Pryv granted CHF 400’000 loan by FIT

The digital revolution has hit many domains today, some of which are still very sensitive in terms of security and privacy, such as in healthcare. This is why eHealth, which combines life science, medicine and IT technologies, needs more secure and efficient patient data management solutions. The revolution is on thanks to the EPFL startup Pryv.   

The startup based at EPFL Innovation Park developed a software with a novel data model and dynamic consent management that ensures the availability as well as the compliant usage of sensitive data. It enables health actors (such as pharma, hospitals or insurances) to deploy their own data management systems fast, and ensure that all applicable industry and data privacy regulations are respected. Other revolution: the digital solution of Pryv puts the patient at the center of the system, where he or she can manage his or her own personal data bank.

Standing for privacy, Pryv and its product Pryv.io should see the birth and the growth of interdisciplinary and cross-borders projects, where sensitive, health and personal data will be collected, stored and shared without confidentiality threats, with the control of patients. 

Today at a crucial phase of its development, Pryv has confirmed its commercial model introduced in 2015, validated and based on years of firsthand research, market analysis and product development, which started in 2012. The startup raised CHF 1.1 million in October 2017. The CHF 400'000 worth early loan from the FIT will help the young company grow steadily as well as secure treasury for the delivery of important orders in a field where sales cycles are rather long, before the next planned financing round in series A.

With this new loan, which adds up to the 195 other loans given to innovative projects since 1994, the FIT carries on its mission to support technologically advanced startups in western Switzerland. Other condition, the selected projects need to have a collaboration with a university or a School of higher education in western Switzerland. 

(Press release)