Vara Raises €4.5 Million in Series A Extension  

by Kay Aloha Villamor in October 25th, 2022

Vara, a Berlin, Germany-based startup developing an AI system to screen breast cancer, announced that it secured €4.5 million in a Series A extension round, taking the total Series A funding raised to €11M.

The round was led by VI Partners, with participation from EQT Foundation, Med360, AI Venture Studio, Merantix, and Think Health.

The company will use the capital to provide 1B women worldwide access to better screening, particularly in underfunded areas, to detect breast cancer earlier.

Jonas Muff, co-founder and CEO of Vara, says, “Today’s funding announcement, in which we welcome such esteemed investors in the healthtech, radiology, and impact-focused sectors to Vara, speaks to both the success we’ve seen in recent months, as well as to our ambition. We’re on a mission to make data-driven breast cancer screening accessible to everyone, everywhere, and catch every deadly cancer early. This funding extension helps make this mission a reality.”  

Vara powers five screening centers across Mexico in partnership with Mamotest, a breast cancer screening provider, and partnered with MITERA, the largest private hospital in Greece. 

Company: MX Healthcare GmbH

Raised: €4.5M

Round: Series A, ext.

Funding Month: October 2022

Lead Investors: VI Partners

Additional Investors: EQT Foundation, Med360, AI Venture Studio, Merantix, and Think Health

Company Website: https://www.vara.ai/

Software Category: AI-powered breast cancer screening platform

About the Company: Founded by Jonas Muff and Stefan Bunk in 2016, Vara is an AI-powered breast cancer screening platform. Vara’s AI-powered software platform, created with screening radiologists in Germany, mitigates much of the human subjectivity associated with reading mammography results—and reduces the repetitive work screening physicians are routinely subjected to. By democratizing access to early screening worldwide, Vara delivers measurable impact backed by clinical evidence. Its platform evaluates over 80,000 mammography exams per month, and it is used by 30% of all screening centers in Germany. 

Source: https://siliconcanals.com/news/startups/berlin-vara-bags-4-5m/

 



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