Berlin-based startup Vara, which uses AI-driven technology to make breast cancer screening more accessible and effective, has raised $8.9 million in funding to expand its platform in emerging markets. The funding round was backed by IBB Ventures and Smart Family Office.
- Founded in 2018 by Jonas Muff and Stefan Bunk, Vara develops an AI-powered breast cancer screening platform designed to make early detection more accurate, accessible, and affordable. The platform collaborates with radiologists in Germany to reduce the subjectivity and repetitive tasks in mammogram analysis, enhancing precision and efficiency in detecting potential cases.
- Vara’s platform manages all aspects of breast cancer screening, from appointment booking and scan analysis to lab reporting and patient communication, enhancing workflow efficiency and supporting timely, accurate diagnoses. With backing from a large-scale study with the University of Lübeck and the German Breast Cancer Screening Program, Vara aims to reduce breast cancer mortality and increase access to life-saving screenings for women worldwide.
- According to Vara, full deployment of its modules is projected to improve key health system metrics, including a 40% increase in interval cancer detection, a 70% reduction in provider workload, and an additional 10 million mammograms performed.
Details of the deal
- The funding round was led by Berlin-based VC IBB Ventures and Smart Family Office, an investment management firm based in Salzburg, with support from Berlin-based Merantix Capital, EQT Foundation, and Vi Partners.
- With the capital raised, the startup aims to expand its presence in new markets, including India, where it has an established office. The funding will be used to advance the technological development of its AI-powered software, broaden operations across more screening centers, and invest in research to validate and enhance its solutions.
"We’re expanding our mission to increase early breast cancer detection rates and streamline workflows for radiologists. With our technology already impacting over 80,000 women monthly in Germany, we’re looking forward to further expanding into new emerging markets," Vara's team, commented on LinkedIn.
