Kvika Asset Management
Assembly Line
PLAIO raises €4.3 million to expand its AI planning platform for pharma industry
PLAIO, an Iceland-founded AI-assisted decision support platform for the pharmaceutical industry, has raised €4.3 million in an oversubscribed round. The round was led by Iðunn, a venture capital fund managed by Kvika Asset Management, with continued support from existing investors Frumtak Ventures and Dr. Agon.
PLAIO will use the funding to implement strategic enhancements to the platform’s ‘AI Coplanner’ offering, as well as strengthen and develop both new and existing partnerships to solidify its position as a market leader in AI pharma planning solutions.
The funding, which follows a €2.7 million million pre-Series A round in 2021 and €400k injection from the Icelandic Technical Development Fund in 2023, will be used to scale operations within the U.S. and Europe.