According to a market study report from Signify Research, investment in companies that are building Artificial Intelligence-powered medical image analysis solution was worth nearly USD580 million, in the last year that was double from the year 2017.
The report highlighted the peak of new market entrants in 2015-16 where the amount of early-stage investments has since turned down. But, last year, the investors seemed to have moved their focus to large-stage investments, meaning Series B funding. However, the report predicted that in 2019, the investors will favor the more established medical imaging AI companies. As the report noted that HeartFlow is by far the most-funded company, followed by VoxelCloud and Infervision, and 84 companies who revealed funding during the period of 2014-18, the average funding was USD 14.4 million per company. Some of the largest funding rounds, in 2018, went to Asian companies. Apart from HeartFlow’s USD240 million Series E funding round, Asian companies raked in 42 percent of the USD340 million investments last year. HeartFlow, VoxelCloud, Arterys most-funded companies around the USA.
The report’s other key finding illustrated that there are more than 120 startups building AI-optimized solutions for medical imaging. These companies, since the year 2014, have received more than USD 1.2 billion investments and that funds keep on escalating each year, including last year’s USD580 million investment. The report also highlighted that angel funding, seed funding and Series A funding turned down last year, but through Series B funding and other later-stage deals, it significantly boosts.