Japanese AI endoscopy startup gets $42.9m from Sony, Globis Capital, others

AI Medical Service Inc. (AMS), a real-time endoscopic AI developer based in Tokyo, has raised US$42.9 million in series B funding from Globis Capital Partners, World Innovation Lab, and Sony Innovation Fund, as well as additional third-party allocations.

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The latest round brings AMS’ total funding to approximately US$57 million since its founding in 2017. In August 2018, it raised over US$9 million from Incubate Fund.

AMS intends to use the new funds to promote clinical trials, further develop its pipeline, hire expert personnel, and invest in equipment and overseas expansion.

By further developing its technology, the company hopes to accelerate towards regulatory approval and contribute to the development of endoscopic medical care worldwide.

“Our company was founded on the desire to solve issues with endoscopies in the clinics. In January 2018, we published the world’s first article on AI in gastric cancer in cooperation with the Joint Research Group and have since published a number of scientific articles on topics including AI in esophageal cancer, colorectal cancer, and capsule endoscopy AI,” Tomohiro Tada, CEO of AMS, said.

“In order to commercialize and deliver these products to society as soon as possible, we will make effective use of the procured funds,” he added.

AMS develops AI technology that leverages on the wisdom of Japanese endoscopic specialists and supports endoscopic examinations of gastrointestinal organs. It claims to collaborate with around 80 medical institutions worldwide, representing Japan in the field of research and development of AI endoscopies.