Finnish startup MVision AI raises €5.4M to automate cancer treatment

Helsinki-based medtech startup MVision AI has raised €5.4 million in post-seed funding to employ AI in automating and speeding up cancer treatment. The round was led by Swedish fund J12 Ventures, with participation from Finnish fund Voima Ventures, Tech Funding News informs.

• Founded in 2017 by Jarkko Niemelä, Mahmudul Hasan, and Saad Ullah Akram, MVision AI is a company that develops a SaaS-based AI-powered solution for radiotherapy cancer treatment. It eliminates manual work and reduces waiting times significantly from weeks to one day, enabling same-day treatment.
• The company has a team of 30 dedicated professionals with extensive backgrounds in the medical industry and AI research. This allowed the solution to help over 100,000 cancer patients in 14 countries, enabling standardized care globally.

“We were impressed by the number of patients that have already been successfully treated with the help of MVision AI technology. Automating treatment processes enables faster care and more time to focus on patient care and human interactions that technology cannot replace,”

Pontus Stråhlman, Partner at Voima Ventures, comments.

• Stockholm-based early-stage VC fund J12 Ventures is the lead investor in MVision AI. Voima Ventures also participated in the round. It is a Helsinki-based VC fund investing in deeptech startups at pre-seed to Series B stages. The fund has invested in a total of over 30 startups, including QuantrolOx, Nucu, and Cellfion.
• The fresh round will be used for research and development of new tech solutions, as well as for building a globally scalable cloud-based platform for cancer treatment.