Professional Documents
Culture Documents
with Topology
2
1
L2F in a nutshell
Summary
Data Analysis
EUR 400k of ARR CHF 3.2 Mio
Series A round in 2019
EUR 1 Mio+ potential ARR
with current sales pipeline CHF 1.6 Mio research grants
3
1
L2F in a nutshell
SaaS product
Giotto Compliance
4 1. https://www.swiss-medtech.ch/sites/default/files/2020-08/MTE_EN_2018.pdf
1
L2F in a nutshell
Research
5
1
L2F in a nutshell
The value of our technology
Interpretability
Detailed understanding and
explanation of model behaviour
and performance.
Performance
Giotto-TDA
2
Powerful feature engineering
and visualisation techniques.
Robustness
Increased reliability on
unseen data.
6 2. https://github.com/giotto-ai/giotto-tda
Giotto
Compliance
2
Giotto Compliance
Medical Device Regulation
01
In May 2021, the new European
regulations on medical devices
(EUMDR) will take effect.
02
The most impactful changes
are on Clinical Evaluation and
Post Market Surveillance.
8
2
Giotto Compliance
How does Giotto Compliance fit into the systematic review process?
9
2
Giotto Compliance
Value
Automation
Through the use of state-of-the-art and custom Natural
Language Processing technologies, Giotto unlocks the
power of automation for screening, extraction and analysis of
records. This enables users to save time and focus their
expertise on other critical tasks.
Digitalisation
Giotto offers a user-friendly interface to produce, centralise
and update documents, plans and reports following the
latest standards for compliance processes. Notified
bodies will directly access and review applications through
Giotto Compliance interface.
10
2
Giotto Compliance
How much can you save using Giotto Compliance?
1/2
% of the CER preparation associated with the literature search and review:
40%
50%
11
2
Giotto Compliance
How much can you save using Giotto Compliance?
2/2
Return on Investment
In a scenario of performing
#30 CERs per year for class III devices
12
2
Giotto Compliance
Past milestones
S1 2019
Second release
S1 2021
Support for analysis and
enhanced team features
Self-customization for
new customers
2 Automated data analysis
and report generation
3 Collaborative team
S1 2022
Support for the entire
EUMDR compliance process
Direct access to Notified
Bodies for review
features
14
2
Giotto Compliance
Subscription Model
Class I 400€/Year
Class II 750€/Year
Unlimited users
15
2
Giotto Compliance
Market analysis – EUMDR compliance
1/2
"Postmarket surveillance needs to be brought into a continuous "AI’s ability to process large volumes of data with speed and
evaluation and improvement cycle that links to continuous reviews of accuracy can potentially transform regulatory compliance.
risk management information, as well as to a regular update of a public Eventually, the continued use of AI in regulatory compliance
summary of clinical evaluations, safety, and performance. The new can eliminate the need for humans in the process altogether. "
regulations require plans for postmarket surveillance, reports, safety
update reports, systems for management of serious incidents and, trend Forbes – Why regulatory compliance can be complicated and how AI can simplify it
reports."
MedDeviceOnline – Key changes to understand the new European MDR and IVDR
16
2
Giotto Compliance
Market analysis – EUMDR compliance
2/2
“Recent incidents, including the breast implant crisis and the hip replacements, have
now prompted urgent regulatory and compliance reforms to the industry. Among the
27K companies in Europe
most significant of these are the European Commission’s 2012 proposals for
regulation on medical devices (EU MDR) and in-vitro diagnostics (EU IVDR). With the
95% SMEs formal publication of guidance imminent, the proposals will give national regulators
much more control and oversight of the medical devices industry — with adoption
mandatory. If companies do not comply with these upcoming changes then this
could possibly result in a company losing its license to operate. The impact of this
regulation can dramatically alter the operations of medical device manufacturers and
even impact the composition of their existing as well as future portfolios.”
Medtech Europe – the european medical technology industry Deloitte – Preparing for the future: The New European Union medical devices regulation
17
2
Giotto Compliance
Current potential revenue of Giotto Compliance
EUMDR
There are 500K types of medical devices on the EU Market *
EUMDR compliance requires regular updates of the Clinical Evaluation Reports (CER)
19
2
Giotto Compliance
Competition
1/4
Basic
Digitalisation [RobotAnalyst]
[Sysrev]
Advanced
Automation
[Raxter]
[DistillerSR]
[Covidence]
Giotto Compliance
[GradePro]
Advanced
Digitalisation
[JBI Summari]
[Syrf]
[Swift-Review]
[RevMan]
[RobotReviewer]
[Rayyan]
[Mendeley Reference [Systematic Review
Management] Data Repository]
Basic
20 Automation
2
Giotto Compliance
Competition
2/4
No
2
3
1
Company
Giotto Compliance
Covidence
GRADEpro
Raxter
Data
Screening
Data
Extraction
Report
Generation
EUMDR
Specific
Digital Review
Submission (Nobo's)
Soon (2023)
4 DistillerSR
5 JBI SUMARI
6 SysRev
7 Syrf
8 Rayyan QCRI
9 Review Manager (RevMan)
10 SWIFT-Review
11 RobotReviewer
12 RobotAnalyst
13 Mendeley Reference Management
14 Systematic Review Data Repository+
2
Giotto Compliance
Competition - Substitutes
3/4
No
1
Main Competitors
Castor
Reason
End-to-end data solution for device and diagnostics trials (MDR generalist tool):
Captures, processes, and integrates data from multiple sources (FIH, Pivotal and
Post-Marketing studies, supporting compliance with MDR, IVDR, CE mark, and FDA De
Novo submissions) on a compliant electronic data capture (EDC) for clinical trials).
3 Kalypso Help companies achieve EU MDR compliance and drive innovation with digitally-enabled
products, processes and business models.
4 Clever Compliance Nordic state-of-the-art compliance software solution: Compliance reports, monitoring
regulatory changes, compliance documentation repositery, supplier compliant interface,
project collaboration, product compliance workflow.
5 Veeva Veeva MedTech Suite improves speed and agility throughout the device and diagnostic
lifecycle: faster time to market, stronger compliance throughout the product lifecycle, e cient
ffi
No
7
Main Competitors
KeborMed
Mantra Systems
Reason
Connect, collect, present and manage data from multiple sources, integrate, and provide
clinicians with valuable insights into their patients' evolution, both historically and in real
time.
Build clinical evidence generation systems and perform data analysis services, enabling
clients to meet MDR requirements for Clinical Evaluation, PMS, PMCF and Vigilance.
8 Leitwert Swiss Firm / Data generated by medical wearables holds huge potential to improve
healthcare and clinical research / Provide market leading firmware for wearable devices,
enable device manufacturers to efficiently manage their device fleet and practitioners to
integrate wearables in clinical processes and Digital Health solutions.
9 Medisante Swiss Firm / Integration of Patient-Generated Health Data (PGHD) into clinical systems.
10 Aligned Swiss Firm / Built for MD regulatory compliance / Cut time spent on documentation, Free up
valuable staff for innovation, Stay compliant with regulations.
23
2
Giotto Compliance
Key facts
9 Customers
24
Growth Strategy
for Giotto
Compliance
3
Growth Strategy
Repeatble process to convert leads into paying customers
SDR team
Outbound leads Sa
les
Q
Le ualifi
ad ed
ting d
Bye bye
not qualified
AE team
Configuration
Customer stage II
Subscription
Stand by
Follow-up, training, content, upsell
qualified but…
Wrong timing
Need approval
MDR team
Nurturning list
26 marketing
3
Growth Strategy
Outbound strategy
SDR team
01
Repeatable process to target potential customers
Persona-based prospecting
(Buyer personas)
Account-based search
04 Demo
27
3
Growth Strategy
Inbound strategy Effective fishing net capable of attracting potential customers
Newsletter/Webinar Ad Campaigns
Share relevant content with leads and customers
Google Search and Display (EUMDR)
Giotto Compliance
Launch
Start outbound
Inbound testing
Investment
round A2
Speed up outbound
Start inbound
Investment
round B
Massify outbound
Massify inbound
29
Research
4
Research
Topological Data Analysis 101
Main features:
Solid mathematical foundations
Based on combinatorial algebraic topology
Persistent homology:
Tool to extract geometric information of the
shape of point clouds in a non-parametric way
Mapper algorithm:
Visualization of high dimensional data that
preserves features related to shape
Invariant under continuous deformations
Provably stable against noise
a) Original Point Cloud b) Coloring by filter value c) Binning by filter value d) Clustering and network construction
31
4
Research
Added value of topology in machine learning
1/3
Stability against
noise
Enhance the generalisation and
predictive power of general ML
algorithms
3
The above is an example of the predictive power of topology in financial time series.
32 3. https://towardsdatascience.com/detecting-stock-market-crashes-with-topological-data-analysis-7d5dd98abe42
4
Research
Added value of topology in machine learning
2/3
Invariance under
deformation
x
Simplify and transform models to
increase robustness
x
Topological
regularisation
y
y
33
4
Research
Added value of topology in machine learning
3/3
-TDA
like stroke. Strong correlation between the shape of
brain arteries and the age of the patient.
Current NLP models based on WE fail at capturing all the semantics. A graphical representation of a word embedding space using Mapper
Giotto-deep
A Python library creating interpretable and
topologically enhanced deep learning
algorithms. Fully compatible with Pytorch
Giotto-tda
The most downloaded library on topological
data analysis.
It contains brand new high-performance
Giotto-time
A Python library for multi time series
analysis, with innovative algorithms to
perform forecasting, correlation analysis,
and transfer learning models. algorithms, powerful visualization tools for detrending, denoising and error estimates.
high dimensional data, and an easy interface.
AGPL 3.0
150k
500+
37 5. github.com/giotto-ai
Financial
Analysis
5
Financial Analysis
Timeline
2019
Series A2
Giotto Compliance
2022
Series C
Series A Series B
Giotto TDA
2021 2024
39
5
Financial Analysis
Past milestones
04.2018
Capital increase:
CHF 3.2M Series
A – 4FO Ventures
10.2019
Grant: CHF 960K –
Innosuisse:
Topological suite
for deep learning
40
5
Financial Analysis
P&L
1/2
186'350
-
Profit and loss account 2020-2025
2021
52'958
354'000
2022
1'074'266
354'000
2023
5'134'946
354'000
2024
13'972'698
354'000
2025
29'545'970
354'000
Total revenues 186'350 406'958 1'428'266 5'488'946 14'326'698 29'949'970
Giotto direct costs of revenues 10'117 37'696 139'827 545'895 1'476'837 3'412'541
Gross Profit 176'233 369'262 1'288'439 4'943'051 12'849'861 26'537'429
41
5
Financial Analysis
P&L
2/2
Operating expenses
599'996
368'172
Profit and loss account 2020-2025
2021
859'946
324'266
2022
1'555'598
1'077'474
2023
2'852'546
2'681'480
2024
3'276'077
2'752'390
2025
3'426'919
2'836'237
General and administration 465'685 393'714 508'498 743'384 966'637 1'009'874
EBITDA (1'257'620) (1'208'764) (1'853'131) (1'334'359) 5'824'758 19'264'399
Depreciation and amortization 10'000 395'280 766'560 766'560 766'560 402'113
Financing impacts 29'619 35'000 35'000 35'004 33'587 9'000
Net income before taxation (1'297'239) (1'639'044) (2'654'691) (2'135'923) 5'024'611 18'853'286
Taxation @ 13.8% - - - (22'387) (693'396) (2'601'754)
Less: tax losses carried forward utulized - - - 22'387 693'396 1'819'176
Net income after taxation (1'297'239) (1'639'044) (2'654'691) (2'135'923) 5'024'611 18'070'709
42
5
Financial Analysis
Cash flow statement 2020-2025
Cash flow
2020 (A) 2021 2022 2023 2024 2025
Depreciation and amortization - tangible assets 10'000 24'000 24'000 24'000 24'000 24'000
Cash balance brought forward 827'213 448'540 1'794'812 4'751'681 3'342'317 8'769'803
Cash
41 balance carried forward 448'540 1'794'812 4'751'681 3'342'317 8'769'803 26'344'940
5
Financial Analysis
Balance sheet
1/2
Assets
827'213
0
46'538
Balance sheet 2019-2025
31.12.2020
448'540
10'000
15'000
31.12.2021
1'794'812
50'000
55'000
31.12.2022
4'751'681
70'000
100'000
31.12.2023
3'342'317
100'000
130'000
31.12.2024
8'769'803
160'000
145'000
31.12.2025
26'344'940
180'000
160'000
Total current assets 873'750 473'540 1'899'812 4'921'681 3'572'317 9'074'803 26'684'940
Tangible fixed assets 68'733 63'733 44'733 60'733 96'733 166'418 256'418
Financal fixed assets 10'001 10'001 10'001 10'001 10'001 10'001 10'001
Intagible fixed assets 1'059'494 1'917'424 2'626'108 1'883'548 1'140'988 398'428 0
Total fixed assets 1'138'227 1'991'157 2'680'842 1'954'282 1'247'722 574'847 266'419
Total assets 2'011'978 2'464'697 4'580'653 6'875'962 4'820'039 9'649'650 26'951'358
44
5
Financial Analysis
Balance sheet
2/2
Liabilities and Equity
59'460
263'894
105'688
429'042
Balance sheet 2019-2025
31.12.2020
115'000
1'350'000
145'000
1'610'000
31.12.2021
130'000
130'000
235'000
495'000
31.12.2022
135'000
130'000
250'000
515'000
31.12.2023
160'000
155'000
280'000
595'000
31.12.2024
210'000
190'000
300'000
700'000
All figures in CHF
31.12.2025
250'000
210'000
340'000
800'000
Loans 600'000 1'169'000 1'239'000 1'169'000 1'169'000 869'000 0
Total long term liabilities 600'000 1'169'000 1'239'000 1'169'000 1'169'000 869'000 0
Share premium 3'115'806 3'115'806 6'595'150 11'565'641 11'565'641 11'565'641 11'565'641
Retained earings -717'673 -2'278'502 -3'575'741 -5'214'785 -7'869'476 -10'005'399 -4'980'788
Result current year -1'560'829 -1'297'239 -1'639'044 -2'654'691 -2'135'923 5'024'611 18'070'709
Share capital 145'632 145'632 166'288 195'797 195'797 195'797 195'797
Total share holders’ equity 982'936 -314'303 1'546'653 3'891'962 1'756'039 6'780'650 24'851'359
Total liabilities and equity 2'011'978 2'464'697 3'280'653 5'575'962 3'520'039 8'349'650 25'651'359
45
5
Financial Analysis
Capital increases - Use of proceeds
Research activities
1'300
1'500
Figures in CHF ‘000s
1'000
1'500
46
5
Financial Analysis
Headcount summary
Research
Department
Management + IT security
Giotto Compliance development
12.2020
6
6
12
1
12.2021
2
10
3
15
12.2022
2
13
8
23
12.2023
2
19
14
35
12.2024
2
19
14
35
12.2025
3
19
14
36
Growth Compliance 2 7 27 27 27 31
Total sales and marketing headcount 2 7 27 27 27 31
Finance headcount Switzerland (CFO = 40%, Accountant = 40%) 1 1 1 1 2 2
Administration headcount Switzerland 1 1 2 3 3 3
Total finance and administration headcount 2 2 3 4 5 5
Total company headcount (including Interns and Contractors) 16 24 53 66 67 72
47
5
Financial Analysis
Exit strategy
Acquisition by another
currently larger machine
learning platform
Horizon 2022
or later
Very profitable business with potential
to expand into other related areas
such as healthcare AI solutions - remain
standalone, with existing shareholders
selling out to other shareholders or new
investors if desired
48
About L2F
6
About L2F
Management L2F’s management reflects expertise in both
Business and Research & Development
Aldo Podestà
Christopher Bolton
Matteo Caorsi
André Dias
Chief Executive Officer & Director Chief Financial Officer Chief Scientist Head of Growth
Experience:
PMI Global Sales Strategy
Experience: Experience: Experience:
Startup manager
Chartered Accountant FCA Chief Extensive research background Chief Commercial Officer
Financial Officer (25+ yrs)
50
6
About L2F
Board L2F’s board is composed of experienced decision makers
boasting significant expertise and network in key areas
Nelly Chatue-Diop
Christophe Ganz
M atthieu Berger
Philippe Gillet
MSc Computer Science BSC Economics & CFA PhD Earth Science
Bachelor of Law
MBA Finance & Strategy (Chartered Financial Analyst) /Geophysics
51
6
About L2F
Why invest amid the global crisis?
52
Thank you
for your attention
Contact us
Aldo Podestà, CEO
Christopher Bolton, CFO
a.podesta@l2f.ch c.bolton@l2f.ch