German startup mediaire, which transforms the way radiologists work with AI, has secured a €12 million European-led financing round, headed by lead investor LBO France with participation from IBB Ventures and the Swiss family office Wille Finance. The oversubscribed financing round included continued support from existing investors HTGF (which recently invested in Zymofix and ABH Optics), LIFTT, and Gateway Ventures.
With this investment, mediaire is set to expand its AI portfolio beyond brain, prostate, and knee diagnostics in magnetic resonance imaging (MRI). This next wave of innovation will tackle even more AI solutions, bringing AI-driven accuracy and efficiency to doctors globally. The funding marks a new phase in the company’s growth.
AI meets radiology
While Generative AI is creating a buzz across industries and remains in the early stages of the hype cycle, AI in radiology is no longer just a vision for the future. As a testament to this, Munich-based deepc, an AI-powered radiology startup, has secured $13 million in funding to fuel its global expansion.
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Founded in 2018 in Berlin by Dr. Andreas Lemke and Prof. Henrik Michaely, mediaire develops AI-powered diagnostic solutions for MRI imaging, focusing on the seamless integration of AI into clinical workflows to enhance radiologists’ efficiency and diagnostic accuracy. The company’s AI solutions, including mdbrain, mdprostate, and mdknee, provide automated decision support that improves the quality of diagnostics while optimising workflow efficiency.
The company has established partnerships with renowned university hospitals and industry leaders such as Bayer/Calantic, Sectra, deepc, as well as radiology chains like Med360, Evidia, Starvision, and RIMED/UNILABS.
mediaire’s tech is already deployed at over 350 hospitals and clinics across Europe, where it is transforming the way radiologists work. It does this by seamlessly integrating AI into daily diagnostics, removing the burden of routine analysis off the shoulders of radiologists, reducing medical workload, and improving patient outcomes.
“Our AI solutions are not a futuristic dream. We have already created a reality that is helping doctors make better decisions and giving patients faster answers,” said Dr. Andreas Lemke, CEO, and co-founder of mediaire. “We are seeing the impact on thousands of radiologists every day in hundreds of hospitals and radiology practices across Europe that are utilising our AI solutions. With this investment, we will be able to scale these benefits to even more healthcare providers.”
“We believe in the power of technology to improve lives,” said Matthes Seeling, LBO France’s Investment Director. “mediaire’s focus aligns perfectly with our firm belief in the transformative power of healthcare technology to the benefit of all professionals and patients. The dedicated team meets a crucial need in the healthcare sector considering the increasing global demand for fast, accurate and affordable diagnostics. With this investment, we will actively sustain mediaire’s growth to achieve its ambitious objectives and consolidate its position as a leader in radiology AI in Europe.”
Dr. Angelika Vlachou, Partner at HTGF, said: “We at HTGF have been very pleased with mediaire’s development over the past years, and believe the team has demonstrated the value it can add to its customers, the radiologists. The field of AI-based tools is advancing rapidly, and to be successful, companies need to demonstrate true product innovation that is precisely tailored to customer needs. We are excited to continue to support mediaire’s development.”
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