Berlin-based healthcare technology company Vara has secured $8.9 million (€8M) in funding to expand its AI-enabled breast cancer detection platform, according to a company press release. The funding round was led by Smart Family Office (Austria), FJH (Germany), and IBB Ventures.
The company's AI system, which currently manages nearly 40% of breast cancer screenings in Germany's National Program, has demonstrated significant success in early detection. The platform processes over 100,000 images monthly and has shown the ability to identify 50% of cancers that radiologists might otherwise miss, while simultaneously reducing false positives.
Vara's technology has proven particularly effective in enhancing workflow efficiency for radiologists. A recent study published in The Lancet Digital Health, analyzing nearly two million datasets from the UK, Sweden, and Germany, validated these improvements in cancer detection and workflow optimization.
The company is now expanding into emerging markets, with a particular focus on India. Through a partnership with NM Medical, a leading imaging services provider in Mumbai, Bangalore, and Pune, Vara aims to improve early breast cancer detection in the region.
"This raise, which is particularly significant in today's economic climate, not only validates our technology but enables us to accelerate Vara's expansion for global impact," said Jonas Muff, CEO of Vara.
Ute Mercker, Investment Director at IBB Ventures, emphasized the importance of bringing innovative screening to emerging markets, noting that breast cancer remains the most common form of cancer in women.
