIn