Gleamer raises €27 Million in Series B Funding Round

To expand its AI solutions portfolio and speed up international expansion

Today, Gleamer, the leading European manufacturer in AI-powered solutions for medical imaging, announced a Series B financing of €27 million. This operation is led by Supernova Invest, co-led by Heal Capital and backed by Gleamer’slong-term partners XAnge, Elaia, Bpifrance via the funds Digital Venture and F3A from France 2030, MACSF, Crista Galli Ventures, and UI Investissement, as well as several European radiologists. This new investment will enable Gleamer to expand its portfolio of solutions, strengthen its European and American teams, and accelerate its international development plans. Total funds raised to date amount to €36 million (which includes a Series A funding round of €7.5 million in 2020 and seed funding of €1.5 million in 2018).

Become a global player in augmented medical imaging powered by AI

Since its inception, Gleamer has developed a comprehensive suite of AI-powered solutions for standard radiography certified as Class IIa medical devices under EU MDR and partly FDA cleared. The clinical diagnostic solutions developed by Gleamer are now recognized worldwide by the scientific community, thanks to nine publications in major medical journals. Now serving over 6,500 users in 650 institutions, spanning 24 countries, its solutions process more than a million medical examinations each month. This new funding gives Gleamer the resources to achieve its strategic roadmap, and to deploy disruptive technological solutions at scale to meet the expectations of medical staff worldwide.

” This new round of funding will allow us to deepen Gleamer’s mission of making AI the new standard of care in radiology. Our aim is to increase diagnostic accuracy and improve patient care and the efficiency of clinical practices for health professionals. We are delighted to have the support of Supernova Invest and Heal Capital, who not only have recognized deep expertise in this field, but also know how to support the commercial and technological development of growing companies positioned on global markets, such as Gleamer”, Christian Allouche, CEO and co-founder of Gleamer, explained.

Tomorrow, by extending its portfolio of solutions to CT scans and mammography, Gleamer will cover 70% of radiologists’ daily (or “routine”) needs. The company aims to accelerate its international expansion, particularly in Europe and in the United States where the sales teams will be strengthened. In addition, Gleamer will extend existing strategic partnerships, while signing new large-scale partnerships with local and global players in the medical imaging field, to make Gleamer’s solutions accessible to as many people as possible.

“Gleamer is positioned as a leader in the use of AI in radiology, with a catalog of solutions to improve the diagnosis of numerous pathologies and the effectiveness of care, for the benefit of patients. Supernova Invest is delighted to support a visionary team with unique growth potential, redefining the contours of radiology and medical imaging through disruptive technological solutions that can be deployed on a large scale. This is a company whose business and societal models, and technological challenges are in line with Supernova Invest’sDNA”, comments Rémi Spagnol, Investment Director at Supernova Invest.

“We look for investments that meet a critical market need and Gleamer is the perfect example of a company that will make an impact as it is poised to become a leader in AI-powered medical solutions and continues to innovate and advance the field of medical AI”, said Christian Lautner, Founding Managing Partner, Heal Capital.

For this venture, Gleamer sought legal and financial advice from the law firm McDermott Will & Emery AARPI and the Investment bank Cambon Partners.

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