Digital pathology platform Techcyte, Inc., closed a $4.3 million funding round. The investors in the round include investors from previous rounds, as well as employees and strategic partners.
Techcyte was founded in 2013 as a tech transfer from the University of Utah, with a mission to lower healthcare costs using artificial intelligence. Techcyte employs the power of deep machine learning to perform image analysis of whole slide images. In addition to its digital pathology platform, Techcyte has also been working with labs, doctors and experts around the world to annotate hundreds of thousands of images to feed into the deep learning algorithms.
According to the company, the funds will be used to accelerate selling to veterinary, human and air quality labs in the United States and international markets. In addition to increasing marketing efforts and sales, the funds will also allow Techcyte to perform the clinical tests required for an FDA 510k regulatory clearance.