Botkin.AI raises $2M to further develop its medical AI platform
Intellogic LLC, raised 160M rubles (ca $2M) in its Series B investment round to further develop its artificial intelligence platform for the analysis of medical images, Botkin.AI.
The round was led by Unicorn Capital Partners, a venture fund focused on investment in innovative drugs, medical devices, and medical software. Tashir MEDICA, an investment holding focused on financing and strategic development of healthcare assets, acted as a co-investor in the round. Current investors, including RBV Capital, Digital Evolution Ventures (managed by Orbita Capital Partners), Primer Capital and ExpoCapital, also participated in the round.
The Botkin.AI platform analyzes and determines pathologies in diagnostic medical images including computer tomography, X-ray, and mammography. The platform employs a proprietary patented technology that allows to create mathematical models of the patient using artificial intelligence. It is being used commercially by radiologists in a number of regions in Russia and several pilot projects internationally.
The Series B investment will be deployed for further development and scaling up of the platform, expanding commercial sales in Russia and entering the global market.
Sergey Sorokin, CEO and founder of Intellogic, says:
«Our company has now reached the next level in its development. Our technology enables us to build the platform as a comprehensive first-in-class product for analyzing medical images. The financing and the newly joining investors will help us to not only strengthen our leading position in the Russian market, but also to emerge as a significant player globally».
Maxim Gorbachev, Managing Partner at Unicorn Capital Partners, comments:
«The coronavirus pandemic has spurred the already high interest in AI technologies in healthcare and created new opportunities for a successful commercial rollout of Botkin.AI in clinical practice. Intellogic combines a professional team, world-class technologies and top-notch investors, which made it an attractive investment opportunity».
Arsen Galstyan, Managing Partner at Tashir MEDICA, says:
«We highly appreciate the potential of using artificial intelligence in healthcare, especially in functional diagnostics. Botkin.AI’s solution has excellent prospects for scaling up in both the local and the global market».
Intellogic is supported by its Scientific and Medical Advisory Board, which is headed by Prof. Valentin Sinitsyn, MD, PhD, President of the Russian Society of Radiology, ex-president of the European Congress of Radiology, lead professor of radiological diagnostics at the Faculty of fundamental medicine of Moscow State University.