Aidence Secures €10M Series A Funding to Advance Veye Chest, Its AI-Powered Platform for Early Lung Cancer Detection with 90% Accuracy

VCBeat (WeChat ID: vcbeat) has learned that medical imaging startup Aidence recently completed a €10 million Series A financing round to promote its lung cancer detection platform, Veye Chest.

This funding round was led by Inkef Capital and Rabo Ventures, with participation from Northzone, HenQ, and Health Innovations.

“The funds will be used to further expand our existing European market and upgrade the Veye Chest platform,” said Mark-Jan Harte, Co-founder and CEO of Aidence. “Veye Chest has previously obtained CE marking, and this round of funding will help us secure FDA approval to enter the U.S. healthcare market.”

Aidence is a medical imaging startup headquartered in Amsterdam, the Netherlands, dedicated to identifying early-stage lung cancer in medical imaging through AI algorithms. Aidence collaborates closely with SBRI Healthcare in the UK, universities worldwide, and teams of specialized scientists to apply cutting-edge research findings to the field of medical imaging.

Lung cancer is one of the most common cancers worldwide and typically presents as pulmonary nodules on chest CT scans. However, conventional equipment cannot detect nodules smaller than 5 mm, and because these nodules resemble normal lung structures, the diagnostic process for physicians is arduous, time-consuming, and prone to error. The Veye Chest platform effectively addresses these limitations.

Veye Chest is an AI platform for medical image analysis that intuitively and accurately assists radiologists in detecting, reporting, and tracking changes in pulmonary nodules, with an accuracy rate of up to 90%. Additionally, it can automatically determine the volume doubling time and growth rate of cancer cells. Currently, the Veye Chest platform has been deployed in more than 10 hospitals across the Netherlands, the United Kingdom, and Scandinavia, where it supports hundreds of studies each week.

Dr. John Murchison, a consultant radiologist at NHS Lothian, stated: “The ability to detect early-stage lung cancer is crucial for patients. Compared with experienced radiologists, Veye Chest offers greater accuracy and requires less time than manual diagnosis, thereby enhancing the diagnostic capability of medical imaging for lung cancer.”

It is reported that from February 28 to March 3, Aidence will exhibit at the European Congress of Radiology (ECR) and present the latest clinical research findings on Veye Chest.

Inkef Capital is a venture capital firm headquartered in Amsterdam, the Netherlands, dedicated to investments in healthcare, enterprise software development, new media, life sciences, and digital health.

Rabo Ventures is a venture capital fund headquartered in Amsterdam, the Netherlands, focusing on investments in clean technology, renewable energy, and environmental sectors.

Northzone is a private equity and venture capital firm headquartered in Stockholm, Sweden, primarily providing financial support to sectors such as internet software and services, e-commerce, artificial intelligence, media, and cloud computing.

HenQ is a venture capital firm that primarily provides funding support to early-stage startups. The company focuses on sectors such as new media, the internet, clean technology, and wireless network equipment.

(Compiled by Feng Yutong)