Deeptech company Callyope raises €2.2 million

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Joffe & Associés (Thomas Saltiel, Charlotte Viandaz and Rudy Diamant) is advising BPI France and 360 Capital on the fundraising of Callyope, a company offering solutions combining voice and AI for the detection of mental disorders and illnesses such as schizophrenia, bipolar disorders and severe depression.

In a world where one person in eight – some 970 million people – has a severe mental disorder, the issue of mental health is more important than ever. It was against this backdrop that Callyope managed to raise €2.2 million this summer from investors including 360 Capital, Bpifrance Investissement with the support of the Digital Venture Fund, No Label Ventures (an Anglo-Saxon venture capital fund set up this year by Ramzi Rafih, formerly of KKR), and business angels such as Thomas Clozel (Owkin) and Adrien Montfort (Sorare). This fund-raising enabled the company to reach a valuation of €6.55 million.

“Nearly 1% of the population suffers from schizophrenia and 2 to 3% from bipolar disorder. These illnesses are very often chronic, and almost half of patients hospitalised relapse within twelve months”, explains Martin Denais, co-director of Callyope.

 

Callyope is now working in collaboration with well-known hospitals to develop its solutions and expand its database. The company, which has positioned itself in the mental health market representing a cost of around €600 billion a year in the European Union according to the Court of Auditors, intends to test its software on several hundred patients from the beginning of next year to demonstrate its effectiveness. Designed for monitoring rather than diagnosis, the tool is intended to be marketed to Centres Médico-Psychologiques (CMP). The start-up currently has nine employees, and plans at least a year of R&D before reaching the stage of marketing its analysis solutions.