Corsmed in a $3 million capital round backed by angel investors from Sweden.

Corsmed, a Stockholm, Sweden-based software developer of a MRI simulator platform, completed a funding round totalling SEK 26.4M ($3M).

The money was raised from local angel investors from Sweden, including Andreas Ehn, Gerhard Dahl and Göran Nordlund's investment company Fore C.

According to the media, the deal values the company at SEK 189 million ($21.6M).

Corsmed, founded in 2016 by Christos Xanthis and Anthony Aletras based on their research made at Lund University and led by CEO Erik Jacobsson, developed a software app that is designed for advanced MRI simulations and provides operators, students and teachers with unlimited virtual MRI scanners.

Corsmed's MRI simulator lets both new and experienced users practice and improve their skills in a safe setting - the practitioner selects a preferred scanner and chooses an anatomic model (a patient), then uses the same interface as on real scanners to set the slice positions, pulse sequence and its parameters. After running the simulated scan, the MRI simulator returns the same resulting images as on a real scanner, including noise and artefacts.

Corsmed currently has 15 employees in Stockholm, Lund and Thessaloniki in Greece. It previously raised funding from Lund University Holding and angel investors in 2019.