PictorLabs has completed a $30m Series B funding round to accelerate its AI-powered virtual staining technology.
This investment will expand the company’s market reach and hasten the adoption of its technology in clinical and research settings.
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Global software investor Insight Partners led the Series B funding round, with continued support from M Ventures, the venture capital unit of Merck KGaA, Darmstadt, Germany.
The new funding will be instrumental in advancing PictorLabs’ technology, which is set to transform histopathology by making diagnostic processes faster and more accurate.
PictorLabs CEO Yair Rivenson said: “Securing this Series B funding is a testament to the transformative potential of our technology and the trust that our investors have in our vision.
“With the support of Insight Partners and M Ventures, we are well-positioned to scale our operations, expand our team, and bring our revolutionary virtual staining technology to more histopathology labs, ultimately improving patient outcomes across the globe.”
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By GlobalDataSpun off from the UCLA Colleges of Engineering and Medicine, PictorLabs is revolutionising the 150-year-old practice of histological staining, essential for researching and diagnosing infectious diseases, cancer and other pathological conditions.
Traditional staining methods, which are time-consuming and use toxic reagents, are being reimagined by PictorLabs’ AI-driven virtual staining technology.
This advancement delivers results in minutes, eliminating the need for toxic reagents and significantly reducing turnaround times.
The technology developed by PictorLabs allows for an almost unlimited number of tests from a single specimen, providing physicians with better insights and a more comprehensive understanding of tissue conditions.
This not only enhances efficiency but also promotes sustainable laboratory practices by reducing the resources required for traditional staining methods.
