Radiology AI startup Better Medicine balloons fundraising to nearly $7M
Better Medicine—a radiology artificial intelligence startup based in the Eastern European country of Estonia—has ballooned its fundraising to nearly $7 million with an eye toward U.S. expansion.
Most recently, the company has raised $1.2 million in new funding led by Czech VC firm Soulmates Ventures and others. Founded in 2020, Better Medicine offers AI tools that integrate into radiologist workflows, helping physicians to detect oncological findings from CT scans.
The startup operates across six countries and plans to use the new funding to further expand in Europe, prepare for U.S. entry, and pursue new partnerships with payers and providers.
“By supporting radiologists and other specialists with reliable AI tools, they are helping improve patient outcomes while easing pressure on overloaded health systems,” Michal Sikyta, investment director at Soulmates Ventures, said in an announcement. “We’re excited to back an experienced team as they prepare to make a major impact in modern medicine.”
Others pitching in on the “pre-seed” funding round included Specialist VC, UT Ventures and several angel investors. This came after Better Medicine also scored a nearly $3 million grant from the European Innovation Council last year. The company also plans to use the money to expand its portfolio into additional organs and prepare for U.S. FDA clearance.
Better Medicine’s flagship product, BMVision Kidney, was recently certified in the EU. The AI model uses deep learning to detect malignant kidney lesions. In early studies, it achieved 96% standalone accuracy and a 99.2% detection rate when combined with radiologist assessment, the company claims. Companion tools offered include BM iMeasure, enabling semi-automated lesion measurements and structured reporting. Better Medicine also has inked partnerships with institutions including the Leeds Teaching Hospitals NHS Trust in the U.K. and Tartu University Hospital in Estonia.
“Radiologists are under immense pressure to maintain total focus on highly repetitive tasks that don’t necessarily require medical expertise but are still critical for diagnosis,” Founder and CEO Priit Salumaa said in the announcement. “Imagine a second set of eyes, but multiplied by 1,000, always alert and never tired. We are making early cancer detection easy and freeing doctors to avoid burnout and focus on what truly requires their judgment.”
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.