Netherlands-based medical imaging technology developer Aidence has raised €10m ($11.3m) in a series A round co-led by Rabo Ventures, a private equity fund of financial services firm Rabobank.
Venture capital firm Inkef Capital also co-led the round that included participation from venture capital fund Northzone and VC firms HenQ and Health Innovations.
Founded in 2015, Aidence has created a platform that connects to existing imaging infrastructure and uses artificial intelligence technology to help radiologists detect changes in pulmonary nodules, small growths in the lung that can be cancerous.
The device is called Veye Chest and can reduce the time it takes to diagnose and treat lung cancer patients by revealing the location, volume and changes in the detected nodules.
Proceeds will help support the company’s move towards the US through FDA clearance and will be used to expand its research and development team.
In 2017, Aidence raised $2.5m in seed funding from Northzone, HenQ, Health Innovation and medical specialists of the Haaglanden hospital group.