Computational pathology firm Proscia lands $23M in Sequence B funding

Computational pathology company Proscia lands $23M in Series B funding

Digital pathology startup Proscia landed $23 million in Sequence B funding. The most recent spherical was led by Scale Enterprise Companions with participation from Hitachi Ventures. 

This comes roughly two years after the corporate closed its $8.5 million Sequence A spherical of funding. 

WHAT THEY DO 

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The corporate’s essential software program platform is known as Concentriq, which focuses on computational pathology. The tech makes use of synthetic intelligence (AI) and was designed to assist labs, well being techniques and life science firms interpret tissue knowledge. It is ready to mix picture and knowledge. 

Proscia additionally has a product known as Concentriq Dx, which helps with pathology workflow. For instance, it is ready to automate “action-based triggers” for assignments and observe operational insights a few lab.

As well as, the corporate has a analysis software that lets establishments share knowledge and collaborate on pathology initiatives. 

WHAT IT’S FOR 

Proscia plans to make use of the brand new cash to construct out its industrial efforts and international gross sales and advertising. It is usually taking a look at increasing its know-how, particularly its AI utility portfolio. 

Moreover, it plans on looking for FDA and CE mark clearances sooner or later. 

“We’re excited for this subsequent milestone in our journey,” mentioned David West, CEO of Proscia. “Over the previous few years, we’ve battle-tested Concentriq at main organizations and demonstrated the unprecedented potential of AI. In welcoming Scale Enterprise Companions and Hitachi Ventures to the Proscia crew, we’re higher positioned than ever earlier than to drive a change that may affect hundreds of thousands of most cancers sufferers and their households.”

THE LARGER TREND 

Proscia isn’t the one digital pathology software available on the market. Paige.AI applies AI to pathology for most cancers analysis and remedy. In 2018, it scored $25 million in Sequence A funding spherical to propel its efforts after which one other $45 million in 2019.  Deep Lens, a digital pathology startup out of Nationwide Youngsters’s Hospital targeted on oncology trials, scored $13.7 million in Sequence A spherical of funding in 2019. 

 

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