Lithuanian business-to-business data tech and AI startup Spike has successfully closed its oversubscribed $3.5 million seed funding to accelerate growth, develop new products, and incorporate generative AI into health and fitness applications.
According to the company’s announcement reported by EU-Startups on Tuesday, June 4, 2024, the seed funding round was spear-headed by Practica Capital and TheVentureCity, including a significant contribution from CEAS Investments, Geek Ventures, Plug & Play Ventures, and Axel Springer Porsche (APX).
Founded in 2022 with offices in California, United States, and Vilnius, Lithuania, the company seeks to transform digital health through its data pipeline management (ETL), health data API aggregation platform, and other AI-backed solutions.
With the growing need for health and healthcare businesses to incorporate AI into their operations to optimize their workflow and maximize efficiency, Spike aims to offer health tech solutions that digital health apps, hospitals, nutrition clinics, and science-backed fitness studios can quickly adopt.
The generative AI solutions will support the aggregation of wearable, medical, and IoT sensor data from hundreds of healthcare devices. This will also extend to lab testing, blood testing, genomics data, Electronic Health Records (EHR) data, and FDA-approved devices.
With its white-labeled SDKs, Spike offers easy-to-implement non-diagnostic Retrieval Augmented Generation (RAG) AI-powered software applications for healthcare providers and end users. It also provides a managed ETL solution and a consolidated REST API that helps developers solve issues. For example, developers can access 20 sensors in 24 hours and gain immediate access to them without an upfront cost.
The company’s AI-baked solutions include dietitian co-pilots capable of assessing meal nutrients from photos and personal trainer co-pilots featuring fitness tracking summaries based on wearable data. Spike also offers physician co-pilots for early detection of health anomalies based on lab tests and HER data and nurse co-pilots for effortless management of post-treatment follow-ups.
By leveraging new health data, the power of LLMs, computer vision, and other Machine Learning (ML) techniques, Spike API develops safe and regulatory-compliant generative AI to support digital health businesses.
The startup’s technology is already used by companies, including Seguros SURA, EMMA, Pulsetto, Longevo, FITTR, and Moody Month.