Series A round, led by Canary and Indicator Capital with participation of Zentynel, marks one of the largest early-stage health sector fundings in Brazil
Axenya, a health tech company specializing in the intelligent orchestration of corporate healthcare, has announced a Series A funding round of US$12 million (approximately BRL 65 million), led by Canary, co-led by Indicator Capital, and joined by Zentynel. The investment will drive the company’s commercial expansion and advance its technology platform, with a focus on artificial intelligence, data interoperability, and connected biomarkers.
Unlike traditional brokers that merely mediate health plans, Axenya takes an integrated approach: it connects companies, employees, insurers, and healthcare professionals through advanced technological infrastructure and data intelligence. Its solution is built on two main pillars: LifeVault, an interoperable data lake that organizes clinical, operational, and administrative information; and Axenya IQ, a predictive engine powered by AI and GenAI, capable of anticipating risks, suggesting interventions, and optimizing care journeys.
For Mariano Garcia-Valiño, founder and CEO of Axenya, the company’s true differentiator lies in the combination of cutting-edge technology and a business model capable of structurally transforming the system. “In healthcare, having a great product isn’t enough—you need a business model that can reshape the system. That’s what sets Axenya apart.”
Among the results reported by clients are: medical inflation up to 50% below market average, loss ratios 1,500 basis points lower than the national average, a 22% reduction in total healthcare costs year-over-year, a 40% drop in expenses for high-risk patients, and a 50% lower cost per procedure or consultation—even with a 13% increase in the number of appointments during the same period.
Kristian Huber, General Partner at Canary, emphasizes that Axenya’s ability to deliver measurable impact was key to the investment: “Axenya impressed us with its innovative approach and proven results in reducing steep annual health plan cost increases for companies and their employees, while improving care for patients with critical conditions.”
Thomas Bittar, co-founder of the leading deep tech fund in Latin America, highlights: “We believe Axenya is building the technological infrastructure needed to revolutionize corporate health management in Brazil. Indicator’s role is to accelerate this transformation by integrating data, devices, and predictive intelligence—key elements to reshape population health in one of the country’s most challenging and underserved markets.”
Founded in 2020, Axenya had previously raised US$ 6.8 million in earlier rounds, with participation from Patria High Growth, Big_Bets, Zentynel, and others. The new funding will be primarily allocated to commercial expansion, consolidation of growth channels, and advancement of the technology roadmap.