Swedish healthtech company Tandem Health has closed a $100m Series B funding round led by the Scaleup Europe Fund, a €5bn initiative backed by the European Commission. Joining the lead investor are returning backers Kinnevik, Northzone, Amino Collective, and Visionaries. The company has not revealed the valuation at which the round was priced.
This round follows a $50m Series A in 2025, bringing Tandem's cumulative funding to $160m. The Scaleup Europe Fund's backing of Tandem comes shortly after the fund invested in French AI company Mistral and Finnish satellite firm Iceye.
Tandem operates an LLM-powered AI assistant designed for healthcare professionals, automating the generation of clinical documentation during patient interactions. The platform serves 10,000 care organisations spread across 14 European countries.
The company's offering has grown beyond its original focus on medical note automation. It now functions as a broader clinical assistant, handling referral documentation and managing patient communications across the full care cycle—before, during, and after appointments.
Tandem ranks among Sweden's most prominent technology ventures, alongside Lovable and Legora. According to peer-reviewed studies, clinicians using the platform report a 29 per cent reduction in administrative time, a 30 per cent increase in job satisfaction, and a 30 per cent decrease in administrative burden.
The fresh capital will support geographic expansion within Europe and customer acquisition, while also enabling the company to evolve beyond its current medical assistant capabilities. Tandem plans to develop what it describes as "an AI-native clinic operating system" that would manage patient flow and support automated agents handling additional clinical functions.
Tandem employs approximately 170 people and concentrates its efforts on the European market. The UK represents its largest user base by volume, where the platform is deployed among NHS clinicians.
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.
Lukas Saari, CEO and co-founder of Tandem Health
The Scaleup Europe Fund was established to strengthen investment capacity in Europe's technology sector as the continent works to narrow the competitive gap with the United States and China. The European Commission serves as a founding investor, alongside institutional and corporate partners including Novo Holdings, CriteriaCaixa, and Santander. Tandem Health represents the fund's first investment in the healthtech sector.
Source: Tech.eu
