FII Institute makes $1.2mn investment in Medtech firm AZmed

By Arya M Nair, Intern Reporter
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The Future Investment Initiative (FII) Institute has announced a $1.2 million investment in AZmed, a Paris-based Medtech that develops Artificial Intelligence (AI)-enabled diagnostic tools that could help overcome the global shortage of radiologists.

The investment, which is part of AZmed’s latest $4.1 million round, builds on the Institute’s commitment to catalyze globally relevant, real-world solutions in five focus areas like AI and Robotics, Education, Healthcare, and Sustainability.

The investment in AZmed comes during the 5th Anniversary of FII, the Institute’s flagship platform which took place at Riyadh recently. The platform was centered on the theme “Invest in Humanity” and discussions that could benefit humanity the most, particularly in the post-COVID period.

The company’s first product, Rayvolve, is a market-leading, AI-powered Fracture and chest abnormalities detection tool that was the first in its field to receive CE certification, assuring it meets all applicable European health, safety, performance, and environmental requirements.

Richard Attias
Richard Attias
CEO
FII Institute

“We are very excited to support a company that is focused on life-saving technologies. Improving products and services for radiologists is an important issue for this specialty and we need to relieve the pressure on healthcare systems around the world that are already stretched by limited resources.”

AZmed CEO Mr. Julien Vidal said, “Our goal is to be the trusted tech partner for every doctor analyzing a medical image anywhere in the world. We are excited to work with the FII Institute which will bring strategic value to AZmed through connections with healthcare and AI specialists in its network, as well as go-to-market partners in the United States and MENA region.”

This marks the fourth FII Institute investment announced after investments in Interstellar Lab, a space technology company designing closed-loop biodomes for sustaining life on Earth, the moon, and Mars, Lilium, an electric-powered aircraft reducing the carbon impact of regional travel, and Red Sea Farms Agtech making it possible to grow food using sun and saltwater in challenging desert climates.

Related: Mubadala Health, G42 Healthcare join to foster collaboration


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