Riga-based 4pm Ventures launched a laboratory for health startups Future Health Lab

Latvian 4pm Ventures has launched a laboratory for startups Future Health Lab, which will run online from 12 June to 18 December.

To date, the lab has selected 21 startups for the first module. 12-15 startups will participate in the program for free. Other participants will have to pay a €25K fee or provide 1% equity in exchange for free participation in the program. The lab is accepting applications until 20 June. 

After the program program ends in December, the startups will continue to receive support from the lab. Additionally, the startups will be able to raise investment from the partners of the accelerator. The amount of funding will range from €50K to €500K. 

The participants are teams from European countries, including the Baltic countries, and also startups from Israel, and the USA that are focused on the European market. The lab is looking for startups in the following industries: digital therapy, personal medical assistants, devices, rehab tech, diagnostic solutions, men’s health/femtech, age tech, and others.

During the program, the startups will get acquainted with the network of health tech investors, will be able to complete their MVP and run their pilot, and will receive grants and discounts from the partners.

The partners of Future Health Lab include the European Institute of Innovation and Technology Health, New-York-based investment management firm Atem Capital, the Latvian business angel network (LatBAN), the Investment and Development Agency of LIAA (Latvia), several Latvian clinics, and others. EIT Health covers 25% of the costs in the laboratory, and the rest financing comes from 4pm Ventures. 

Founded by Yuri Fedotkin, Aleksejs Kornevs (also CEO), and Vladislav Lurye under the name Expanse Capital, 4PM Ventures initially was a boutique startup accelerator for health tech startups in the Baltic region. In 2024, the company transformed its business model into a venture builder and changed its name to 4PM Ventures.

The participants of the batch:

ProDigiPet (Germany) - is a smart collar, that allows the owner to track the state of his pet’s well-being, and detect its sleeping habits, heart rate, and temperature.

Flyser (Poland) -  is a machine and digital therapeutic game for children with ADHD (attention deficit hyperactivity disorder)

Sintez (Latvia) - is a producer of digestible allergen-free hemp protein and products, made of its basis.

Bodyscope (Estonia) - converts MRI and CT scans into 3D representations of individual patients' anatomy. They can be used as a learning tool for medical students and professionals.

Nowi (Spain) - developed a system to notify relatives, doctors, and emergency services about the home environment of elderly people, including emergency events such as falls, a fire, and gas leaks in the house, and notifications about human health problems such as a heart attack or a stroke.

Hyge AI (Latvia) - post-stroke rehabilitation online.

Gameblyo (Poland) - is a game application to improve vision. 

ArtEco.ai (Serbia) - is an AI-powered solution that helps customers get rid of stress. It can act as a coach, psychologist, or friend.

BabyRAIN (Poland) - is an AI-powered platform that helps diagnose autism spectrum disorder in children at an early age and track the child's habilitation results.

Bdetect (Latvia) - is a non-invasive melanoma detection device that uses multispectral data combined with AI.

Biobetter (Poland) - is a virtual wellness assistant, which provides users with health plans and recommends health tests.

Heartery (Denmark) - is an application to manage blood pressure.

Kamina (Spain) - is an online psychology platform that helps find and choose the right specialist.

Med.me (Israel) - is a cloud platform that connects patients, doctors, clinics, medical organizations, health insurance, and pharmaceutical companies.

New Stream (Israel) - body detection solution for mobile phone camera. The system measures all body motions and presents the result of any movements in inches, angles, and seconds.

Nutripy (Netherlands)- is an AI assistant for nutritional assessment. It is a dashboard with a full view of the client’s health status and nutritional needs.

SoftMedico (Latvia) - is an AI-based solution for healthcare, enhancing documentation and efficiency in small to medium-sized practices

UniExo (US) provides an exoskeleton as a rehabilitation service for people, who need physical rehabilitation due to accidents, neurological diseases, and different traumas.

WLLNSS (Poland) - is a digital clinic for remote workers and digital nomads.

xAID (Spain) - is an AI solution that provides radiological medical services, from diagnosing pathologies in medical images to personalizing treatment plans and monitoring adherence to medical prescriptions, etc.

Yuri LUX (Luxemburg) - develops fully automated micro-labs the size of a wallet and launches them on behalf of scientists around the world to the International Space Station (ISS), on orbital and suborbital spacecraft, on parabolic flights, and on drop towers.