GLEAMER Raises € 7.5 Million to Market AI Platform

By News Release

GLEAMER, a French med-tech company that develops an AI software platform to help radiologist diagnoses, has secured € 7.5 million in a Series A round. The round is led by XAnge, alongside new investors MACSF, Majycc eSanté Invest and Crista Galli Ventures, as well as previous investors Elaia and the state-run fund Ambition Amorçage Angels (F3A), which is managed by Bpifrance as part of its Investments for the Future Program (PIA).

In addition, 37 radiologists, including Professor Nicolas Theumann, participated in this round, which is expected to boost the market launches of BoneView, the first A.I. application in the company's software line, in Europe, the Middle East, Asia and Latin America. The funds raised will also be used to obtain the Food and Drug Administration (FDA) clearance to market BoneView in the U.S. and to keep developing GLEAMER's A.I. product line in other areas of radiology.

"GLEAMER exemplifies our investment guiding principle: making the most advanced technologies available to as many people as possible, in this case by using A.I. to help radiologists diagnose all of us patients," says Guillaume Meulle, Managing Partner of XAnge.

"We are pleased to invest in GLEAMER, alongside healthcare professionals and specialized funds that, like us, believe in A.I.'s ability to help radiologists in their daily diagnosis. GLEAMER's management team has built a solid reputation with health authorities and the medical community in the French market, which makes us confident its software platform will be adopted widely and quickly," says Stanislas Subra, Manager of Venture Capital Investments at MACSF Group.

Today, the world's emergency radiology market is worth 12 billion euros (Source: GLEAMER). The need for medical imaging has vastly increased, with more than 400 million medical images produced every year for traumatic injuries worldwide. It is the most common medical examination in emergency rooms, including in France, where 11 million medical images are produced every year for traumatic injuries (Estimates from: https://www.ccomptes.fr/fr/publications/limagerie-medicale). GLEAMER supports radiologists by providing them with an A.I. software that produces semi-automated diagnosis of traumatic injuries from medical images.

"This funding round will allow us to move forward with launching our existing software around the world and further developing our product line. Our plan is to become the partner of choice of radiologists with our A.I. software platform, which will cover all standard radiographic procedures. By providing them with semi-automated, reliable and rapid diagnosis, we enable them to improve the quality of care and their productivity," says Christian Allouche, co-founder of GLEAMER.

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GLEAMER Raises € 7.5 Million to Market AI Platform .  Appl Radiol. 

By News Release| September 24, 2020

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