A wave of significant funding rounds is accelerating the integration of artificial intelligence across various healthcare sectors, with radiology workflow pioneer Rad AI leading the pack with a substantial Series C raise.
San Francisco-based Rad AI has secured $60 million in an oversubscribed Series C funding round, bringing their total funding to $140 million. The company, now valued at $525 million, specializes in developing generative AI tools to enhance radiology workflows. Their recently launched Rad AI Reporting solution claims to reduce radiologists' reporting time by up to 50%. Transformation Capital led the round, with participation from established investors including Cone Health, World Innovation Lab, and Khosla Ventures.
AI-Powered Mental Health and Women's Care Platforms Expand
In the behavioral health sector, Eleos has raised an additional $60 million, elevating their total funding to $120 million. The Boston-based company's AI-powered platform assists behavioral health clinics with patient assessment and regulatory compliance. The Series C round, led by Greenfield Partners, will support expansion into underserved areas, particularly substance use disorder treatment.
Allara Health secured $26 million in Series B financing to advance their virtual care platform for women with chronic hormonal conditions. Led by Index Ventures with participation from Google Ventures, the funding will support nationwide expansion of their comprehensive care model, which combines medical treatment with lifestyle management for conditions such as endometriosis, PCOS, and hypothyroidism.
Innovation in Drug Discovery and Neurological Treatment
Manas AI, co-founded by LinkedIn's Reid Hoffman and renowned cancer researcher Siddhartha Mukherjee, emerged with $24.6 million in seed funding. The startup aims to revolutionize drug discovery through AI applications, initially focusing on aggressive cancers including triple-negative breast cancer, prostate cancer, and lymphoma.
In maternal health technology, Delfina Care raised $17 million in Series A funding to enhance their predictive analytics platform. The company's solution has demonstrated success in reducing preterm births, neonatal intensive care admissions, and pregnancy-related complications.
Grey Matter Neurosciences, based in Toronto, secured $14 million in seed funding to develop an innovative transcranial-focused ultrasound headset. The technology, developed at Sunnybrook Research Institute, aims to restore brain function in Alzheimer's disease patients, with clinical trials planned for the near future.
