Deciphex, a leader in digital pathology solutions, has announced the successful close of its Series C funding round, raising €31 million($32.3 million). The round was led by Molten Ventures, with significant participation from ACT Venture Capital, Seroba, Charles River Laboratories, IRRS Investments, HBAN Medtech Syndicate, and Nextsteps Capital. This funding milestone positions Deciphex for accelerated global expansion and technological innovation in the digital pathology landscape.
Founded in 2017, Deciphex has established itself as a key player in pathology computer-aided diagnostics. The company’s AI-driven platforms, such as Patholytix, have been instrumental in enhancing pathology services for research, pharmaceutical, and biotech industries. These solutions are designed to streamline diagnostic workflows, reduce patient wait times, and improve overall healthcare outcomes.
“This investment accelerates our mission to transform global pathology access. Our ergonomic, AI-enabled platform enhances diagnostic workflow and accuracy—allowing experts to clear backlogs faster without compromising quality,” said Donal O’Shea, founder and CEO of Deciphex. “By expanding this technology worldwide, we’re not just improving healthcare efficiency; we’re supporting both the pathologists who drive diagnoses and the patients who depend on them.”
The Series C funding will enable Deciphex to enhance its core platforms and expand its reach in key markets, including the US, UK, EU, Canada, and Japan. The company aims to meet the growing demand for digital pathology services while strengthening strategic partnerships with industry leaders like Novartis and Charles River Laboratories.
Deciphex’s innovations are particularly critical in addressing the global shortage of pathologists and the increasing complexity of cases. By integrating artificial intelligence into diagnostic workflows, Deciphex empowers pathologists to handle higher volumes with greater efficiency, tackling one of healthcare’s most pressing challenges.
In recent years, Deciphex has gained traction in the research pathology sector, with major pharmaceutical companies and contract research organizations leveraging its technology to streamline processes. The company’s capabilities have been widely recognized for their potential to alleviate diagnostic bottlenecks and improve patient care.
“Deciphex is tackling one of healthcare’s most pressing issues,” said Inga Deakin, principal at Molten Ventures. “By supporting pathologists with AI tools that enhance efficiency without sacrificing accuracy, Deciphex offers a much-needed solution to the diagnostic burden facing pathologists around the world.”
This latest funding builds on Deciphex’s previous successes, including a €3.9 million addition to its Series B round two years ago, bringing the total for that round to €14.4 million. With its latest investment, Deciphex is poised to lead the global shift toward AI-enhanced digital pathology, transforming diagnostic efficiency and accuracy across the healthcare industry.
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