Vilnius, Lithuania-based Oxipit, a computer vision software startup specialising in medical imaging, announced on Thursday, January 19, that it has raised $4.9M (approximately €4.4M) in a round of funding led by Taiwania Capital, Practica Capital, and Coinvest Capital. Many angel investors also participated in the round.
Oxipit says it will use the funds to advance its autonomous AI medical imaging applications and accelerate market expansion into new regions, focusing on the United Kingdom.
“2022 was a breakthrough year for the Oxipit team. In spring, we introduced ChestLink – the first fully autonomous AI medical imaging application, which produces patient reports without any radiologist oversight. For a long time, the tech world predicted AI to take over the diagnostics of certain pathologies. This year ChestLink made the first inroads into the future of diagnostic medicine,” says CEO of Oxipit, Gediminas Peksys.
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Oxipit: What you need to know
Founded by Gediminas Peksys and Darius Barušauskas, Oxipit develops AI applications for diagnostic medical imaging. The company has so far developed two products – ChestLink and Oxipit Quality.
The Lithuanian company claims ChestLink is the first fully autonomous AI medical imaging product with a CE mark. It helps identify CXRs (Chest X-Rays) with no abnormality and produces finalised patient reports without any intervention from the radiologist.
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