MAGENTIQ EYE, an Israeli company specializing in AI for gastroenterology, has closed its Series A funding. Consequently, aMoon led the investment round to advance the company's decision-support software.
The company will use the capital to support continued product development. Additionally, it will drive commercial growth in the USA, Europe, and other global markets. This expansion will occur through direct sales as well as new industry partnerships.
Fueling Global Commercial Growth
Founded in 2014, MAGENTIQ EYE provides an AI-aided colonoscopy solution. The company is advancing the field of AI in healthcare and competes with established players like Medtronic. Furthermore, it is developing diagnostic tools for conditions like ulcerative colitis and is currently in clinical trials. Its work on automated quality indicators for GI procedures places it in a growing market for medical devices alongside startups like Iterative Scopes.
In conjunction with the deal, aMoon partner Roy Wiesner will join the board of directors.
The funding also included participation from several internal investors. These include Norgine Ventures BV, Nina Capital, Namarel Ventures SL, Nova Capital, and private investors Sake Bosch and Roon Doornink.