HomeFinland-StartupsHelsinki-based MVision AI raises €5.4 million to speed up cancer treatment

Helsinki-based MVision AI raises €5.4 million to speed up cancer treatment

Finnish startup MVision AI has a vision where cancer treatment is accessible in a matter of hours, not weeks. The healthtech team uses AI to supercharge treatment planning and has just secured €5.4 million to scale.

Cancer is a disease which touches millions around the world every single day. Currently, the predominant treatment course is radiotherapy – it’s estimated that the number of patients treated with radiotherapy will grow to 29 million by 2040. Whilst radiotherapy is the treatment of choice, patients find themselves waiting weeks for treatment to start as healthcare systems are overburdened and planning processes inefficient.

When it comes to cancer, the speed of treatment can make all the difference.

Founded in 2017 in Helsinki, MVision AI has developed an AI-based solution to change that outlook, offering same-day treatment planning software. The startup has just secured €5.4 million in post-seed financing from J12 Ventures and Voima Ventures.

Developed by Mahmudul Hasan, Jarkko Niemelä and Saad Ullah Akram, MVision AI provides a cloud-based SaaS solution for radiotherapy treatment planning. The tool automates cancer treatment with AI-powered automatic segmentation that helps to standardize contouring and streamline the planning workflow.

Founder and CEO Mahmudul Hasan: “The burden of cancer is growing for patients, hospitals, and carers. Our cloud-based AI-powered technology provides faster and more reliable clinical decision-making for cancer patients undergoing radiotherapy treatment. With our automation, we can speed up the entire treatment planning process while still delivering high-quality care.”

With manual treatment planning, patients often have to wait 2-3 weeks before beginning treatment. However, with MVision AI’s automation, the aim is to enable same-day treatment.

Mahmudul Hasan: “We are making same-day treatment a standard in cancer treatment globally.”

So far, the healthtech innovation has been used to treat more than 100k patients in 14 countries around the world, including Finland, Sweden, Spain, France, the UK and the USA.

Chihray Liu, PhD, DABR, FAAPM Professor and Chief of Physics-Gainesville Department of Radiation Oncology, University of Florida: “We were immediately impressed by the quality and consistency of MVision’s AI auto-segmentation. It fits seamlessly and transparently into our workflow, saving many planners and physicians time. This AI-based auto-segmentation model covers the whole body – a hugely appreciated time saver for our busy clinical team.”

With this latest investment, the startup plans to develop new solutions to speed treatment and build a globally scalable cloud-based platform for cancer treatment.

Luca Banderet, Partner at J12 Ventures: “MVision AI has arguably built the world’s best AI models to support oncologists with automated segmentation for radiotherapy to treat cancer. Hence, saving hospital costs and reducing waiting time for patients in need. We’re excited to back Mahmudul and his team as they scale the company, soon helping patients in need around the globe.”

Pontus Stråhlman, Partner at Voima Ventures: “We were impressed by the number of patients that have already been successfully treated with the help of MVision AI technology. Automating treatment processes enables faster care and more time to focus on patient care and human interactions that technology cannot replace.”

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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