Lunit raises $26M to ramp up sales of AI software

Lunit, a medical software company based out of South Korea, has completed a Series C funding round worth $26 million.

Shinhan Investment led the round, with InterVest, IMM Investment, Kakao Ventures and Legend Capital of Lenovo Group also investing. A majority of the financing is expected to go toward emphasizing the global sales of Lunit’s AI software solutions for chest and breast imaging. The company’s efforts in the digital pathology space are another ongoing focus that will benefit from this latest funding round.

“Our dedication to combat cancer through AI has shaped some tangible, meaningful outcomes,” Brandon Suh, CEO of Lunit, said in a prepared statement. “We have presented our studies at global meetings such as American Society of Clinical Oncology (ASCO) and Radiological Society of North America (RSNA), and published papers in impactful journals like Radiology and JAMA Open Network. We have been actively adopting customer needs and feedback into our products, upgrading the software to improve clinical workflow.”

Additional AI in Healthcare coverage related to Lunit can be read here and here.