Dutch company raises $11.3M to expand AI platform that detects lung cancer

Aidence, a Netherlands-based medical imaging company, has raised about $11.3 million in funding to expand its AI-powered platform for detecting lung cancer.

With the funding, the company hopes to expand its AI-powered pulmonary nodule management assistant tool, Veye Chest. The tool applies machine learning to existing imaging infrastructure to better spot and track changes in pulmonary nodules. The technology is currently installed in more than 10 hospitals in the Netherlands, United Kingdom and Scandinavia, according to a press release.

The company’s recent Series A funding round was led by INKEF Capital and Rabo Ventures, with contributions from Northzone, Health Innovations and HENQ Invest. According to information available on Crunchbase, the company’s total funding now stands at about $13.9 million after a seed round raised about $2.6 million.

The company hopes the funding will help push its expansion into the European market and support its effort to gain FDA clearance and entry into the United States healthcare market.

“Since day one, we have been determined to deliver a tangible clinical AI solution that can be used by healthcare professionals to help their patients. We welcome INKEF and Rabo Ventures on our journey as we strive to shape the future of the medical imaging industry,” a press release stated. “This investment will allow our research and development team to expand and explore new avenues for the Veye platform to support our radiologist AI pioneers and the patients they care for.”