Ibex Medical Analytics (Ibex), a Tel Aviv, Israel-based AI-powered cancer diagnostics solution, announced that it secured $10 million in funding from Kreos Capital.
Octopus Ventures, 83North, aMoon, Planven Entrepreneur Ventures, and Dell Technologies Capital also participated in the round.
The fund will be used to strengthen and expand its US team and support new customer deployments, fueling further business growth.
The company will also accelerate R&D initiatives, adding new applications to the Galen platform to enable new tissue diagnostics and automated biomarker quantification and enhancing collaboration with leading digital pathology providers.
"The recent milestones we have accomplished demonstrate our continued commitment to providing every patient with an accurate, timely and personalized cancer diagnosis powered by our AI technology," said Joseph Mossel, CEO, and Co-founder of Ibex Medical Analytics. "This latest funding from Kreos Capital validates our prominence in the market and will further fuel our growth in line with our commercial successes, strong product roadmap, and ability to execute across multiple markets."
Company: Ibex Medical Analytics Ltd.
Funding Month: November 2022
Lead Investors: Kreos Capital
Additional Investors: Octopus Ventures, 83North, aMoon, Planven Entrepreneur Ventures, and Dell Technologies Capital
Company Website: https://ibex-ai.com/
Software Category: AI-powered Cancer Diagnostics
About the Company: Ibex Medical Analytics (Ibex) is transforming cancer diagnostics with world-leading, clinical-grade AI-powered solutions, empowering physicians to provide accurate, timely, and personalized cancer diagnoses for every patient. Its Galen™ suite of solutions is the first and most widely deployed AI technology in pathology. It is used as part of everyday routine, supporting pathologists and providers worldwide in improving the quality and accuracy of diagnosis, implementing comprehensive quality control, reducing turnaround times, and boosting productivity with more efficient workflows. Ibex's artificial intelligence technology is built on deep learning algorithms trained by a team of pathologists, data scientists, and software engineers.