Image: Axial3D
With a $10m contribution, investment firm 57 Stars becomes the company’s largest shareholder.
Belfast-based start-up Axial3D has raised $18.2m as part of a funding round to drive expansion of its AI-powered 3D medical-imaging tech.
The company received continued support from its first-round investors Techstart, Innovation Ulster Limited and US and Northern Irish business angels, as well as additional follow-on investment from Clarendon and three new strategic investors: 57 Stars, Whiterock and Innovate UK. 57 Stars will become the company’s largest shareholder, with a $10m investment.
Founded in 2015 by Daniel Crawford, Axial3D has created an AI-powered service that can turn 2D medical images into patient-specific 3D models.
These anatomical models have various medical purposes, such as pre-surgical planning, simulation, custom implants, medical device testing and custom prosthetics, as well as teaching and training.
Roger Johnston, CEO of Axial3D, said that the start-up is “delighted” with the latest investment, which he claims will enable it to advance its mission of “making patient-specific surgery routine globally”.
“Our AI technology has the power to impact millions of patients globally across patient specific applications in robotics, planning and patient-specific device workflows.”
Bernie McGuire, MD of 57 Stars, explained what made the company so attractive to investors: “Axial3D’s pioneering technology that creates patient-specific 3D imaging has already shown incredible potential in the medtech space.
“We are excited to support their ongoing technology application expansion and look forward to seeing the impact their innovations will make in advancing personalised healthcare.”
Last year, Axial 3D opened a new 3D medical printing centre in Belfast. It said at the time that the new facility would make it easier for hospitals and medical device manufacturers to access accurate, realistic 3D-printed anatomical models.
In November 2022, the company raised $15m in a round led by Stratasys, an Israeli company that provides 3D printers and materials for anatomic models.
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