London-based AI platform Bitfount has raised US$8 million in series A funding to advance its federated AI technology in global healthcare systems.

This funding round included contributions from Parkwalk Advisors, Ahren Innovation Capital, Pace Ventures, Foresight Group, and Portfolio Ventures.

The new funding will support product development and expand partnerships with pharmaceutical companies, clinical research organizations, and academic institutions.

Additionally, the company plans to broaden its platform to encompass the entire clinical research process, from trial design to regulatory approval.

Bitfount’s platform allows healthcare providers and pharmaceutical companies to collaborate securely while analyzing sensitive patient data without sharing it.

The technology integrates electronic health records and medical imaging data. It addresses privacy concerns that have hindered AI use in clinical research.

Early trials of the platform have yielded positive outcomes.

A validation study at Moorfields Eye Hospital, for example, demonstrated a reduction in screen failure rates during a trial for Dry Age-Related Macular Degeneration.

This was achieved by utilizing AI-based image analysis along with EHR data.