Giotto sells its AI platform to RQM+ and raises funds in private equity round

After spinning off their all-in-one AI platform, Giotto Compliance, the Lausanne-based startup sold it to the medtech service provider RQM+. Giotto, formerly known as L2F, participated in the Venture Leaders Technology program in 2020.

Giotto Compliance, which was developed by the EPFL-spinoff Giotto (formerly known as L2F) is a global, all-in-one artificial intelligence (AI) platform that streamlines the workflow around clinical evaluation reports (CER), a vital part of the R&D of medical devices. It is designed to increase the efficiency and effectiveness of regulatory reports and filings across the product development lifecycle for medical devices and in-vitro diagnostics manufacturers.

Giotto partners with industry leaders to deliver outstanding cloud products where users collaborate with AI. Thanks to its proprietary platform and strong product management expertise, it facilitates the development of sophisticated, performant, and highly customized software products. Giotto.ai, previously known as L2F SA, counts more than 50 collaborators spread across Switzerland, Italy, and Romania.

RQM+ is the result of the merger of two industry leaders, R&Q and Maetrics, in 2020. The company became the largest medical device- and diagnostics-focused full-service regulatory and quality consulting firm in the world. The company has offices in the US, the UK, and Switzerland.

"We have only begun to scratch the surface of what can be achieved by integrating Giotto Compliance AI technology throughout our consulting, clinical trials, laboratory, and reimbursement services," said RQM+ CEO Margaret Keegan. "We are fortunate to have our Chief Digital and Technology Officer Alaric Jackson lead this new business unit. He will expand the capabilities of Giotto Compliance to enhance our current services as well as offer a standalone solution that can be leveraged to streamline regulatory document development while maintaining compliance with global regulations."
 

According to startupticker.ch, Giotto, which is led by founder and CEO Aldo Podestà (pictured), also raised an additional CHF 2.6 million in a new private equity round. The proceeds from the two transactions will finance the launch of new products leveraging Giotto's core technology.

Giotto took part in the Venture Leaders Technology investor roadshow in 2020. In 2021, the company raised CHF 3.7 million to develop its AI platform in a Series A2 funding round.