This international financing round will bring mediaire’s“Deep Learning diagnostic” portfolio which allows faster, more accurate and safer MRI analysis to the next level. Moreover, it will enable the expansion into further European markets.
mediaire, the start-up born in Berlin in 2018 that has proprietary disruptive technologies in the field of magnetic resonance imaging (MRI), aims at international markets thanks to a joint investment made by the High-Tech Gründerfonds (HTGF), by the Austrian/German investor network primeCROWD and the Italian LIFTT.
The three institutions, active in the field of seed investment, intend to commercially enhance the highly innovative product in the diagnostic field developed by the German company. Their software allows to improve the workflow of radiologists through more efficient quantitative image analysis, as well as reducing operating costs thanks to the use of Artificial Intelligence and Deep Learning.
Mediaire was born from the intuition of Dr Andreas Lemke and Dr Jörg Döpfert, two German engineers experts in MRI (Magnetic Resonance Imaging) who aimed to improve the radiologists’ workflow through a more efficient quantum / qualitative image analysis. Their aim was to speed up the quantification for brain volume and the detection of brain lesions thus facilitating the early diagnosis of neurodegenerative diseases such as multiple sclerosis or Alzheimer’s.
For this purpose, the start-up has created mdbrain, a rewarding software solution powered by artificial intelligence (AI). It uses a combination of several deep learning methods to derive meaningful data from MR images. The seamless integration of mdbrain into customers’ local IT-system not only provides customers with an objective 2nd opinion within just a few minutes but also with the best possible data protection.
The capital increase will support the Sales & Marketing activities in several countries, with the creation of a commercial network, the further development of the product range and upselling. After the kick-off in Germany, Switzerland and Austria in 2020, mediaire is planning to extend its geographical coverage into other European markets starting 2021 and into further international markets by 2023. At the same time its product portfolio will grow from the current focus on brain imaging into other areas like knee or prostate. The workforce will grow accordingly: it is expected to reach 150 employees by 2025.
Dr. Andreas Lemke , CEO of mediaire comments: “We are delighted that we could close this financing round with 2 new seed investors which will not only help us with financial means to expand our portfolio and geographical coverage, but also activate their network to accelerate our growth even further.”
Dr. Juri Bach, Investment Manager at HTGF comments: ”mediaire has developed extraordinarily over the last two years. The acceptance among radiologists to use the software is exceptionally high and the interest in the products is constantly growing. In the coming year mediaire will develop into the leading brand in the field of MRI diagnostics in Europe.”
Dr. Ronald Rapberger, Investment Director at primeCROWD: “As a leading investor network in the DACH region, it is always our goal to bring together the best founders with the most suitable investors. In the case of mediaire, we have succeeded exceptionally well in this respect. Besides the oversubscription of the financing, we were able to put together a highly diverse group of investors, consisting of experienced MedTech investors, professional business angels as well as several investors from the radiology sector itself. I do see a lot of synergy potential here.”
Giovanni Tesoriere, CEO of LIFTT commented: “Today more than ever health services need concrete solutions that improve internal processes such as mediaire’s. Thanks to its cutting-edge deep learning algorithms it will increase the quality of hospital radiology. Also, this co-investment operation with two international players such as HTGF and primeCROWD is a first major step to seize the growth opportunities for the projects LIFTT supports outside the national borders, and at the same time to implement high potential businesses on the Italian market.”
Link to the full press release: PRESS RELEASE Mediaire Successful Closing Of Financing Round VDef161202020