AI-based imaging start-ups worth over €1bn
This week HBI looks at the landscape of start-ups developing AI-based image interpretation and support tools, finding that the market’s most prominent players have collectively raised €500m meaning well over €1bn in combined valuation.
Most of this has come within the past couple of years with just one not having raised any money since 2017. Eight have completed a funding round this year – in spite of the COVID-19 pandemic – a further eight in 2019 and four in 2018.
Nearly 70% of the total raised came in these latest fundraising rounds, which demonstrates how investment in the sector has mushroomed in recent years. We’ve only included start-ups dedicated to AI-based interpretation and clinical decision supporting software which have received venture capital funding for this list.
The COVID-19 pandemic has, for many, highlighted how much automation can improve workflows for doctors and radiologists. Henry Weinstein, a manager partner at Benslie International, which led Arterys’ Series C, said at the time that: “The current crisis has shown us the necessity of a different approach to providing healthcare, where technology and AI are crucial for future success. Arterys is committed to transforming the way AI is integrated into the medical workflow, a promise that is long due in the industry.”
Over the next few weeks, HBI will be taking a deeper look at the outcomes in AI radiology solutions for operators and patients. Why not join the debate about how to best use AI in healthcare on our new HBI-365 platform, where we have a community based around AI and Digital Health where you can discuss the issues that matter to you with your peers.
We would welcome your thoughts on this story. Email your views to Cameron Murray or call 0207 183 3779.