Vilnius-based Spike, a B2B data technology and AI startup, has announced the successful close of a €3.2 million oversubscribed seed round, co-led by Practica Capital and TheVentureCity, with participation from CEAS Investments, Plug & Play Ventures, Geek Ventures, and Axel Springer Porsche (APX). Spike provides healthcare and digital health businesses with AI solutions that are safe, efficient, and compliant, allowing them to offer hyper-personalized and preventative health products. This funding will be used to fuel Spike’s growth and product expansion, addressing challenges in integrating AI technology in healthcare, such as regulatory compliance, AI talent scarcity, and high costs. With its white-labeled SDKs and health data API aggregator platform, Spike supports a range of applications from fitness and nutrition to post-treatment follow-ups and early anomaly detection.
Spike focuses on providing data interpretation services for the digital health industry. Their platform integrates data from wearables and IoT devices, offering three main products: a single API for accessing data from over 200 sensors, a managed ETL tool for seamless data integration, and an AI-based SDK for health data interpretation. By enabling healthcare providers to better utilize biometric data such as heart rate variability, blood pressure, and glucose levels, Spike aims to enhance health recommendations and preventative measures. Founded 18 months ago, the company is led by Povilas Gudzius and Nikita Pajanok, supported by a team with diverse expertise in technology and data science.
Povilas Gudzius, Spike CEO and Co-founder, commented: “Advancements in retrieval-augmented generation AI mean that LLMs are no longer taking a ‘best guess,’ but are now able to seek out specialized context producing outputs that are much more accurate and considerably less prone to hallucinations. By incorporating this technology on top of Spike’s high-quality health data API, we’re enabling our clients to easily leverage these tools and improve the health of millions of end users.”
Donatas Keras, Partner at Practica Capital, said to EU-startups.com: “We were impressed by the Spike team’s technical expertise and go-to-market skills. Given their rapid traction and widespread adoption of AI products with formidable competitive moats, leading this round was a natural fit for us. As the influx of sensor data changes some parts of the health industry, Spike is well-positioned for significant growth, and we are excited to partner with such a forward-thinking team.”
Álvaro Sanz, Partner at TheVentureCity, added: “The fact that Spike was able to close an oversubscribed round and accumulate significant investor interest, particularly in this down market, is a validation of Spike’s potential.”
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