Tandem Health, a Stockholm-based HealthTech startup building a complete AI medical assistant for European clinics, has raised €86.49 million ($100 million) in Series B funding,
The round was led by the Scaleup Europe Fund, managed by EQT, with support from existing investors Kinnevik, Northzone, Amino Collective, and Visionaries. In June 2025, the company announced a €42.6 million Series A funding round led by Kinnevik. With the new round, the Swedish company has raised a total of €138.38 million ($160 million).
Lukas Saari, CEO and co-founder of Tandem Health, said, “Europe’s health systems are under real strain and AI presents a real solution. But until now, European care providers have had to depend either on legacy solutions or AI solutions originally built for other markets that were retrofitted for Europe.
“We started Tandem to provide an alternative. Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s. This funding lets us do that, bringing healthcare safely into the AI era, working in tandem with patients, clinicians, systems and nations. That’s how we’re taking care of healthcare.”
Founded in 2023 by Oscar Boldt-Christmas (CCO), Oliver Åstrand (CTO), and Saari, Tandem Health is building the AI-native clinic operating system for European healthcare. Its AI medical assistant supports clinicians throughout the entire patient visit, from documentation to coding to clinical decision support.
According to the company, the current trajectory, with rising healthcare costs, clinician shortages, and an ageing population, is not sustainable. Tandem Health claims to be part of the solution and is building clinically safe, regulatory-grade AI that clinicians can trust.
The company states that it offers a complete AI medical assistant that supports clinicians before, during, and after patient visits. It prepares patient summaries ahead of appointments, provides clinical decision support during consultations, and automatically handles the subsequent documentation and coding.
It highlights that it is the only AI medical assistant with an AI scribe, coding assistant, and clinical decision support, each of which is independently certified as a Class IIa medical device under the EU Medical Device Regulation. It is also certified according to ISO 27001, ISO 13485, ISO 42001, C5 in Germany, ENS High in Spain, and HDS in France.
Earlier this year, in January, Tandem Health announced the acquisition of Dutch AI medical scribe Juvoly to scale clinician-first AI documentation across Europe.
The company, citing peer-reviewed research, reported that clinicians using Tandem witnessed a 29% reduction in time spent on admin, a 30% improvement in job satisfaction and a 30% reduction in administrative stress.
Nils Petter Nygaard, Managing Director at EQT and Scaleup Europe Fund, said, “Europe’s healthcare system is composed of a myriad of complexities, including fragmented regulatory regimes and highly varied care models. Tandem is one of the few healthcare technology companies to demonstrate it can scale in a pan-European way, already supporting more than 10,000 care organisations with AI that reduces administrative burden and frees up clinicians’ time for higher-impact work. We believe Tandem has the potential to become the foundational AI layer for European healthcare over the coming decades.”
The Scaleup Europe Fund, targeting €5 billion, was initiated by the European Commission and is managed by EQT. It brings together public and private capital to back ambitious European technology companies at scale, helping them grow while strengthening Europe’s technology ecosystem and competitiveness.
Tandem Health plans to use this capital to further accelerate its position as the AI partner of Europe’s leading care providers. It aims to continue doubling down across markets and to expand the clinician-led team, which already comprises 75+ in-house clinicians developing and delivering AI solutions.
It also intends to evolve from an AI medical assistant to an AI-native clinic operating system that also manages patient flows and enables agents that solve additional clinical tasks.
Since its inception, Tandem has established offices in 14 European markets and has been adopted by more than 10,000 care organisations. These include some of Europe’s largest care providers, such as Ramsay Santé, Humanitas, and the NHS.
