Before going public with Korean Securities Dealers Automated Quotations early next year, AI startup Lunit raised $ 61 million as part of a fundraising campaign.
The US investors HealthQuest Capital, Casdin Capital and the American Cancer Society BrightEdge as well as the Asian investors Tybourne Capital Management and NSG Ventures took part in the round.
The investment event followed the Series C Tranche B funding round in July, which raised $ 26 million from American precision oncology company Guardant Health. Together with the latest round of funding, Lunit has raised over $ 135 million in capital.
“Our goal [for] The final round of investments has been to find partners who would bring strategic value to our future endeavors. We look forward to using these partnerships to strengthen our path to overcoming cancer through AI, “said Brandon Suh, CEO of Lunit.
THE BIGGER TREND
One of Lunit’s most recent partnerships is RadLink, a privately held diagnostic and molecular imaging services provider in Singapore. The transaction provided for the introduction of INSIGHT CXR chest x-ray software and Lunit INSIGHT MMG mammography product at RadLink’s facilities. The companies are also working together to explore the value of AI in reading mammography using the INSIGHT MMG.
Fujifilm Corporation also used Lunit’s INSIGHT CXR for its AI-powered chest X-ray product called CXR-AID, which detects major abnormal breast findings such as breast nodules, consolidation and pneumothorax. The device was recently approved for commercialization by the Japanese government.
Meanwhile, Lunit announced last week that it was the 510 (k) approvals for INSIGHT MMG and INSIGHT CXR Triage, a triage and notification software that analyzes chest x-rays.