See-Mode Technologies, a medtech startup based in Singapore and Australia, has raised $7 million in a financing round.
The funding round was led by MassMutual Ventures Southeast Asia. Also participating were existing investors Blackbird Ventures, Cocoon Capital, Entrepreneur First, and SGInnovate, along with a group of angel investors.
The startup seeks to improve stroke prediction with artificial intelligence (AI)-based medical software and will use the investment to expand its commercial operation to Europe and the U.S. in the coming year. See-Mode will also use the money to double its team, expand research and development, and increase its sales as well as business development team. See-Mode also seeks partnerships with research institutions around the world to support its research and development efforts.
See-Mode's debut software, Augmented Vascular Analysis (AVA), uses deep learning, text recognition, and signal processing technologies to assist clinicians in interpreting and reporting vascular ultrasound studies. The firm says using its technology to generate reports can reduce the report generation time from 20 minutes to less than a minute.
AVA is approved by the Singapore Health Science Authority and is commercially available in Singapore, with ongoing pilots in Singaporean and Australian hospitals. The software is pending regulatory approval in other regions, including the CE Mark in Europe and from the U.S. Food and Drug Administration (FDA).
Other than AVA, See-Mode is also developing software to detect plaque using machine learning and to identify high-risk blood flow using computational modeling. See-Mode has completed proof-of-concepts for both with collaborators in Singapore and Australia. Multicenter clinical studies are now taking place across Europe and the U.S.
