AI Diagnostics Company IDx Secures $33M in Funding

IDxIDx, a Coraville, Iowa-based AI diagnostic company that develops clinically-aligned autonomous algorithms to identify disease from medical images, raised $33m in funding.

The round was led by 8VC with participation from Optum Ventures, Alpha Edison and Heritage Provider Network.

The company intends to use the funds to accelerate market adoption and further develop additional diagnostic systems for its AI platform.

IDx has developed an FDA-cleared autonomous AI diagnostic system to detect diabetic retinopathy without requiring a clinician to interpret the image or results. This enables health care providers who are not normally involved in eye care to use the AI system to test for this leading cause of blindness during routine office visits.
In June, the solution was initiated into clinical practice at University of Iowa Health Care, marking the first time patients have received a medical diagnosis from an autonomous AI system in the United States. The company is currently working on implementations at several additional healthcare systems who plan to go live with IDx-DR in 2018.

IDx is developing additional AI-based diagnostic systems for the detection of macular degeneration, glaucoma, Alzheimer’s disease, cardiovascular disease, and stroke risk.



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