Onc.ai, a provider of an AI-powered physician-centered cancer care support platform for oncologists, announced the closing of its $25 million Series A funding round.
MassMutual and Action Potential Venture Capital (a GSK venture fund) led the investment round with participation from Life Extension Ventures and existing investors Blue Venture Fund, Accomplice, Digitalis Ventures, and KdT Ventures.
Commenting on the funding news announcement, Akshay Nanduri, Co-founder and CEO of Onc.ai, said: “This major financing will be allocated to achieving the necessary development and regulatory milestones preceding the commercialization of our first product in lung cancer. Proceeds will also be used to support our current and future research collaborations with global pharmaceutical leaders.”
Including the latest round, Onc.ai has raised $31 million in funding to date. Previously, in December 2020, the company raised $6 million in equity funding from investors, including Blue Venture Fund, Accomplice, KdT Ventures, and Digitalis Ventures.
“Onc.ai’s novel platform, which leverages radiomics and deep learning, has the potential to improve medical oncologist clinical decision-making and to advance pharma immuno-oncology research and clinical trials,” said Juan-Pablo Mas of Action Potential Venture Capital.
Digital cancer care startups
Digital cancer care startups have attracted $3 million in venture capital funding to date, according to our database.
The latest funding rounds in digital cancer care space include:
Perception Vision Medical Technologies (PVmed), a provider of AI-guided solutions that help doctors plan and treat cancers precisely, raised $14 million in Series A funding from Cherami Investment Group, Philips, JHF Investment, COCOCAPITAL Corporation, and Strategy Capital.
Aiosyn, a provider of an AI-powered cancer diagnostics and treatment platform for care providers, raised €2 million in funding led by Health Innovations with participation from Oost NL and LUMO Labs.
Fountain Life, an AI-powered precision cancer, heart disease, and dementia diagnostics and treatment platform, raised $15 raised in funding from Eos Venture Partners and Newcross Healthcare.
Ibex Medical Analytics, a provider of AI-powered cancer diagnostic solutions for pathologists, raised $10 million in debt funding led by Kreos Capital, a growth debt capital provider.
OncoPrecision, an AI-powred precision cancer treatment platform for doctors, raised $3.3 million in seed funding from SOSV’s IndieBio, GRIDX, New York Ventures, Creative Ventures, and Fundación Para el Progreso de la Medicina.
Gabbi, a digital cancer care startup that is on a mission to eradicate late-stage breast cancer by ensuring all women know their risks and have access to early detection, raised $4.4 million in funding. Bread and Butter Ventures led the investment round with participation from Female Founders Fund, WR Hambrecht, Phoenix Rising, Claridge Ventures Advisors VC, Coyote Ventures, Gaingels, and prominent angels including, David Kidder, Sarah Jones Simmer, and Naseem Sayani.