Waiv, a Paris-based medical testing startup spun out of biotech unicorn Owkin, has raised a $33m funding round co-led by OTB Ventures and Alpha Intelligence Capital.
Founded in 2016, Owkin is one of the buzziest startups in France, having raised more than $300m from investors such as Sanofi and Cathay innovation to fuel its AI-powered diagnostics and drug discovery platform.
The company’s diagnostics team Owkin Dx has now spun out as Waiv, a new startup led by Owkin alums Meriem Sefta and Lionel Guillou which uses AI to enable more precise testing and detection of cancer.
Building on the team’s work at Owkin, Waiv is working with pharmaceutical companies, research institutions and health providers around the world to develop and roll out its medical testing platform. Serene Data Ventures, Karista and SistaFund also participated in the round.
“Precision medicine only works when patients can be reliably matched to the therapies most likely to benefit them. This remains very complex to achieve,” said CEO Sefta. “Our goal is to make accurate AI-enabled precision testing the global standard.”
The company said it would use the latest round of funding to build up its portfolio of clinical tests, deepen its pharmaceutical partnerships and move into more international markets.
“Waiv is bringing a level of technological advancement and maturity that oncology has been waiting for,” said Karol Szubstarski, partner at OTB Ventures. “We are excited to partner with a world-class team and support Waiv as they set a new standard for how oncology is understood and treated.”
