Fundraising aims
The primary aim of this funding round was to develop and improve Gleamer’s AI solutions, making the technology indispensable for interpreting every radiology examination. The business plans to use these funds to:
- Fast-track the development of new products: Gleamer aims to expand its range of AI solutions to cover more conditions and types of radiology examinations.
- Strengthen its international presence: The startup plans to expand into new markets, particularly in the United States and Asia, where demand for AI solutions in radiology is growing rapidly.
- Increase its research and development capabilities: A portion of the funds will be dedicated to innovation and the continuous improvement of Gleamer’s AI algorithms.
Takeover of two startups
In addition to its €27 million fundraising, Gleamer recently acquired two startups specializing in medical imaging (Pixyl & Caerus Medical). These takeovers will enable Gleamer to reinforce its expertise and fast-track the development of its AI solutions.
Impact on the radiology sector
This funding secured by Gleamer is a significant milestone for the radiology industry. By integrating AI into routine practices, radiologists will be able to offer more accurate and faster diagnoses, which will improve the quality of patient care. Furthermore, AI will reduce diagnostic errors and optimize workflows in radiology departments.
Christian Allouche, Co-founder and CEO of Gleamer, said: “Within three years, we want to cover all types of radiology, including X-rays, mammograms, CT and MRI scans.” He added: “By acquiring these two startups, we’ve gained years and years of expertise.”
AI in radiology market statistics
AI in the medical imaging market was valued at over US$1.38 billion in 2022. Due to high investment in research and development in medical imaging, the industry is expected to grow by over 30.5% annually between 2023 and 2032. Furthermore, the size of the AI in radiology market was estimated at US$3.91 billion in 2023 and is expected to reach US$11.7 billion by 2032. With this €27 million funding round, Gleamer is positioning itself as a key player in the field of AI-driven radiology. The firm is well on its way to transforming radiology practices and making AI a key part of this sector.