Techcyte
Using deep machine learning and digital pathology to automate microscopy tests for human & veterinary medicine & air quality control.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
$21.0m | Late VC | ||
| Total Funding | 000k | ||
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Techcyte is a digital diagnostics company that provides an artificial intelligence (AI) based platform for pathology. Founded in 2013 as a technology transfer from the University of Utah, the company originated from an idea by Dr. Mohamed Salama for a new blood cell classification system. Founders Ralph Yarro and Rick Smith licensed a white paper on the topic and embarked on a mission to enhance diagnostic testing. The company now serves human, veterinary, and environmental laboratories, aiming to improve the speed and precision of identifying diseases.
The core of Techcyte's offering is its unified digital pathology platform, Techcyte Fusion, which combines clinical and anatomic pathology into a single cloud-based solution. This platform digitizes laboratory workflows by converting glass slides into digital images, which are then analyzed by its deep learning algorithms. The system is designed to be hardware-agnostic, integrating with various whole slide scanners and laboratory information systems (LIS). It provides tools for numerous applications, including hematology, bacteriology, parasitology, and cervical cytology. By automating the analysis of microscopy images, Techcyte helps to increase the efficiency and consistency of diagnostic tests.
Techcyte's business model is centered on partnerships and a Software-as-a-Service (SaaS) structure. The company generates revenue through subscription and licensing fees for its platform and AI technology. A significant part of its strategy involves collaborating with diagnostic companies, scanner manufacturers, and reference labs to expand its market reach. Key collaborations include partnerships with Zoetis for veterinary diagnostics, resulting in the VETSCAN IMAGYST platform, and strategic alliances with ARUP Laboratories and the Mayo Clinic to develop and commercialize new diagnostic tests. The company has achieved notable milestones, including its first profitable year in 2019, receiving CE certification for its platform in 2020, and closing a $21 million funding round in 2021.
Keywords: digital pathology, AI diagnostics, clinical pathology, anatomic pathology, machine learning, image analysis, laboratory workflow, veterinary diagnostics, environmental testing, hematology, cytology, microbiology, whole slide imaging, SaaS, diagnostic software, ARUP Laboratories, Zoetis, Mayo Clinic, pathology platform, AI algorithms