Rivia receives Series A financing of 13 million euros

(CONNECT) Rivia has secured Series A financing in the amount of 13 million euros. The round was led by the Berlin-based venture capital firm Earlybird. Existing investors Speedinvest from Vienna, Amino Collective from Berlin and Nina Capital from Barcelona also participated.

As the IT company Rivia, which was founded in Zurich in 2022 and is based in Technopark Zurich, further announces via the EU Startups platform, it intends to use the fresh capital to accelerate its team growth, drive forward the scaling of its agentic data engine for clinical trials and expand its international presence, particularly in the US. Rivia was founded on the conviction that new drugs can be brought to market with a fraction of today's capital.

Recent advances in artificial intelligence enable large language models to support workflows and decisions - but only if data is standardized, structured and correctly coded. This is where Rivia comes in with its data engine of the same name.

"Clinical trials are among the most complex and costly workflows in healthcare, yet the infrastructure is still fragmented and manual," Christian Nagel from investor Earlybird is quoted as saying. "Rivia has developed an intelligent clinical trial platform that standardizes data and integrates compounds directly into key workflows. We are convinced that this approach has the potential to fundamentally improve the conduct of trials, reducing costs while increasing speed and data integrity."

Rivia speaks of possible cost savings of up to 50 percent. "This is our own problem that we are solving here," says Rivia CEO and co-founder Erik Scalfaro in a podcast. "We in the founding team are drug developers ourselves. This was therefore an urgent need and a great opportunity for us when we founded the company four years ago." ce/mm