Singapore state investor Temasek Holdings has co-led a $28 million Series C investment in US-based medical imaging platform Arterys, according to an announcement.
The Series C round’s other lead investor was Benslie Investment. Fosun, Revelation Partners, Emergent Medical Partners, and Varian Medical Systems also participated in the financing.
Arterys said it will use the fresh funding to broaden its ecosystem and facilitate the development of a range of clinical applications based on its platform. More specifically, it plans to accelerate efforts to bring new clinical-grade AI applications to healthcare providers by extending its proprietary technology platform to application partners.
Arterys claims to be the world’s first internet platform for medical imaging.
“The current crisis has shown us the necessity of a different approach to providing healthcare, where technology and AI are crucial for future success. Arterys is committed to transforming the way AI is integrated into the medical workflow, a promise that is long due in the industry,” said Benslie International managing partner Henry Weinstein.
Benslie International is a digital health investment vehicle of EMC2 Fund Ltd, which was founded by the Weinstein family that has over 90 years of experience in the healthcare industry and has made several venture capital investments in the US and Israel.
Temasek, meanwhile, owns a S$313 billion (US$231 billion) portfolio as of March 31, 2019.
Most recently, the Singapore state investment firm led a $46 million Series B funding in Ascus Biosciences, a US-based deep science animal health and nutrition company that develops various microbial solutions.