Medical University of Vienna-founded radiology image search engine creator Contextflow has been backed by investors including spinout-focused venture fund IST Cube.
Contextflow, an Austria-based radiology image indexing platform spun out of Medical University of Vienna and EU-funded research project Khresmoi, has received an undisclosed seed sum from a consortium led by IST Cube, a spinout-focused venture fund affiliated to Institute of Science and Technology Austria.
IST Cube invested in the round together with venture capital firm Apex Ventures.
Founded in 2016, Contextflow has created a search engine for radiology images that uses deep learning to index the files so professionals can quickly find information from them.
The technology is intended to help radiologists better manage their workloads. It can process search queries consisting of a specific region of interest in an image and is also able to scan through information related to imaging files.
The capital will allow Contextflow to grow its sales and marketing operation and fund continued development of its underlying technology.
Contextflow has previously received assistance through Vienna University of Technology’s (TU Wien’s) i²ncubator program and the Inits Universitäres Gründerservice incubator owned by TU Wien, University of Vienna and the Vienna Business Agency.
The spinout has also accessed support via the German Federal Ministry of Science, Research and Economy through the latter’s alliance with business development bank Austria Wirtschaftsservice (AWS) and AWS’s PreSeed and Seedfinancing initiatives.
The press release also identified incubator JumpStart and the Vienna Business Agency in its own right as among Contextflow’s supporters.
Markus Holzer, chief executive and co-founder of Contextflow, said: “We are very excited to have IST Cube and Apex Ventures on board and are looking forward to the next phase of transforming European research outcomes [of] clinical applications and improving patient care.”
