Finnish scale-up MVision AI, a cloud-based software service provider for radiotherapy treatment planning, has announced it raised €5.4 million to scale its service globally.
Apparently this is a ‘Post Seed funding round’ – which is either a PR trolling me hard or we are adding yet another ‘round’ to the ‘growing’ list.
“MVision AI has arguably built the world’s best AI models to support oncologists with automated segmentation for radiotherapy to treat cancer. Hence, saving hospital costs and reducing waiting time for patients in need. We’re excited to back Mahmudul and his team as they scale the company, soon helping patients in need around the globe,” says Luca Banderet, Partner at J12 Ventures.
Founded by Mahmudul Hasan, Jarkko Niemelä and Saad Ullah Akram in 2017, MVision AI uses artificial intelligence to automate cancer treatment with an AI-powered automatic segmentation tool that helps to standardise contouring and automate segmentation to streamline the radiotherapy treatment planning workflow.
This has had a significant impact on patient wait times claiming the automation makes same day treatment possible.
“The burden of cancer is growing for patients, hospitals, and carers. Our cloud-based AI-powered technology provides faster and more reliable clinical decision-making for cancer patients undergoing radiotherapy treatment. With our automation, we can speed up the entire treatment planning process while still delivering high-quality care,” says Mahmudul Hasan, CEO MVision.
To date more than 100,000 patients have been treated with MVision technology. Funding will be used to develop new solutions to speed treatment and build a globally scalable platform.
“We were impressed by the number of patients that have already been successfully treated with the help of MVision AI technology. Automating treatment processes enables faster care and more time to focus on patient care and human interactions that technology cannot replace,” says Pontus Stråhlman, Partner at Voima Ventures.