[Funding alert] French-based AZmed Secures €15Milion in Series A Round Funding

Wednesday 21, 2024 | By Startup Rise EU

French-based AZmed Secures €15Milion in Series A Round Funding. Tempact Ventures, Techstars, and Maison Worms are among the investors in this round. AZmed was established in 2018 with the goal of enhancing patient care pathways by improving the working environment for medical imaging specialists.

French-based AZmed Secures €15Milion in Series A Round Funding. Tempact Ventures, Techstars, and Maison Worms are among the investors in this round. AZmed was established in 2018 with the goal of enhancing patient care pathways by improving the working environment for medical imaging specialists.

Read also - Edinburgh-based PhaSER Biomedical Secures $2.3Million in Funding

The business has created Rayvolve, an AI diagnostic tool that can recognise a variety of anomalies in conventional radiography. Rayvolve reduces the chance of diagnostic errors, increases the efficiency of examination interpretations, and saves time for radiologists and emergency physicians.

The first artificial intelligence programme to ever acquire CE marking for X-ray fracture diagnosis was Rayvolve in 2019. It then received FDA approval in 2022 and has been used in more than 1,000 medical facilities in 40 different nations ever then.

Read also - Berlin-based Monite Secures $6Million in Seed Funding

Due to the software's effectiveness, CHIREC, the NHS, SimonMed Imaging, UH Cleveland Medical Centre, and other prestigious healthcare organisations have partnered with it.

With the support of this finance, AZmed is better positioned to expand its activities throughout the United States, the Middle East, Africa, and Asia in addition to strengthening its position in Europe.

Read also - Bilbao-based WIVI Vision Secures €4 Million in Funding

CEO of AZmed, Julien Vidal, shared: "We are thrilled to have obtained this funding to advance AZmed to the forefront of the medical imaging industry. As the number of physicians has remained constant while the volume of medical images has increased, it is beyond dispute that every medical image must be correlated with a diagnosis of AI. Hence, AZmed is determined to pioneer AI solutions in radiology to efficiently support the growing flow of images and improve the patient care pathway."

Arnaud Decrulle from Maison Worms said: "The AZmed team has demonstrated unmatched commitment and creativity in tackling the pressing issues that affect healthcare practitioners. With this investment, AZmed will be in a strong position to enhance the care that is provided to patients. We share the company's mission and are excited to be a part of its journey to transform healthcare."

About AZmed

The first French business to commercialise AI-powered radiography software was AZmed. In OECD nations, the number of medical imaging acts has increased by two during the past ten years. On the other hand, there are no longer as many experts available to evaluate this information flow.

Read also - Paris-based Planity Secures $50 Million in Series C Round Funding

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