Sat. Jan 22nd, 2022 Founders Founders Dimitry Tran, Dr.  Colin Goldschmidt and Dr.  Aengus Tran Founders Founders Dimitry Tran, Dr. Colin Goldschmidt and Dr. Aengus Tran Photo by Stefanie Zingsheim / The Photo Pitch, a Sydney-based company that manufactures medical devices with AI technology, announced today that it has raised $ 129 million AUD (approximately $ 92.3 million USD) in what it says is one of the biggest Series B rounds ever for an Australian startup.

The financing was led by the returning investor Horizons Ventures and included the participation of new investors Sonic Healthcare and I-MED Radiology Network. Existing supporters Blackbird Ventures and Skip Capital also returned to the round, bringing’s total raised over the past two years to $ 158 million AUD. announced that it has also formed a joint venture with Sonic Healthcare, one of the world’s largest medical diagnostic providers, to develop and commercialize new clinical AI solutions in the field of pathology. The partnership will first focus on histopathology or diagnosis of tissue diseases.

This follows another joint venture, formed with I-MED Radiology in early 2020, and created to develop AI-based radiological diagnostic support tools. CEO Dr. Aengus Tran told TechCrunch that he became a doctor to help as many people as he could. “When I looked more at artificial intelligence, I fell in love with the idea of ​​using artificial intelligence to help more people than I ever could in my life.” was started together with its brother Dimitry to scale the global capacity for healthcare quality by providing clinicians with AI-based tools. Dr. Tran said was able to release its first regulatory-approved product within 18 months, an artificial intelligence tool that detects clinical findings on chest x-rays.

The funding will also be used to hire more AI computer scientists and engineers and form clinical partnerships around the world to expand into new areas of healthcare. says its AI-based technology can help improve the diagnostic process in places where there is a shortage of healthcare.

“COVID has reinforced the inequalities and struggles that the global health system was already under, especially in critical areas such as radiology and pathology,” said Dr. Tran. “In the last decade and more, we have seen a critical shortage of radiologists in both developed and developing markets, and it has only gotten worse as COVID led to a further shortage of skills and a backlog of optional procedures and requirements.”

He added that’s AI-based technology is designed to help scale healthcare systems and is not intended to replace clinicians. “We give them the tools to make critical health care decisions quickly and on a large scale using artificial intelligence.” currently has teams in Australia, the UK and Vietnam, and plans to expand to other countries soon. Its products are ready for market in Australia, UK, Europe and some Asian countries, said Dr. Tran. The company’s goal is to expand into other markets with the goal of helping one million patients a day.

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