Aiforia announced the completion of a €17.5M Series B funding round.

Aiforia,, a Helsinki, Finland-based medtech company developing software solutions for digital medical microscopy, announced the completion of a €17.5M Series ($20.5M) B funding round.

The funding round is led by Epredia's UK entity, a subsidiary of PHC Holdings Corporation.

The funding helps accelerate the development and commercialization of Aiforia’s portfolio of clinical tools for AI-assisted support in the diagnosis of some of the world’s most prevalent diseases like breast and lung cancer — Aiforia intends to launch CE-IVD marked clinical tools for both diseases this year.

Aiforia, founded as Fimmic in 2013 and led by CEO Jukka Tapaninen, is a spin-off company from the Finnish Institute for Molecular Medicine at the University of Helsinki. The company developed WebMicroscope, a commercial platform that supports pathologists and medical researchers in tissue diagnostics through deep learning AI-based image analysis. WebMicroscope aims to improve the speed and accuracy of diagnosis which translates into more precise and personalized patient care.