Stockholm-based startup Corsmed, which develops an MRI (Magnetic Resonance Imaging) simulation platform, has raised $3.5 million, bringing its total investment to $10 million in a seed funding round to save 100 lives with its MRI scanning technology. The funding round was co-led by Luminar Ventures and Big Pi Ventures.
- Founded in 2016 by Erik Jacobsson and Christos Xanthis, Corsmed develops an advanced MRI simulation platform that provides hands-on training for MRI scanning.
- The platform allows users to configure MRI hardware, set up patient simulations, and adjust scan parameters while generating realistic simulated MRI images.
- According to the startup, Corsmed has developed digital twin technologies that reduce MRI scan times from 45 minutes to just 2-3 minutes, a 10-times speed improvement over current clinical standards.
- Educational institutions and medical facilities, including the NHS, UMC Utrecht, the London Imaging Academy, and Lund University use the company’s MRI Simulator.
Details of the deal
- The seed round was co-led by Luminar Ventures, a Swedish venture capital firm that backs seed-stage startups across the Nordics, with ticket sizes ranging between €500,000 and €2.5 million, and Athens-based VC Big Pi Ventures.
- Corsmed plans to use the $3.5 million in funding to launch its fast MRI scanning technology in clinical settings, obtain FDA approval, ensure HIPAA compliance, and further develop its software to scale and improve accessibility.
"The funding we have secured from Luminar Ventures and Big Pi Ventures is essential to make this happen. We are very grateful for their unwavering support in our mission to save 100 million lives," co-founder and CEO of Corsmed, Erik Jacobsson, commented.
