Savics Raises €78k Via BeAngels Luxembourg

The fundraising of the Belgian healthtech followed a startup pitching event organized in November 2022 by the Luxembourg branch of the business angels network.

Belgian HealthTech Savics has announced a fundraising of €78,000 from public and private investors, following the last BeAngels Luxembourg: Startup pitching event in November 2022.

The capital raised as a convertible loan was used to fill the startup’s working capital gap that emerged during the COVID period, and to strengthen its product model.

Launched in 2016, the societal impact firm is specialized in tuberculosis screening. Its DataToCare platform collects and processes data from laboratories and hospitals in Africa and Southeast Asia. The software is used in more than 15 countries.

Data are instantly transmitted to a central server, allowing authorities to have a global view of the prevalence of the disease in countries and regions, and adapt health policies accordingly.

Emerging stronger from Covid

“Our vision of a universal health care coverage is to become reality by 2040,” says Savics. “For that, health Ministries need quality operational, medical and personal data to better optimize and manage costs, supply and access to health care.”

To provide data to stakeholders, Savics plans to further develop its current applications to offer an all-in-one health ecosystem data capture software.

“We were able to emerge stronger from the crisis, thanks in part to the fundraising following the last startup pitch event organized by BeAngels Luxembourg,” Savics continued.

Launched in 2000, BeAngels is a Belgian network of business angels (460 members, €66.7 million invested in 426 startups). Its members support and invest in innovative companies in different sectors of activity.

In 2021, the organization opened its Luxembourg chapter. In January 2022, it launched a new investment group consisting of 20 Luxembourg-based members who will each invest €15,000 in three Belgian and/or Luxembourg projects over one year.

Every month BeAngels organizes an Investment Forum. In November 2022, the Luxembourg branch held its first monthly session at Edmond de Rothschild’s offices at Cloche d’Or. Savics was among the five startups to pitch that evening.

“This monthly forum is a perfect opportunity to build relationships and show the interest of investors for Luxembourg startups and vice versa,” explains Elodie Trojanowski, the recently appointed new chapter leader of BeAngels network in Luxembourg.

The branch has already gained 50 new local members. It aims to hit 100 members by 2023. “With the launch of a new investment group in January 2022 and the digitalization of our networking services, we hope to become a more active participant in the local ecosystem and wish to offer local startups more possibilities of additional financing,” says Trojanowski who is also CEO and co-founder of Luxfactory Group, an economic advisor and innovation partner for startups, SMEs, and big companies.

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