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Zensei opens €500,000 investment round to make the jump to Europe

The Madrid-based startup Zensei plans to secure funding later this year to accelerate the development of a data-driven virtual respiratory clinic and to reach France or Germany by 2021. Last April, the company, specialized in data, artificial intelligence, epidemiology and respiratory health, increased its staff and currently has eight workers.

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Zensei seeks to make the jump to Europe. The Madrid startup, which has developed a specialized application in preventive respiratory health, has opened a round of investment of $586,000 (€500,000), as explained by Zensei’s co-founder, David Martín-Corral. 

The company has already committed $152,600 (€130,000). Zensei will use the funds to accelerate the development of a data-driven virtual respiratory clinic. The company’s objective is to know and understand the environment in which the patient lives as much as possible in order to prevent respiratory problems, according to Martín-Corral. 

The application will take into account the patient’s situation, history, habits, where they live, pollution and biomarker information, among other data. The doctor will be able to alert the patient to the situations he or she will encounter in the near future in order to inform him or her and prevent him or her from facing adverse situations. The Zensei application is already available in Spain and Latin America, but in the next few months, it will be redesigned and will have the remote assistance service.

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Zensei has opened the investment round to accelerate the project

Zensei’s objective is to promote the development of the application to achieve sustainability in 2021. The company, encouraged by the movement in the health market due to the pandemic, plans to close the round this year and validate its business model in Spain to make the jump to Europe. 

The company, founded in 2017, seeks to enter France or Germany between 2021 and 2022. In these markets, a law was recently enacted that makes the “reimbursement of digital respiratory health” official. If a doctor recommends a payment application and it is validated by the government, the government would pay the patient, according to Martin-Corral. The company has to get its application validated with scientific articles. Zensei has committed $152,600 (€130,000) of the $586,000 (€500,000) investment round. 

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The funding raised comes from the co-founders and Q Partners, a start up investment vehicle. It is the second round of the company after another $58,600 (€50,000) round that they managed to close a year ago. 

Socios Q and the co-founders of Zensei have already financed the first $152,600 (€130,000) of the round

Martín-Corral is co-founder of Zensei together with Carlos Hernando. Both have been the only workers in the start up for more than two years in which they have focused on respiratory health from all points of view, from the patient, the doctor, pharmacists and also insurance companies. 

Hernando was the technical manager of Doctor24, one of the first video consultation platforms launched in Spain, while Martín-Corral was head of data and statistics-based health products at Sanitas. Both got together to start the project and consider that they are now in a privileged situation to promote the start up due to the situation caused by Covid-19. Between the two co-founders, they hold 80% of Zensei’s shares and, after the investment round, they will keep the majority of the capital. 

Last April the company, specialized in data, artificial intelligence, epidemiology and respiratory health, increased its staff and currently has eight workers. Some of Zensei’s clients are AXA Seguros, Savia, Publiespaña, the advertising subsidiary of Mediaset Spain and Philips. In addition, more than 50,000 users use the application.

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.