Brain imaging AI vendor Icometrix raises $18M

Icometrix, an international developer of AI-based brain imaging solutions, has raised $18 million in funding through a partnership with Forestay Capital, Optum Ventures and Capricorn Venture Partners.

The announcement comes as the company’s AI solutions, including its FDA-approved icobrain software for extracting data from imaging results, are being used in more than 100 hospitals and imaging centers throughout the world.

“With icobrain, medical images can be read faster, more consistently and in a more personalized fashion by quantifying the volume of brain structures and abnormalities,” Wim Van Hecke, Icometrix CEO, said in a prepared statement. “One in three people will suffer from a brain disorder, often due to a chronic disease, leading to an immense burden for patients, friends, families, caregivers and society. Brain scans play a central role in patient diagnosis and monitoring, creating a huge need for objective and patient-specific evaluation of MRI and CT brain scan images with tools like icobrain.”

“Forestay is delighted to partner with icometrix’s management and to help drive forward its growing success story,” Frederic Wohlwend, managing partner at Forestay Capital, said in the same statement. “This technology transforms the way we diagnose, monitor and treat people with brain disorders and we can see its immense potential to improve neurological diagnostics, making a complex process quicker and more effective for each individual patient.”