Avicenna.AI completes its first round of financing for 2.7 million dollars

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Marseille, February 6th, 2020 – Avicenna.AI, a company specialized in the development of software for the detection of emergency pathologies in CT scanners, announces the completion of its first capital increase with Innovacom and CEMAG Invest for an amount of almost 3 million dollars. This is one of the largest fund raising in France this year in the medical imaging field.

Avicenna.AI develops new generation of algorithms dedicated to the detection of life threatening lesions. For detecting these pathologies affecting a large number of patients worldwide, Avicenna.AI offers healthcare professionals new tools of unrivalled effectiveness, enabling them to improve patient care, in particular by helping specialists to identify faster the patients who need to be treated as a priority in an emergency context.

Avicenna.AI was created by gathering experts in medical software and radiologists to offer solutions that are in line with clinical routines. This partnership has led to important collaborations with hospitals, research laboratories and one of the largest tele-radiology groups in the world, providing the necessary confidence to the major manufacturers in the field to integrate our solution into their offer.

“Avicenna.AI’s ambition is to become a leader in the diagnostic assistance for radiologists. By concentrating our efforts on emergency imaging, we will enable a reduction in interpretation time, faster patient care and improved diagnostic quality in a clinical context that everyone knows is tense. With this funding, Avicenna.ai will be able to commercially develop its product in Europe and register it in the United States, and continue its R&D program to reliably improve the radiologist’s routine,” said Cyril DI GRANDI, co-founder and president of Avicenna.ai.

“Our solution  seamlessly integrates into the clinical routine and requires no additional interfaces for the radiologist, who is already overwhelmed by a multiplicity of them, whether dictating the report or viewing images. In addition, our software offers the dual advantage of being totally secure and offering unequalled performance in the detection of pathologies”, explains Peter CHANG, MD, co-founder and leader opinion in artificial intelligence.

About Innovacom

Since 1988, Innovacom has invested closed to one billion euros, supported more than 300 digital startups, participated in more than 20 IPOs and completed 150 industrial disposals.

Innovacom has contributed to several recent successes in various sectors: electric vehicles (G²mobility), ad tech (Videoplazza), medical imaging (Olea Medical), digital customer relations (Dimelo), connectivity in trains (21Net Ltd) or components for smartphones with the Heptagon unicorn.

Innovacom currently supports high-potential companies such as Aryballe Technologies, CAILabs, Cozy Cloud, Exagan, Feeligreen, Intersec, Iten, Kolibree, MicroEJ, Matrixx Software, Robart Gmbh and Scintil Photonics.

Its recent association with the Turenne Group, one of France’s leading independent private equity firms, has given rise to a €1 billion platform under management. Present in Paris and Marseille, Innovacom is a company approved by the Autorité des Marchés Financiers.

About Cemag Invest

Cemag Invest is a family office dedicated to healthcare and technology, with a focus on adding value to patients. Cemag Invest has notably invested in Wandercraft, Diabeloop, and alongside innovacom in Aryballe Technologies. 

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