November 3, 2021
Israeli firm is looking to deploy its first products in the US, India, and South Korea
Israeli startup illumigyn, which is looking to develop AI for gynecological imaging, has raised $33m following investments from the Yozma Group Korea and Ubicom Holdings Japan.
The company said the funding will help accelerate its product deployment plans. Initially, it is targeting markets in the US, India, South Korea, Singapore, and the United Arab Emirates.
“We are proud to introduce to the world a cutting-edge innovation that will ensure that women all over the world will feel safe during gynecological exams and will have access to all of their medical information,” said Dr. Avi Ludomirski, CEO and chair of the board at illumigyn.
“The funding secured by the company will be deployed to ramp up production and will enable illumigyn to execute existing distribution agreements and sign additional new global partnerships.”
Democratizing women’s healthcare
illumigyn was founded in 2012 by Ran Poliakine – founder and former CEO of Powermat Technologies, the wireless power developer.
Co-founding the firm were Lior Greenstein, previously CTO at Wellsense Technologies, and Gad Ganon, a former mechanical designer in the R&D division of Applied Materials.
Their work incorporates existing machine vision technologies into an imaging colposcope for medical applications to try and eliminate subjectivity around cervical exams– although all AI-based functionality is currently listed as ‘under development.’
The ‘Gynescope’ delivers 15-micron image resolution and can provide a range of working distances. It is accompanied by a cloud service and a mobile app.
The device allows for early detection of cervical cancer while meaningfully reducing misdiagnoses, the company said.
The FDA-cleared system can be operated by most trained caregivers – from physician assistants to GPs.
It’s also HIPAA-compliant, with images automatically uploaded to the cloud and held securely, allowing a doctor or specialist to view and assess the images remotely.
“This is another milestone in our vision to democratize women’s healthcare and bring advanced gynecological care to women worldwide,” CEO Poliakine said.