Vara Raises $8.9 Million in Funding

by Kay Aloha Villamor in October 31st, 2024

Vara, a Berlin, Germany-based AI-powered breast cancer detection platform, has raised $8.9 million in funding. 

Investors 

The round was led by new investors, including Austria's Smart Family Office, Germany's FJH, and Berlin’s IBB Ventures. 

Smart Family Office is an angel network based in Salzburg, Austria. It offers asset allocation strategies, trust fund solutions and philanthropic partnerships for family wealth management. 

FJH is a private investment firm based in Germany. 

IBB Ventures has provided venture capital to innovative Berlin startups since 1997, focusing on early-stage technology and creative industries. It manages €120 million across three funds, including a €30 million impact fund launched in 2022. Backed by Investitionsbank Berlin and the ERDF, IBB Ventures has invested over €275 million in more than 260 Berlin-based companies, catalyzing a total of €1.8 billion in funding alongside partners. 

Vara Use of Funds 

The company plans to use the funds to expand into emerging healthcare markets, including India. 

About Vara 

Founded in 2018 by Jonas Muff and Stefan Bunk, Vara is a healthcare technology company specializing in AI-powered breast cancer screening. Headquartered in Berlin, Vara develops software to assist radiologists by improving cancer detection accuracy and streamlining workflows. Vara's AI-powered software enhances accuracy and efficiency in breast cancer detection, identifying more cancers that radiologists might miss while reducing their workload. 

Funding Details 

Company: Vara 

Raised: $8.9M

Round: Unknown

Funding Date: October 2024 

Lead Investors: Smart Family Office, FJH, IBB Ventures 

Additional Investors: 

Company Website: https://www.vara.ai/  

Software Category: AI Breast Cancer Detection 

Source: https://www.globenewswire.com/news-release/2024/10/29/2970678/0/en/Vara-Raises-8-9M-in-Funding-While-Expanding-AI-Enabled-Early-Breast-Cancer-Detection-to-India.html 

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