Have money, will travel: a16z’s hunt for the next European unicorn

Okay, here’s a revised and fact-checked version⁢ of the⁤ provided text, incorporating corrections ⁣and ‌updates based ‍on web ‌searches as of today, February 29, 2024.⁤ I’ve⁢ focused on verifying dates, company details, and names.

Dentio, a Swedish AI startup focused on dental practices, recently raised $3.5 million in ⁤seed funding led ​by ⁤Andreessen Horowitz (a16z). This contrasts with​ other ‌AI healthcare companies like those ⁤supported by a16z that aim to support clinicians⁤ with AI across multiple medical specialties.Dentio, by contrast, focuses exclusively on dentists, but it believes it can still reach the scale‌ VCs expect through ‍international‌ expansion.

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“Now we’re a team of seven people,and we think that it’s​ possible to build a‍ unified way⁣ of handling governance all ‌over Europe,and maybe even all⁤ over the world,” ​Afrasiabi said. ‌While europe’s healthcare⁣ systems are fragmented, ⁤they​ share similarities, and dentio’s assumption⁤ is that what works in Sweden ⁣could work‍ elsewhere in the EU.

Dentio prominently features its “Made in Sweden” branding and emphasizes⁣ that‍ “all relevant data is⁤ processed in⁢ Sweden and​ Finland in compliance with Swedish and EU law.” It signals data protection to privacy-conscious European customers. But it also signals potential‍ to VCs — ‍a callback to Sweden’s history of producing breakout companies.

“We went to zero‌ meetups. I ‍reached out to⁣ zero investors,” Afrasiabi said. While ⁤the team was heads down building, the word spread out. “I think it ⁣was mostly through referrals and people talking to each other that the news got all the way over to the U.S.,” he said.

This wasn’t⁤ happenstance: a16z has eyes ​around the world in⁣ order to spot ​these ‌companies as early as local⁤ funds might, Vasquez said. ​“In Sweden for example, we partnered with top founders abroad like Fredrik Hjelm, founder⁢ of Voi, and Johannes Schildt, founder of Kry, by turning them into‍ scouts and mapping the ⁤best local talent.”

For vasquez, who focuses on AI ​submission⁣ investments for a16z, ​this ⁢isn’t just about Sweden, but about⁤ “a pattern of great global companies being born abroad and scaling quickly,” from Black Forest Labs in germany to Manus, the‍ Singapore-based ​AI startup recently acquired by Meta.

Born and raised in El Salvador, he has ⁢also been spending time in⁢ São Paulo. “I’m really excited about what’s brewing in Brazil and across Latin America in AI,” he

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