Vara Raises $8.9M in Funding

Vara, a Berlin, Germany-based provider of an AI-enabled early breast cancer detection platform, raised $8.9M in funding.

The round was led by European family offices Smart Family Office (Austria) and FJH (Germany), as well as Berlin-based healthcare investor IBB Ventures.

The company intends to use the funds to further enhance its expansion into emerging healthcare markets, including India.

Founded in 2018 by Jonas Muff, CEO and Stefan Bunk, CTO, Vara is a healthcare technology company improving breast cancer screening with AI. Its AI-powered software enhances accuracy and efficiency in breast cancer detection. Integrated into Germany’s National Breast Cancer Screening Program, it supports 40% of the country’s screening centers, benefiting over 80,000 women monthly.

Key achievements with the program include:

• Over 100,000 images assessed per month using Vara’s AI
• Increased cancer detection rates, including finding 50% of the cancers that radiologists otherwise would have missed
• Reduced false positives
• Enhanced workflow efficiency for radiologists

Vara is furthering its expansion into emerging healthcare markets, including India. The company began a partnership with NM Medical, a provider of imaging services in Mumbai, Bangalore, and Pune, in 2023. The collaboration aims to elevate the standard of preventive care and early breast cancer detection in India, with a focus on mammography as a cornerstone of women’s health programs.

The company has offices in India.

FinSMEs

30/10/2024