Amsterdam-based medtech startup Aidence raises €10 million to better detect lung cancer

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Lung cancer is one of the most common cancers worldwide, and early detection is vital to surviving it. Amsterdam-based medical imaging startup Aidence has developed an AI-enabled pulmonary nodule management assistant, Veye Chest, which enables radiologists to more easily track changes in pulmonary nodules and detect lung cancer. The technology has already been installed in more than 10 hospitals in the Netherlands, the United Kingdom and Scandinavia and processes hundreds of images every week.

Founded in 2015 by Mark-Jan Harte and Jeroen van Duffelen, Aidence has just completed a €10 million Series A funding round. The investment was led by INKEF Capital along with Rabo Ventures, with participation from existing investors Northzone, HenQ and Health Innovations, bringing Aidence’s total funding to €12.5 million.

Last year Aidence was selected for SBRI Healthcare, an NHS innovation initiative, after their health economics team recognised Veye Chest’s potential to provide relief to radiologists’ large workload, and improve the detection of lung cancer.

“Since day one, we have been determined to deliver a tangible clinical AI solution that can be used by healthcare professionals to help their patients,” the company said in a statement. “We welcome INKEF and Rabo Ventures on our journey as we strive to shape the future of the medical imaging industry. With this funding we will continue building our European market expansion while also building towards FDA clearance giving us access to the US healthcare market. This investment will allow our research and development team to expand and explore new avenues for the Veye platform to support our radiologist AI pioneers and the patients they care for.”