Avicenna.AI, a Marsille, Frace-based medical imaging AI company, raised a Series A funding.
The round, which brought total funding to $10M, was led by Innovacom and CEMAG Invest.
The company intends to use the funds to scale up deployment of its solutions across the world and to diversify its offering into new areas of medicine.
Co-founded by Cyril Di Grandi, and Dr. Peter Chang, Avicenna.AI provides healthcare AI solutions that use deep learning to identify, detect and quantify life-threatening pathologies from CT medical images. Using a combination of deep learning and machine learning technologies, the company’s solutions automatically detect and prioritize emergency cases within seconds, and assess them for severity, before alerting radiologists.
The company’s business model is based on an asset-light, R&D powerhouse expertise, generating rapid business growth potential through already signed commercial partnerships with leading market actors in the US, Europe and Asia.
2022 saw Avicenna’s AI solutions rolled out to more than 140 hospitals in 14 countries across three continents. The company is now ready to scale up in 2023 and expects to deploy at least 30 new sites every month this year.
In parallel, Avicenna’s R&D efforts will add to the four FDA and six CE mark approvals already awarded to its products. The company’s FDA-cleared and CE-Marked tools for neurovascular and thoraco-abdominal pathologies are integrated within the clinical workflow, automatically triggering and reporting algorithm results through the systems already used by radiologists.
FinSMEs
08/02/2023