Rotterdam-based AI startup Quantib has raised 4.5 million euro in a round led by Holland Venture and InnovationQuarter. Quantib develops machine learning medical imaging applications that allow physicians and researchers to make more accurate diagnoses more efficiently. The investment allows the starup to bring new ML applications to the market and expand internationally.
Quantib, founded in 2012, is a spin-off of the Erasmus Medical Center. The applications developed by Quantib are powered by state-of-the-art machine learning and deep learning algorithms. These applications offers users advanced segmentation, classification and quantification capabilities of medical images.
Quantib develops the software in close collaboration with Tier-1 partners, such as Philips, GE Healthcare, Intrasense and the renowned Biomedical Imaging Group Rotterdam (BIGR). The company’s first product focuses on the detection and tracking of neurological disorders such as Parkinson, Multiple Sclerosis and Alzheimer’s disease. It received FDA approval and CE marking in 2016.
“Our software supports radiologists and neurologists with their objective assessment of MRI- and CT scans. Our deep learning algorithms can support better diagnoses, and a better assessment of treatments’ effectiveness”, says Rudolf Scholte, CEO of Quantib in an announcement about the funding. “Up until now, our main focus was on brain disorders. This investment allows us to develop new products and to extend our team.”
The new product areas Scholte refers to are products that help healthcare professionals to get at better understanding of lung disorders, oncology, bone structures and strokes.
“Quantib’s applications help standardise and speed up image analysis and allows for the detection of subtle changes over time. It increases the objectivity of the diagnostic process and therefore delivers an improved diagnosis combined with a more efficient processes, positively impacting a large group of patients, says Ewout Prins, Managing Partner Holland Venture.
“We see large international growth opportunities for the company and we are proud to be a part of this development.”
Francis Quint, Head InnovationQuarter Capital: “Quantib facilitates faster, better and more efficient diagnoses, a fantastic result from the close collaboration with Erasmus MC. We are happy to support this Rotterdam-based company with their ambition to extend the range of their current technology to other applications.”
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