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AI startup FathomX from Singapore has raised SG$2.24 million ($1.6 million) from an undisclosed investor within the lead-up to its Sequence A funding spherical.
This follows its seed funding spherical in April final 12 months the place it raised SG$500,000 (over $350,000).
WHAT IT DOES
A spin-off from the Nationwide College of Singapore and the Nationwide College Well being System, FathomX presents an AI-powered mammography help instrument known as FxMammo.
The screening resolution has been discovered to be extremely correct in detecting most cancers in dense breasts amongst Asian girls. It is usually in a position to scale back false positives for interval cancers, or cancers which are identified in between routine screening episodes. Moreover, it enhances medical workflow by decreasing screening time and workforce.
The startup is intently working with the Diagnostics Growth Hub of Singapore’s Company for Science, Expertise and Analysis and Hewlett Packard Enterprise to develop FxMammo into software program as a medical gadget.
WHAT IT’S FOR
Its recent funding will assist speed up the tempo of its product growth and its acquisition of regulatory approvals. Furthermore, the funding will help its ongoing multi-site validation examine for FxMammo throughout eight markets in Asia-Pacific, in addition to facilitate extra analysis and business collaborations.
MARKET SNAPSHOT
South Korean startup Lunit is at present main the AI diagnostic house in APAC. It additionally presents an AI mammography help instrument, Lunit INSIGHT MMG, which analyses mammograms with 96% accuracy. It lately unveiled a brand new digital breast tomosynthesis instrument which accelerates the studying course of by selecting a 3D slice picture with suspicious lesions amongst a number of photos.
One other startup, Whiterabbit, has additionally lately launched its personal AI breast most cancers screening resolution known as WRDensity, which was given an FDA 510(okay) clearance in 2020. It makes use of AI to ship information on breast density, which is a danger issue for breast most cancers. New Zealand-based Volpara Well being is one other firm that has acquired the identical US FDA approval for its breast most cancers detecting platform, Volpara Imaging Software.
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