AI-powered pathology solutions provider Mindpeak has announced it has raised $15.3 million in a Series A funding round. This new investment will enable the company to further expand the commercialisation of its recently expanded suite of technologies across several new territories.
Mindpeak’s AI algorithms were among the first to be deployed for routine clinical diagnostics in both the US and EU. The company’s solutions enable automated histological and immunohistochemical tissue analysis, helping experts make more confident decisions. To date, over 30,000 patient diagnoses have been supported using the AI solution. Biopharmaceutical companies also use this AI technology to predict the effectiveness of certain medications in cancer therapy and to enable targeted treatments.
“Since its founding in 2018, Mindpeak has developed cutting-edge solutions, establishing itself as a prominent leader in the digital pathology market,” said Mike Gänßler, Investment Manager at ZEISS Ventures which led the funding alongside InnoVentureFund. “Both as an investor and as a market partner, we are firmly convinced of Mindpeak’s promising future."
Recently, Mindpeak expanded its product portfolio to include additional organs, biomarkers, and stainings. Strategic partnerships with leading healthcare organisations, such as Roche, along with positive regulatory developments, further bolster the company’s position in the market.
"Mindpeak’s commitment to innovation in digital pathology has been evident through their rapid product development and growing adoption across markets," said Gencer Sahin, Head of Investments at IFB Innovationsstarter GmbH / InnoVentureFund. “This funding round will further solidify their position as a key player in the transformation of cancer diagnostics."