Israeli digital microscopy company Scopio Labs has raised $16 million in a Series B funding round led by Tel Aviv-based firm Olive Tree Ventures, the company announced Tuesday.
Other participants in the round include Aurum Ventures, OurCrowd, and LR Group.
The round will enable Scopio Labs to expand commercial operations across human and veterinary care in the United States and Europe, by “ramping up manufacturing and sales, and further developing a robust clinical trial pipeline to broaden its portfolio of offerings,” the company said in a statement.
The closing of the funding round follows the company’s receipt of a CE mark certification for its X100 Full Field Peripheral Blood Smear (PBS) microscopy system. This is an all-in-one automated in-vitro hematology diagnostic platform that enables remote consultation and includes a computer-vision based decision support system.
A multi-center study in preparation for an FDA (US Food and Drug Administration) submission is being completed.
Founded in 2015, Scopio Labs’ platform automates the imaging of full microscopy samples into unique high-resolution digital scans using state-of-the-art computation photography techniques. The company has also built and integrated various AI and remote consultation solutions for large and small labs and hospitals to improve diagnostic processes and reduce turnaround time.
Earlier this year, the company launched ScopioVet, an end-to-end digital cytology solution for veterinary professionals.
“We are delighted by the additional investor support that reinforces our vision and dedication to advancing clinical and research fields into new arenas through microscopy, a cornerstone of science and medicine which has been held back from joining the digital revolution by the complexity of scanning samples easily and at such high resolution,” said Itai Hayut, CEO and co-founder at Scopio Labs.