17 Million for Cancer diagnoses of The Future – EIT Health Headstart Winner 2018 inveox gets new Funding
inveox continues to grow. With the largest investment to date of 17 million euros, the Munich-based start-up and intends to start series production of its AI-supported laboratory automation and make cancer diagnoses even faster and more reliable in the future.
It all started with one idea: to help people and significantly improve the reliability of cancer diagnoses. Digitisation, automation and artificial intelligence should therefore also find their way into pathology laboratories in order to enable faster and safer examination of cancer-suspicious tissue samples. Four business angels believed in the vision of the two founders and supported it with an investment of 1 million euros in 2017. In the summer of 2018, at the same time as winning the regional Headstart Award of the German CLC, a growth investment of 5 million euros was made by the same investors. For co-founder and managing director Dominik Sievert, the latest investment means more than just financial support: “The investors believe in us because inveox has shown an unprecedentedly strong development within a short time. They believe in our products, our management and our vision, and above all they offer us invaluable added value beyond the investment: mentoring”.
“My co-founder Dominik Sievert and I are very grateful that our investors have placed so much trust in us and our vision. Together, we pursue the goal of using our innovative strength to develop a technology and put it at the service of people: for those who give their best in the laboratory every day and for patients, for their safety and for the well-being of the patients. Therefore we will use the further investment for our forthcoming series production and the expansion into further markets”, says Managing Director Maria Sievert.
The IoT/SaaS complete system, consisting of a vending machine, intelligent sample containers and AI-supported software, is currently being implemented at several customers in the DACH region, including renowned university hospitals. The introduction in further markets within and outside Europe is planned for the second half of the year.
inveox GmbH, founded in Munich in 2017, develops systems for the digitization, automation and networking of pathology laboratories. The aim is to increase the safety and reliability of cancer diagnoses, at the same time increasing the efficiency and profitability of laboratories and tapping the potential for personalized diagnostics based on big data and artificial intelligence.
inveox is not only an integral part of the EIT Health Community, but has also won numerous awards since its inception. Inveox participates in several innovation support programs of well-known companies, such as “Digital Health” (Roche Diagnostics/ Plug&Play) and the upcoming Texas Medical Center Accelerator 2019 in Houston, Texas. In the year it was founded, inveox was named “StartUp of the Year 2017” by Für-Gründer magazine, was included in Forbes’ list of “Most Promising Start-ups 2018” and was one of the finalists of the German Innovation Award 2019. inveox opened a subsidiary in Krakow (Poland) at the end of 2018 and became a member of the World Economic Forum in 2019.
For more information please visit the website of inveox