Swedish company secures $100 million to scale AI across European healthcare

Stockholm-based healthtech company Tandem Health has raised $100 million in a Series B funding round led by the Scaleup Europe Fund, which is managed by EQT. Existing backers including Kinnevik, Northzone, Amino Collective, and Visionaries also contributed, bringing the company's total funding to $160 million. Tandem develops an AI medical assistant designed for clinicians to handle patient summaries, clinical decision support, documentation, and coding.

The company offers the only AI medical assistant featuring an AI scribe, coding assistant, and clinical decision support that are each independently certified as Class IIa medical devices under the EU Medical Device Regulation. Peer-reviewed research indicates that clinicians using the technology experience a 29 percent reduction in administrative time, a 30 percent improvement in job satisfaction, and a 30 percent decrease in administrative stress. Founded three years ago, Tandem operates in 14 European markets and serves over 10,000 care organizations, including major providers like the NHS, Ramsay Santé, and Humanitas.

Tandem will use the new capital to expand adoption across Europe, grow its team of over 75 inhouse clinicians, and evolve its product from an AI medical assistant into an AI-native Clinic Operating System capable of managing patient flows and additional clinical tasks. This expansion comes as European health systems face severe staffing shortages, an aging population, and rising healthcare costs, with the World Health Organization estimating a shortfall of millions of healthcare workers in the coming years.