Sierra Ventures: Our Early-Stage Investment in Eden
An innovative approach to medical diagnostics is set to transform the healthcare landscape in Latin America.
We led a $10M funding round in Eden, a Mexico City-based health tech startup leveraging AI to enhance diagnostics and democratize healthcare across Latin America. Eden is trying to redefine medical imaging, starting with radiology in the LATAM market. They have developed advanced diagnostic tools with integrated patient workflow to help radiologists, clinics, and hospitals become more efficient and effective. The long-term vision is to become the global Medical Imaging OS, starting with LATAM.
We have been impressed by the depth of their technology, even compared to the leading options available in the US. The rapid adoption by healthcare professionals is quite staggering despite the early stage of the company; Eden is already used by 75% of radiologists in Mexico and positively impacts over 6 million patients annually. We are proud to partner with other leading investors, including Kaszek, Alt Capital, Y-Combinator, and Khosla Ventures, to support Eden's mission.
The founders, Julián Ríos and Raymundo González, were inspired to start Eden after Julián's personal experience with his mother’s battle against breast cancer, which exposed significant shortcomings in the health system in Latin America due to outdated technology and the lack of qualified medical professionals.. Motivated to improve patient care, they assembled a team and built Eden to deliver exceptional diagnostics through cutting-edge software.
Our investment thesis is anchored around four major pillars:
- An acute shortage of radiologists in LATAM and developing countries has created a significant opportunity for Eden to improve their productivity and the utilization of expensive scanning equipment.
- On-premise, outdated software from incumbents (Siemens, Philips, GE) is over 10 times the cost per exam compared with Eden. It is also very difficult to integrate new AI into old imaging software and workflows.
- LATAM and developing countries are not encumbered by the challenges of the US healthcare system. The early signs of rapid adoption and short sales cycles are good indicators of the demand for Eden’s solution.
- And finally, there is a significant market opportunity through adjacent offerings to current solutions. Eden plans to release Lab System and there are 4x more lab exams than imaging studies in LATAM and most of the core functionality is already developed.
We look forward to partnering with Julián, Raymundo, and the entire Eden team to support their vision of transforming healthcare in Latin America.
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