Founded in 2022 in Vienna, Flinn.ai is a startup specializing in automating and optimizing compliance processes for medical device manufacturers. By leveraging artificial intelligence (AI), the company simplifies key regulatory workflows, allowing manufacturers to improve productivity while ensuring compliance with European regulations. Recently, the company raised €6 million in a seed round led by Cherry Ventures, bringing its total funding to €10 million over the past 18 months.
Automation and compliance in medtech
The medtech sector faces increasingly strict compliance requirements, especially with the Medical Device Regulation (MDR) in Europe. Companies need to perform thorough post-market surveillance while ensuring their products meet regulatory standards. Flinn.ai offers SaaS solutions that automate these processes. “Our mission is to help medical device manufacturers launch and operate high-quality products with greater efficiency while ensuring full compliance,” explains Bastian Krapinger-Rüther, co-founder and CEO of Flinn.ai.
Seed round to support growth and development
The €6 million seed round was led by Cherry Ventures, with the participation of existing investors Speedinvest and SquareOne Venture Capital. Business angels such as Matthias Weber, former president of Leica Biosystems, and Michael Reitermann, former CEO of Siemens Diagnostics, also took part. This funding will support the further development of Flinn.ai’s AI-driven modules for quality management and regulatory compliance, aimed at helping medtech manufacturers automate their compliance processes.
A focus on technology to improve efficiency and compliance
Flinn.ai has developed three key modules designed to assist medical device manufacturers:
- Automated safety database surveillance: A tool for automatic monitoring of safety databases, critical for identifying and reporting potential risks related to medical devices.
- Intelligent literature evaluation: A module that automatically evaluates scientific and regulatory literature to ensure compliance.
- AI-driven complaint data handling: A system that simplifies the processing and reporting of complaints.
These solutions help companies manage compliance more efficiently and improve the oversight of post-market surveillance processes.
Strategic development of AI-driven solutions
With this recent funding, Flinn.ai plans to enhance its current modules and continue its growth. “With the backing of Cherry Ventures and our other investors, we can advance our goal of making high-quality healthcare products more accessible,” adds Krapinger-Rüther.
