The company, which specialises in artificial intelligence and medical imaging, raised a total of $10 million as part of its global expansion.
Read the original article on the Avicenna.AI website.
The company, which specialises in artificial intelligence and medical imaging, has raised a total of $10 million as part of its global expansion.
On Wednesday 8 February 2023, Avicenna.AI, a company specialising in the use of AI in medical imaging, announced today that it had secured total funding of nearly 10 million dollars. This funding round was backed by existing investors Innovacom and CEMAG Invest. The funds will be used to accelerate the global roll-out of Avicenna.AI’s solutions and to diversify the company’s offering into new, highly sought-after areas of medicine.
“Last year was a pivotal year for Avicenna.AI, with significant growth in the roll-out of our solutions worldwide, coupled with very positive feedback from users,” says Cyril Di Grandi, co-founder and CEO of Avicenna.AI. “We have laid the groundwork to accelerate the expansion of our offering into new areas of medicine. We have finally secured our first patents, which will enable us to consolidate our position as a leader in the field, with a disruptive approach to the use of deep learning in clinical decision-making. This new investment reflects the continued confidence of our investors and means we are poised to become a dominant force in healthcare AI. ”
During 2022, Avicenna’s AI solutions were deployed in more than 140 hospitals across 14 countries on three continents. The company is now ready to take the next step in 2023, and plans to roll out the solutions to at least 30 new sites every month this year.
At the same time, Avicenna’s R&D efforts will complement the four FDA approvals and the six CE markings already granted for its products. The company’s FDA-approved and CE-marked tools for neurovascular and thoraco-abdominal conditions are seamlessly integrated into the clinical workflow, automatically triggering and communicating algorithm results via the systems already used by radiologists.
About Innovacom
Innovacom is a pioneer in innovation capital in France. Since 1988, it has invested nearly one billion euros, supported more than 300 digital and high-tech start-ups, participated in more than 20 initial public offerings and completed more than 150 industrial divestments.
The team, which has extensive experience in high technology, has contributed to several recent successes across a range of sectors and boasts a strong track record, including unicorns such as Heptagon and Soitec.
Today, Innovacom supports innovative industrial projects and high-potential disruptive technologies by providing them with funding, advice and support. Its partnership with the Turenne Group has given rise to one of France’s leading independent private equity firms, with a platform of €1.5 billion under management. With offices in Paris and Marseille, Innovacom Gestion is authorised by the Autorité des Marchés Financiers.
About Cemag Invest
Cemag Invest is a company specialising in healthcare and technology, with the aim of creating added value for patients. In particular, Cemag Invest has invested in Wandercraft and Diabeloop, and, alongside Innovacom, in Aryballe Technologies.
Joffe & Associés (Thomas Saltiel, Paddy Pascot and François Galéa) advised all parties involved in this transaction.
