AiCure raises $24.5M in its Series C round accounting to total funding of $52M.
FREMONT, CA: An NYC-based AI-driven, healthcare platform, AiCure raises a total fund of US $24.5 million in the Series C round funding. With Palisades Growth Capital (PGC) leading the round, other VCs such as Singtel Innov8, Asahi Kasei Corporation, Accelmed Growth Partners and SpringRock Ventures, Baird Capital, New Leaf Venture Partners, Pritzker Group, Biomatics Capital, Tribeca Venture Partners, and Silicon Valley Bank (SVB).
The funds accumulated will be utilized to kickstart business activities. From its conception in 2010, AiCure uses AI to observe, record, and understand the way people react to the treatment through various clinical trials and patient care. The company's technologies are clinically proven to quantify and modify patient behavior; it keeps them engaged and occupied. AiCure has more than 100 registered patents until now and operates with clients from over 25 countries around the world.
AiCure's IMA or Interactive Medical Assistant has the potential to collect visual and audio data from the patients to evaluate the effectiveness and engagement of the treatment program. It acts like a safety net that identifies patients who are subjected to a higher risk of dropout or non-adherence. The data generated can help healthcare providers to obtain unobstructed views of the targets and modify the treatment accordingly, drug developers can use the data to classify the underperforming trial sites and identify the different reactions.
Despite being a young company launched in 2010, AiCure has not sought the support of venture capital until its $12.25 million Series A in 2016 without using the $7 million grant from the National Institutes of Health. The latest funding round aggregates the fund to a total value of nearly $52 million.
The AI company stated in an announcement that the funds would support and accelerate commercial engineering, along with research and development activities to improve the research-grade data insights for life science enterprises.