Munich-based inveox secures €17M funding: Here’s how it plans to improve cancer diagnosis

Munich-based inveox secures €17M funding: Here’s how it plans to improve cancer diagnosis

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Munich-based inveox provides Artificial Intelligence supported cancer diagnosis. Following its expansion into Germany, Austria, and Switzerland (DACH region), it continues to grow as the heathtech startup opened a subsidiary office in Krakow, Poland.

Now, the company has secured €17 million from its existing investors to improve cancer diagnosis. With this investment, inveox aims to begin series-level production of AI-supported automation system to make cancer diagnosis more reliable and faster.

Improves cancer diagnosis

Founded in 2017 by Maria Sievert and Dominik Sievert, inveox aims to help people suffering from cancer by improving the reliability of cancer diagnosis. They founded the startup with the intention to bring technologies including digitisation, Artificial Intelligence, and automation into the world of histopathology. With these processes, cancer diagnosis is not only faster but also safer. It improves both the arrival and testing of tissue samples in a lab.

Connects pathology labs

This German startup develops systems to automate, digitise and connect pathology laboratories. It wants to ensure cancer diagnosis is profitable and efficient for laboratories. Also, inveox is planning to unlock the potential of personalised diagnostics with the help of Artificial Intelligence and big data.

Provides IoT/SaaS integral system

inveox’s IoT/SaaS integral system consists of an intelligent sample container, a lab automation machine, and AI-enhanced software. This system is being implemented with several customers in the DACH region including university clinics in Germany.

Eyes global expansion

The healthtech startup is in plans to enter into new markets outside of Europe later this year. “We will use this further investment for our forthcoming series production and expansion into new markets,” said Managing Partner Maria Sievert.

Backed by EIT Health!

Since its inception, inveox has won several awards. Last year, it won the Munich Startup Award for its innovative vessel meant for tissue samples. Also, it has been a part of accelerators including Digital Health (Roche Diagnostics/Plug&Play) and EIT Health. It will also take part in the upcoming Texas Medical Center Accelerator 2019 in Houston.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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EIT Digital Conference 2019: These 5 innovative tech startups are coming to Brussels in September

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