Austrian-American Ketryx, which develops AI-powered compliance software for the life sciences industry, has raised $39 million in a Series B round, bringing its total funding to more than $55 million.
- Launched in 2023 by Erez Kaminski, Ketryx develops an AI-native compliance platform for regulated industries, primarily in life sciences.
- The platform automates documentation, traceability, and validation workflows that are traditionally manual and time-consuming, allowing teams to generate real-time evidence as they develop software.
- By integrating directly with existing development tools and processes, Ketryx enables companies to release AI-powered medical products faster while maintaining adherence to regulatory standards such as FDA and IEC 62304 requirements.
Details of the deal
- The $39 million Series B funding round was led by Transformation Capital, an American venture capital and growth equity firm focused on healthcare and life sciences.
- The fresh capital also saw participation from its existing investors, including Lightspeed Venture Partners, MIT’s E14 Fund, Ubiquity Ventures, and Chicago early-stage VC firm 53 Stations.
“Ketryx has built the infrastructure that allows both to advance together. Their ability to deliver this level of rigor at true enterprise scale is why I’m proud to support them as they shape the future of regulated products," claims Bill Hawkins, former CEO of Medtronic and new Ketryx investor.
- Ketryx plans to utilize the funding to accelerate the development of its AI-powered compliance platform, aiming to streamline and automate regulatory processes in life sciences.
- The company intends to expand its global presence, enhance its product offerings, and scale operations to meet the growing demand for efficient and compliant AI solutions in regulated industries
