InferVision, a medical artificial intelligence (AI) provider specialising in the clinical application of AI and deep learning technologies announced the completion of its Series D2 financing led by Goldman Sachs Asset Management. The company has raised around $140 million in total from Series D1 and D2 financing. The proceeds will be used for R&D, distribution channels expansion and business development.
Through AI-powered detection and triage systems, InferVision is focused on empowering clinicians with higher efficiency in disease prevention and control, while serving patients with more thorough diagnoses at lower costs. Using AI and deep learning technologies, InferVision is developing platforms including AI application management and data mining & research. Since its establishment in 2016, InferVision has received investments of over $210 million from leading investors, including Sequoia Capital, Qiming Venture Partners, CDH Investments, CCB Trust and Springhill Fund.
“While healthcare has undergone significant evolution, the application of AI technologies to accelerate medical diagnosis stands out as one of the most compelling opportunities to benefit and innovate for a large addressable market in the future,” said Xinyi Feng, a managing director in Goldman Sachs Asset Management. “We look forward to helping InferVision achieve this dynamic vision that could have a profound impact on healthcare.”
“We are excited to have a proven, global investor like Goldman Sachs lead this latest round of financing. We view the collaboration with them as recognition of our capabilities in developing advanced AI solutions in healthcare,” said CK, Founder and Chairman of InferVision. “Our company aims to utilise rapidly evolving technology to bring about a significant improvement in medical services.”
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InferVision’s AI solution is accelerating pneumonia diagnosis and epidemic monitoring efforts. During the current pandemic, InferVision launched its revolutionary InferRead Pneumonia COVID-19 screening system in hospitals and medical institutions globally. The success of the product has convinced the European Union (EU) to collectively procure the screening system in over nine countries across the EU.
Meanwhile, the company’s other product, InferRead DR Chest, combined with hand-held DR machines was also selected in May this year to the Global Drug Facility (GDF) Product Catalog of the Stop TB Partnership, which was hosted by the United Nations Office for Project Services (UNOPS) and it was the first time that an AI solution was adopted to the product catalogue for combating tuberculosis (TB).
At present, InferVision has certification and clearances from National Medical Products Administration（NMPA）in China, CE certification in the EU, Pharmaceuticals and Medical Devices Agency (PMDA) in Japan, and Food and Drug Administration (FDA) in the United States.
As of July 2021, InferVision has sites throughout North America, the Asia-Pacific and Europe in over twenty countries worldwide.
