We assisted medical imaging startup Oxipit in raising EUR 1.5 million in a seed round, co-led by Practica Capital, Koinvesticinis fondas and angel investors. The round marks the largest investment for medical AI solutions in the Baltic states. It is also one of the largest seed rounds among Baltic startups.
Bringing AI solutions to everyday clinical practice
Oxipit is developing the ChestEye, AI-powered radiology software suite. Automated AI-based diagnosis and reporting by ChestEye enables radiologists to improve productivity, reduce the error-rate, discover overlooked secondary findings and address the shortage and ever-increasing workload of radiology specialists. In February 2019 ChestEye software received CE certification, paving the way for clinical solution deployment in 32 European markets.
Notes Oxipit CEO Gediminas Pekšys: “ChestEye aims to improve the quality of service for patients by addressing the shortage of radiology specialists in developed markets. Currently the patient wait time for an X-ray doctor‘s report can take days, even weeks. Our trials showed that by harnessing AI diagnostic capabilities, ChestEye can save 30% time per patient and reduce the error-rate”.
Our services and project team
Our team, consisting of partner Mantas Petkevičius, senior associate Vytautas Sabalys and associate Laura Matuizaitė, assisted the client throughout the transaction.