Incepto, an AI solutions platform applied to medical imaging, announced on September 19 that it had raised €27 million in a round of financing led by LBO France, with the participation of Wille Finance and its historical investors AXA Venture Partners (AVP), the Patient Autonomy fund of Bpifrance and Karista. This investment will enable the start-up to accelerate its development in Europe, starting with Germany, Spain, Italy and Portugal where it will launch its offer. The start-up, which claims to be “the Netflix of medical imaging”, aims to treat one million patients in Europe per month by 2024.
Founded in January 2018, co-founded by Antoine Jomier, Gaspard d’Assignies, a radiologist, and Florence Moreau, an engineer and CTO, Incepto was a winner of the 2019 Let’s Go France Trophies, the i-Lab Innovation Competition operated by Bpifrance, and the Innovation Competition at the 2018 Journées Francophones de Radiologie.
In 2019, it raised €5.6 million to accelerate the deployment of its solutions on a large scale throughout France. It is now targeting the European market, notably with the creation of four subsidiaries in Germany, Spain, Italy and Portugal thus anchoring its position as the European leader in the sector.
From French start-up to European scale-up
At the same time as announcing this second round of financing, Incepto announced the signing of five new partnerships (IB Lab, Milvue, PAIRE, SmartSoft and Thirona) to expand its range of medical imaging applications for emergency care, oncology, orthopedics, rheumatology and pneumology.
Expanding its geographic coverage while developing its portfolio of applications will enable Incepto to meet major public health challenges: reducing waiting times for examinations, compensating for the lack of specialists for certain serious diseases, and supporting physicians’ work in the face of the increasing amount of data to be analyzed, thus improving patient care in various care channels, notably in emergency rooms, cancerology, cardiology, and neurodegenerative diseases.
Increasing the productivity and efficiency of radiologists
The platform has made a significant contribution to the deployment of AI applications for medical imaging, with 100,000 patients benefiting from them every month. Today, Incepto works with more than 150 clients and reference radiology sites in France and Europe, including some 20 leading hospitals and teaching hospitals (AP-HP, Grenoble, Montpellier, Nancy, Poitiers, Rennes, etc.), as well as private networks such as France Imagerie Territoires, the 3R group, Elsan, Telediag, and Affidea, the most recent partnership signed.
Faced with the explosion of the AI market in Europe, driven by the multiplication of medical imaging applications and by technological improvements that make them now usable in clinical routine by physicians, Incepto has set three strategic objectives:
- Select and make available the most efficient AI solutions in medical imaging for each specialty, guaranteeing high quality standards;
- Create, alongside physicians, new applications that meet real needs but do not yet exist: ARVA and KEROS are the first products co-developed by Incepto to help diagnose aortic aneurysms in CT scanners and for MRI of the knee;
- Supporting the transformation of organizations and working methods by rethinking patient care with medical teams to exploit the full potential of AI technologies.
Antoine Jomier, co-founder and president of Incepto, concludes:
“In 2018, we had identified the need for a platform to accelerate the use of AI in the healthcare sector, particularly in the fast-growing field of imaging. In four years, we have participated in the emergence of a true disruptive technology and today our integrated solutions are used in all regions of France and benefit 100,000 patients every month. Our deeply European values, such as respect for data confidentiality, transparency and fair value sharing between stakeholders, are major assets for our development on the continent. We are proud to have convinced a number of well-informed investors to accompany us in our growth on a European scale. By 2024, one million patients in Europe will benefit from our artificial intelligence applications every month.