Paris-based healthcare startup Biolevate has raised €6 million in a seed funding round led by EQT Ventures, a Stockholm-based multi-stage VC firm known for backing companies like Onramper, Luko, Siilo, and AirKit. The funding aims to accelerate the development of Biolevate’s AI platform, ELISE, and expand its team to further medical innovation and support for researchers.
Founded in 2023 by Joel Belafa and Nathan Chen, Biolevate leverages artificial intelligence to enhance R&D processes in drug discovery, personalized medicine, and regulatory data management. Its platform, ELISE, utilizes natural language processing (NLP) and visual document reading to process unstructured healthcare data. The platform provides features like metadata extraction, collaborative document editing with version control, and seamless integration of internal and external research, enabling more efficient and regulatory-compliant workflows.
Biolevate targets three key industries with its AI-driven solutions:
- Pharmaceutical: Simplifies regulatory compliance, drug discovery, and clinical data management.
- MedTech: Supports product development and regulatory submissions while ensuring global compliance.
- Cosmetics: Enhances ingredient tracking, regulatory reporting, and product development for improved accuracy and efficiency.
EQT Ventures, which has a portfolio of 91 startups, commented on their investment, saying in a statement that “vertical software is having a renaissance.” They expressed excitement about backing companies like Biolevate that are seizing the “why now” moment in industries historically slow to adopt advanced software solutions. They also encouraged others building in the Vertical AI space to reach out.
The funding round also saw participation from notable industry figures, including Mehdi Ghissassi, head of product at DeepMind, and the co-founders of Zoi. Biolevate plans to use the fresh capital to scale ELISE’s capabilities, refine its features, and continue driving advancements in healthcare technology.
