Parol AI Secures EUR 1.2 Million Funding from GapMinder VC
Deal News | Dec 16, 2024 | Stratulat Albulescu
Stratulat Albulescu advised both Parol AI and GapMinder Fund II on a EUR 1.2 million funding round led by GapMinder VC. The law firm played a dual role, creating a Chinese wall to maintain confidentiality and managed to assist both Parol AI as the target and GapMinder as the lead investor. Parol AI, an innovative start-up, offers a unique AI-based platform that improves the efficiency of medical documentation by automating record creation in real-time. This investment aligns with GapMinder's strategic focus on AI solutions with global scalability. The round marks Parol's second funding effort, following a pre-seed round raised in August 2022, demonstrating strong investor confidence in its potential. GapMinder Fund II, launched this year by GapMinder Ventures, follows a successful Fund I, which catalyzed the growth of Romania's tech start-up ecosystem. The legal teams from SAA were led by Cristina Man (Parol) and Silviu Stratulat (GapMinder).
Sectors
- Artificial Intelligence
- Healthcare Technology
- Venture Capital
- Legal Services
Geography
- Romania – GapMinder has been instrumental in developing Romania's tech start-up ecosystem, and Parol AI is part of this geography.
Industry
- Artificial Intelligence – Parol AI uses an AI-based platform for medical documentation, positioning itself in the Artificial Intelligence domain.
- Healthcare Technology – Parol AI transforms medical documentation management, which is a significant aspect of Healthcare Technology.
- Venture Capital – GapMinder Fund II, a Venture Capital firm, led the investment round, demonstrating active involvement in funding AI start-ups.
- Legal Services – Stratulat Albulescu, the law firm, provided legal advisory services for the funding round, a key component of Legal Services.
Financials
- EUR 1.2 million – Total funding raised by Parol AI in this round
- EUR 1 million – Investment amount committed by GapMinder VC in the round
- EUR 500,000 – Pre-seed funding raised by Parol AI in August 2022
- EUR 50 million – Total size of GapMinder Fund I
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Parol AI | Target Company | Company | A start-up offering an AI-based platform that enhances medical documentation |
| GapMinder VC | Bidding Company | Company | A venture capital firm leading the EUR 1.2 million investment round in Parol AI |
| Stratulat Albulescu | Legal Advisor | Company | Law firm advising both Parol AI and GapMinder VC on the funding round |
| Cristina Man | Partner | Person | Led the legal team advising Parol AI |
| Silviu Stratulat | Managing Partner | Person | Led the legal team advising GapMinder VC |
| GapMinder Ventures | Parent Company | Company | Launched GapMinder Fund II following the success of its first fund |