Oxipit, a Vilnius, Lithuania-based MedTech startup that creates AI tools for global medical imaging, closed €3.5 million in funding.
The round was led by Taiwania Capital, Practica Capital, and Coinvest Capital, with participation from angel investors.
The funding will help Oxipit advance its development of autonomous AI medical imaging applications and support market expansion into new geographic regions, with a particular focus on the United Kingdom.
“2022 was a breakthrough year for the Oxipit team. In spring we introduced ChestLink - the first fully autonomous AI medical imaging application, which produces patient reports without any radiologist oversight. For a long time the tech world predicted AI to take over the diagnostics of certain pathologies. This year ChestLink made the first inroads into the future of diagnostic medicine”, says CEO of Oxipit Gediminas Peksys.
In April 2022, Oxipit received CE Class IIb certification for ChestLink autonomous imaging software which allows the company to deploy the software in 32 European markets.
Another product by Oxipit Oxipit Quality - acts as a virtual radiologist assistant that provides quality control for chest X-rays, musculoskeletal X-rays, computer tomography, and mammography medical images. Oxipit Quality is already available in European markets and Australia. In December it was certified for use in Brazil. The company plans to file for US FDA certification in 2023.
Company: Oxipit
Raised: €3.5M
Round: Unknown
Funding Month: January 2023
Lead Investors: Taiwania Capital, Practica Capital, and Coinvest Capital
Additional Investors:
Company Website: https://oxipit.ai/
Software Category: AI Solutions for Medical Imaging
About the Company: Founded in 2017, Oxipit is a computer vision software startup specializing in medical imaging. The company aims to introduce innovative artificial intelligence and deep learning breakthroughs to everyday clinical practice. Its mission is to harness the latest AI and machine learning developments for better patient outcomes around the world.
Source: https://oxipit.ai/news/oxipit-funding-round/