London-based healthtech startup Skin Analytics, which uses AI to improve skin cancer diagnosis, has raised £15 million in funding led by Intrepid Growth Partners, with support from business angels.
- Founded in 2012 by Neil Daly, Skin Analytics develops DERM, the world’s first and only UKCA Class IIa and CE Class III marked autonomous AI medical device for skin cancer.
- DERM is integrated into a custom teledermatology platform. It enables rapid and accurate triage of skin lesions by analysing clinical images to detect malignancies, allowing the safe discharge of benign cases and fast-tracking of suspected cancers.
- The technology is deployed across 26 NHS sites and is supported by national programmes such as DigitalHealth.London and the NHS AI in Health & Care Award.
- Skin Analytics claims that it is helping to reduce unnecessary face-to-face appointments by up to 95% and safely discharge 20–40% of urgent referrals, improving patient outcomes while alleviating pressure on healthcare systems.
Details of the deal
- The funding round was led by Intrepid Growth Partners. This Toronto-based venture capital firm backs AI-driven companies at the growth stage, providing capital and strategic support to help them scale and succeed globally.
"We are pleased to announce our first healthcare investment. Skin Analytics has already transformed dermatology pathways in the UK, and with this funding, will expand into international markets facing similar challenges," Intrepid Growth Partners' team, commented on LinkedIn.
- Skin Analytics will use the £15 million in Series B funding to expand its AI platform beyond skin cancer, enhance its teledermatology infrastructure, and scale its services both in the UK and internationally.
