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The EIT Digital Accelerator is well known in Europe for helping European tech scaleups grow and expand internationally. One of its supported scaleups is the France based company called QuantifiCare, which is an imaging Contract Research Organization (CRO). The scaleup specialises in developing, manufacturing and marketing imaging solutions for clinical trials and physicians and is a global company specialized in 2D and 3D imaging of the skin. QuantifiCare has announced of securing €5 million in series A funding with Digital Health 2, which is a new venture fund of LBO France.
QuantifiCare is the first investment of Digital Health 2, which, as mentioned earlier, is the new venture fund of LBO France. LBO France supports the growth of innovative SMEs in Digital Health and the Silver Economy via its digital health funds. The company is investing €5 million in QuantifiCare, which will use the funds for expanding its services and strengthening its ‘prominent position’ in skin imaging worldwide.
EIT Digital Accelerator supported QuantifiCare in initiating and organising the fundraising round. “We have been impressed by the expertise this company has developed in the field of optics, 3D imaging, and in marketing its solutions all across the globe. We are extremely proud to have supported QuantifiCare in this significant fundraising, focusing on deep-tech and image processing, which are areas covered in depth by EIT Digital Accelerator“, says Daniel Michel, Head of Access to Finance (“A2F”) at EIT Digital.
QuantifiCare was founded in 2001 as a spin-off of INRIA (the National Research Institute in Computer Sciences and Automation). The scaleup is a CRO whose expertise is in skin evaluations for clinical trials to pharmaceutical and cosmetic companies. The company offers a full range of 3D cameras and software applications that are employed both pre and post-surgery in fields such as wound healing, dermatology, aesthetics, and oncology. It joined EIT Digital Accelerator in November 2018.
The scaleup was most likely spotted by LBO France as a good investment opportunity since its offerings are said to be deployed in a thousand clinical sites across sixty countries. With the latest round of investments, QuantifiCare is focussed on not only strengthening its offerings but also in expanding its existing operations in countries like the United States, Latin America, the Middle East and Asia.
Jean-Philippe Thirion, Founder & CEO of QuantifiCare, says, “We are thrilled to have LBO France, a leading investor in digital health, backing QuantifiCare and joining our board to help us execute our global strategy. We already offer the most advanced 3D solutions for medical and clinical use. The funds raised will enable us to intensify our marketing, R&D and operations internationally, accelerate our growth and strengthen our leadership position in 2D/3D skin imaging worldwide.
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