The round was led by GapMinder VC, which invested one million euros. This marks the second funding round raised by Parol, following the pre-seed round of €500,000 secured in August 2022.

On this deal SAA had a double role and acted under a “Chinese Wall” set-up, acting for both the target (Parol) as well as the lead investor of the round (GapMinder Fund II).

On the target side, a SAA advised Parol on its €1.2 million funding round led by GapMinder VC, providing legal assistance throughout the entire funding process. On the investor side, a different SAA team advised GapMinder Fund II on due diligence, negotiating the transaction documents and completing the round.

This investment in Parol is part of GapMinder's strategy to support AI-based solutions that provide immediate added value and have the potential to scale globally.

Parol (https://parol.app/) start-up offers an AI-based platform that transforms the management of medical documentation. The solution automates the creation of medical records by transcribing in real-time the conversations between doctors and patients, significantly reducing the time doctors spend on bureaucracy. The service generates complete and accurate medical records in just a few seconds, allowing doctors to focus on patient care.

GapMinder Fund II was launched this year by GapMinder Ventures, following the success of GapMinder Fund I, a €50 million fund that significantly contributed to the development of Romania's tech startup ecosystem, supporting its transition out of the pioneering stage. Among the companies funded by GapMinder Fund I are Druid.AI, FintechOS, TypingDNA, Veridion, Siena.Cx, Cyscale, Deepstash, SmartDreamers, Machinations.io, Frisbo, and Innoship.io.

The SAA team advising Parol was led by Partner Cristina Man and also included Associate Cezara Mitea. The SAA team advising GapMinder was led by Managing Partner Silviu Stratulat and also included Senior Associate Amanda Csaki.

For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected].