Brandl Talos has advised Austrian health technology start-up Contextflow on the second closing of its EUR 6.7 million Series A financing round.
The Series A first closed in June (as reported by CEE Legal Matters on June 23, 2021).
In the course of the second closing Peak Pride joined as a new investor, while existing investor Apex Ventures raised fresh capital through its “Apex Best in Class” fund.
Founded in 2016 as a spinoff of the Medical University of Vienna, Contextflow develops deep learning-based software to improve radiology workflows. Its core technology detects disease patterns in 3D medical images like CTs and MRs. The technology is utilized by radiologists on lung CTs, including on those related to COVID-19.
According to Brandl Talos, “the investment will be used for market entry in Europe and the US, obtaining FDA clearance, as well as extending the company’s offerings to include new products and features.”
The Brandl Talos team consisted of Partner Markus Arzt, Associate Elena Ciresa, and Trainee Christina Bernhart.
The firm did not respond to our inquiry on the matter.