June 23, 2024
Avicenna.AI lands Sequence A funding

Medical imaging AI firm brings whole funding to $10 million and targets international progress.

MARSEILLE, France, Feb. 8, 2023 /PRNewswire/ — Medical imaging AI specialist Avicenna.AI in the present day introduced it has secured a Sequence A funding spherical, bringing aggregated funding within the firm near $10 million. The spherical was backed by current buyers Innovacom and CEMAG Make investments.

The brand new funds will probably be used to scale up deployment of Avicenna.AI’s options internationally and to diversify the corporate’s providing into new areas of medication.

“Final 12 months was pivotal for Avicenna.AI, with enormous progress within the deployment of our options all over the world, and really optimistic suggestions from our companions and customers alike,” stated Cyril Di Grandi, co-founder, and CEO of Avicenna.AI. “We’ve got created the situations to speed up the extension of our portfolio inside our emergency suite but additionally exterior our preliminary scope. We’ve got lastly obtained the primary patents that can enable us to consolidate our place as a pacesetter within the area with a disruptive strategy to using deep studying in therapeutic decision-making. This new funding displays the continued confidence of our buyers and signifies our readiness to change into a dominant power in healthcare AI.”

Avicenna.AI offers healthcare AI options that use deep studying to determine, detect and quantify life-threatening pathologies from CT medical photographs. Utilizing a mixture of deep studying and machine studying applied sciences, the corporate’s options mechanically detect and prioritize emergency instances inside seconds, and assess them for severity, earlier than seamlessly alerting radiologists.

Avicenna.AI’s distinctive enterprise mannequin is predicated on an asset-light, R&D powerhouse experience, producing fast enterprise progress potential by way of already signed industrial partnerships with main market actors within the US, Europe and Asia.

In a profitable 12 months for the corporate, 2022 noticed Avicenna’s AI options rolled out to greater than 140 hospitals in 14 international locations throughout three continents. The corporate is now able to scale up in 2023 and expects to deploy at the least 30 new websites each month this 12 months.

In parallel, Avicenna’s R&D efforts will add to the 4 FDA and 6 CE mark approvals already awarded to its merchandise. The corporate’s FDA-cleared and CE-Marked instruments for neurovascular and thoraco-abdominal pathologies are seamlessly built-in throughout the medical workflow, mechanically triggering and reporting algorithm outcomes by way of the methods already utilized by radiologists.

About Avicenna.AI

Based in 2018, Avicenna.AI develops medical imaging AI options for extremely prevalent pathologies. The corporate makes use of synthetic intelligence and deep studying to optimize a lot of a radiologist’s guide duties. Its CINA merchandise leverage deep studying algorithms to determine acute abnormalities and to boost clinicians’ workflow. Avicenna.AI is co-founded by Cyril Di Grandi, who beforehand co-founded and efficiently offered Olea Medical, and Dr. Peter Chang, a radiologist and internationally acknowledged professional in AI and deep studying. www.avicenna.ai

About Innovacom

Innovacom is a pioneer in innovation capital in France. Since 1988, it has invested almost €1 billion, supported greater than 300 digital and high-tech startups, participated in additional than 20 IPOs and accomplished greater than 150 industrial divestments.

The crew, which advantages from a protracted expertise in high-tech, has contributed to a number of latest successes in a number of sectors (telco, healthcare, mobilityì, vitality…) and has a strong track-record together with unicorns like Heptagon or Soitec.

At this time, Innovacom helps revolutionary industrial tasks and high-potential disruptive applied sciences by offering financing, recommendation and assist. Its affiliation with the Turenne Group has givenì delivery to one of many main impartial personal fairness corporations in France with a platform of €1.5 billion beneath administration. With workplaces in Paris and Marseille, Innovacom Gestion is licensed by the Autorité des Marchés Financiers.

About Cemag Make investments

Cemag Make investments is a household workplace devoted to healthcare and know-how, with a give attention to including worth to sufferers. Cemag Make investments has notably invested in Wandercraft, Diabeloop, and alongside innovacom in Aryballe Applied sciences.

Avicenna.AI lands Sequence A funding

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SOURCE Avicenna.AI