The founders Benedikt Schneider (left) and Leander Märkisch

Floy: Sustainable use of AI for radiology

Munich-based startup Floy uses artificial intelligence (AI) to help radiologists detect difficult-to-see abnormalities. Founded in 2021, the startup already raised 1.3 million euros in pre-seed funding with German investors in its founding year and seed funding of 2.1 million euros with European investors in July 2022. An interview with the two founders Benedikt Schneider and Leander Märkisch.

Munich Startup: What does Floy do? What problem do you solve?

Benedikt Schneider, Co-founder and Managing Director Floy: We support radiologists in reliably detecting critical abnormalities. In a hurry, unexpected abnormalities in particular can quickly go undetected. Floy serves as an additional safeguard.

Munich Startup: But that’s nothing out of the box!

Leander Märkisch, co-founder Floy: Floy is not the only AI company in radiology. So far, however, only we have managed to make radiologists an attractive offer for sustainable AI use. This is reflected in our traction.

Sales processes are a challenge

Munich Startup: What is your founding story?

Benedikt Schneider: I myself had a meniscus tear that could not be adequately sutured due to a delayed radiological diagnosis and therefore tore again. At that time I asked myself why AI was not already being used here.

Munich Startup: What have been your biggest challenges so far?

Leander Märkisch: Thesales process to Germany’s largest radiology chains are a major challenge. Our product, concept and company have been examined and evaluated several times over a long period of time from all perspectives down to the last detail. We are glad that we have already won over Evidia and RH.

Floy: Global impact in sight

Munich Startup: How is business going?

Benedikt Schneider: We are celebrating the closing of our 100th German partner practice. This is a great success for us. In the meantime, we are already cautiously starting the acquisition of international partner practices.

In one year, we would like to be able to help almost 90 percent of all MRI and CT patients with our product in even more German practices and already the first international practices. In five years, we hope to slowly generate global impact.

Munich Startup: How have you experienced Munich as a startup location so far?

Leander Märkisch: Excellent! With the support of many investors, the great talent and the many medtech companies, we feel very comfortable!

Munich Startup: Quick exit or staying power?

Benedikt Schneider: Long breath. Impact is a marathon, not a sprint!