Oxpit, a Lithuanian AI medical imaging company, raised $4.9M in funding.
Backers included Taiwania Capital, Practica Capital and Coinvest Capital, and angel investors.
The company intends to use the funds to advance its development of autonomous AI medical imaging applications and support market expansion into new geographic regions, with particular focus on the United Kingdom.
Led by CEO Gediminas Peksys, Oxpit develops AI applications for diagnostic medical imaging. Its ChestLink autonomously reports on medical images without any pathologies. The software can reduce the workload of radiologists in the primary care setting. Another product is Oxipit Quality, which acts as a virtual radiologist assistant. The application reviews every medical image and the corresponding radiologist report. If it detects any findings missed in the report, it will instantly notify the radiologist to take another look. Oxipit Quality acts like a real-time safeguard against diagnostic mistakes. It is already available in European markets and Australia. In December it was certified for use in Brazil. The company plans to file for US FDA certification in 2023.
In April 2022, the company received CE Class IIb certification for the ChestLink autonomous imaging software which allows the company to deploy the software in 32 European markets.
FinSMEs
23/01/2023