Japan-based pathology software developer Medmain has secured ¥1.1bn ($10.3m) from investors including care provider Fukuoka Wajiro Hospital Group and subsidiaries of telecommunications and internet group SoftBank and electric utility Kyushu Power.
IHW Group, Hike Ventures, Innovations and Future Creation and unnamed angel investors also took part in the round. SoftBank invested through artificial intelligence fund Deepcore while Kyushu Power participated through its QTnet and Dogan Beta subsidiaries.
Founded in 2018, Medmain has developed a system called PidPort which uses AI technology to screen tissue and cells in pathological tests, allowing images of them to be studied in close detail. Pathological data can also be securely stored on its cloud software platform.
The company works with more than 50 Japanese medical institutions including Kyushu University’s medical school and teaching hospital.
PidPort was launched in February this year, and the funding will go to product development and hiring as Medmain prepares to expand internationally. Deepcore and Dogan Beta had previously provided approximately $900,000 in funding for the company in August 2018.
A version of this article first appeared on our sister site, Global University Venturing.