Avicenna.AI Receives Series A Funding to Fuel Global Growth

February 8, 2023—Avicenna.AI, a France-based company specializing in medical imaging artificial intelligence (AI), announced it has secured a Series A funding round, bringing aggregated investment in the company to approximately $10 million. The round was backed by existing investors Innovacom and CEMAG Invest.

According to the press release, the new funds will be used to scale up deployment of Avicenna.AI’s solutions globally and to diversify the company’s offering into new areas of medicine.

Avicenna.AI stated that its health care AI solutions use deep learning to identify, detect, and quantify life-threatening pathologies from CT medical images. Using a combination of deep learning and machine learning technologies, the company’s solutions automatically detect and prioritize emergency cases within seconds, and assess them for severity, before seamlessly alerting radiologists.

According to the company, the AI solution optimizes many manual tasks of radiologists. Its Cina products use deep learning algorithms to identify acute abnormalities and to enhance clinicians’ workflow.

In 2022, Avicenna’s AI solutions were rolled out to more than 140 hospitals in 14 countries across three continents. The company now expects to deploy at least 30 new sites every month in 2023.

Additionally, Avicenna will add to the four FDA and six CE Mark approvals already awarded to its products. The company’s FDA-cleared and CE Mark-approved tools for neurovascular and thoracoabdominal pathologies are integrated within the clinical workflow, automatically triggering and reporting algorithm results through the systems already used by radiologists, noted the company.