AI company AZMed of Paris has secured €15 million in funding from U.S. and European investors.
The company plans to use the funding to further develop its AI-based Rayvolve software, which identifies abnormalities on x-ray exams. The software received the CE Mark in 2019 and was cleared by the U.S. Food and Drug Administration (FDA) in 2022 and is being used in more than 1,000 facilities across 40 countries, according to the firm.
