GapMinder invests €1 million in Parol, a Romanian startup that automates medical documentation

This investment in Parol is part of GapMinder's strategy to support AI-powered solutions that offer immediate added value and potential to scale globally.

Parol is a startup founded in 2022 by journalists Claudiu Pândaru (CEO) and Alex Livadaru (COO), along with Alex Tepeș (CTO), a software solutions developer, and Valentin Ichim (Sales Manager), a specialist with over ten years of sales experience.

Parol offers a platform based on Artificial Intelligence that transforms the way medical documentation is managed. Thus, the solution automates the generation of medical records through real-time transcription of conversations between doctor and patient, significantly reducing the time doctors spend with bureaucracy. The service generates complete and accurate medical records in seconds, allowing doctors to focus on patient care.

Parol's technology is built on Artificial Intelligence models that have been developed to accurately understand and transcribe complex medical conversations, integrating into existing clinical workflows. This enables a smooth transition to automating the documentation process without major disruptions to current medical work. Parol thus becomes a key player in the medical technology landscape, with the potential to redefine the way physicians manage documentation.

This is the second funding round attracted by Parol after the August 2022 round when it raised a €500,000 pre-seed round led by The Mavers Ventures, Cleverage VC, but also with the participation of three angel investors, all former UiPath team members Marius Istrate, Ana Cinca and Mălina Platon.

"Parol stands at the intersection of innovation and the pressing need for efficiency in healthcare. Our AI solution streamlines healthcare professionals' workflows by generating real-time medical records from conversations between doctors and patients. This technology empowers doctors to focus on what truly matters: patient care," said Claudiu Pândaru, co-founder and CEO of Parol.

"In the context of the accelerating evolution among startups using generative Artificial Intelligence, Parol is an excellent example of a company using AI to address real needs in the healthcare market. This unique combination of advanced technology and deep healthcare knowledge positions Parol as a leader in the rapidly evolving healthcare technology landscape. Parol not only reduces the time doctors spend documenting, but it does so in an efficient and accurate way that convinced us to invest," stated Robert Herscovici, Investment Director at GapMinder Ventures 

The GapMinder Fund II was launched this year by GapMinder Ventures, after the previous GapMinder Fund I, a €50 million fund, contributed significantly to the development of the Romanian tech startup environment, supporting the exit from the pioneering stage of the ecosystem. Among the companies funded by GapMinder Fund I are Druid.AI, FintechOS, TypingDNA, Veridion, Siena.Cx, Cyscale, Deepstash, SmartDreamers, Machinations.io, Frisbo and Innoship.io.