Mindpeak Secures $15.3M in Funding to advance growth in Digital Pathology

CIOTechOutlook Team | Tuesday, 01 October 2024, 02:26 IST

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Mindpeak, a top provider of AI-driven medical solutions, revealed it secured $15.3 million in funding through a Series A round. ZEISS Ventures and InnoVentureFund led the round, with AI.FUND and the European Innovation Council Fund also participating. Although Mindpeak's main business is currently generating positive cash flow, this additional funding will allow the company to expand the implementation of its innovative technologies in multiple regions.

"With this new capital, we will accelerate the development and deployment of our AI solutions, empowering pathologists and researchers with faster, more accurate diagnostic tools," said Felix Faber, CEO of Mindpeak. "Our goal is to revolutionize cancer diagnostics and ultimately improve patient outcomes."

Mindpeak's AI algorithms were some of the earliest used for regular clinical diagnostics in both the US and EU. The company's cutting-edge solutions allow for automated analysis of histological and immunohistochemical tissues, assisting experts in making more assured decisions. So far, the AI solution has supported more than 30,000 patient diagnoses. This AI technology is also utilized by biopharmaceutical firms to forecast the efficacy of specific cancer therapy drugs and facilitate personalized 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. “Both as an investor and as a market partner, we are firmly convinced of Mindpeak’s promising future."

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