Avicenna.AI, a medical imaging AI company, has announced that it has raised a Series A funding round, bringing its total investment to €10 million. The round was backed by existing investors Innovacom and CEMAG Invest. The funds will be used to expand the company’s solutions globally and diversify into new areas of medicine.
Avicenna.AI’s unique 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.
The company’s FDA-cleared and CE-Marked tools for neurovascular and thoraco-abdominal pathologies are integrated into the clinical workflow, automatically triggering and reporting algorithm results through the systems already used by radiologists.
The Marseille-based company uses artificial intelligence and deep learning to detect and prioritize emergency cases from CT medical images and assess them for severity before alerting radiologists. In 2022, Avicenna’s AI solutions were rolled out to over 140 hospitals in 14 countries across three continents, and the company plans to deploy at least 30 new sites every month in 2023.