Artificial intelligence (AI) software developer Optellum has received $14 million (15 million euros) in a series A funding round.
The financing round was led by lead investor Mercia, along with additional investors Intuitive Venture and Black Opal Ventures. Existing investors St. John's College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood also participated in the round, according to the vendor.
Optellum said it would use the funds to scale its base, operations, and commercial launches in the U.K. and U.S. for its lung health AI platform, as well as to invest further in research and development. In addition, the firm also plans to apply its technology to integrate imaging data with molecular data, robotics, and liquid biopsies in order to expand its platform into the domain of personalized therapy decisions.