Australian healthcare startup Harrison.ai raises A$129M

December 02, 2021 01:21 PM AEDT | By Priyanka Payal

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Australian healthcare startup Harrison.ai raises A$129M — Image source: Pexels

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Highlights

Australian Healthcare startup Harrison.ai successfully raises AU$129 million to accelerate in one of the Country’s largest-ever Series B funding rounds.

ai has also announced a fresh partnership with Sonic Healthcare (ASX:SHL) to co-develop and commercialise new clinical AI solutions in pathology.

The two businesses have partnered to co-develop and commercialise new clinical AI solutions in pathology.

Australian Health care startup Harrison.ai announced on Wednesday that it has secured AU$129 million in one of the Country’s largest-ever Series B funding rounds led by existing investor Horizons Venture. The funds will be used by the Company to accelerate its growth ambitions.

The successful capital raise was backed by Sonic Healthcare (ASX:SHL), Blackbird Ventures, and Skip Capital, with new equity investors I-MED Radiology Network and Sonic Healthcare chipping in.

The funding round will scale global healthcare system capacity by rapidly commercialising clinical AI applications, rapidly expanding the Medtech startup’s 250-plus team comprising AI data scientists and engineers. The AI-based healthcare Company has also announced a fresh partnership with Sonic Healthcare (ASX:SHL) to co-develop and commercialise new clinical AI solutions in pathology.

Worldwide, pathology is under tremendous pressure as the sector faces an acute shortage of skilled staff, with the number of US pathologists declining by 18% between 2007 and 2017 despite the workload increasing. Building detailed and elaborative AI solutions for pathology will help escalate the capacity of diagnostic care globally.

About Harrison.ai

The Sydney-based healthcare artificial intelligence (AI) company was co-founded by Solina Chau and Debbie Chang in 2005. It has already developed clinical AI solutions in imaging and in-vitro fertilisation (IVF) that impacts over 50,000 patients every month.

Developed countries such as the UK and the United States face a massive crisis of skilled radiologists as well as clinicians, with more professionals required to meet the growing demand for diagnosis. Reportedly, the US has roughly 11 radiologists per 100,000 people against just 0.35 radiologists per 100,000 people in Kenya.

This growing demand for fair, accurate and efficient healthcare delivery needs complementary systems like AI to provide human-aided diagnosis and help narrow down this gap.

In such a situation, Harrison.ai‘s collaboration with Sonic Healthcare in developing and commercialising new solutions in pathology will help scale the capacity of diagnostic care across the world.

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