Ibex Medical Analytics Secures $55M in Series C Funding for AI-Powered Cancer Diagnostics

Company Name: Ibex Medical Analytics

Location: Tel Aviv, Israel

Business Focus: Advancing AI-powered cancer diagnostics.

Funding Details:

• Amount: $55M in Series C funding.
• Total Funding to Date: $100M since 2016.
• Lead Investor: 83North
• Other Participants: Sienna Venture Capital, Octopus Ventures, aMoon, Planven Entrepreneur Ventures, and Dell Technologies Capital.

Purpose: The company plans to use the funds to expand its U.S. presence to cater to the rising demand for AI-driven diagnostic solutions. Additionally, they aim to accelerate the expansion of their product range.

About Ibex Medical Analytics:

CEO: Joseph Mossel

Company's Offering: Ibex Medical Analytics provides clinical-grade AI solutions that enhance cancer diagnostics. Their flagship Galen suite of solutions is the first-ever AI tech used in everyday pathology. It aids pathologists and healthcare providers globally by improving diagnostic accuracy, implementing extensive quality control, reducing diagnostic delays, and enhancing productivity through streamlined workflows.

The Galen™ platform offers specific solutions which have received CE marking and registration with the UK MHRA. However, in the U.S., these solutions are designated for Research Use Only (RUO) and haven't received FDA clearance.

Founding Year: 2016