Australian MedTech Startup Harrison.ai Raises $112 Million in Series C Funding for AI-Enabled Medical Diagnostic Software

Harrison.ai, an Australian startup based in Sydney, has secured $112 million in Series C funding to expand its AI-enabled medical diagnostic software and services. The funding round was co-led by Aware Super, ECP Asset Management, and Horizons Ventures, with participation from new and returning investors.

The startup offers AI-powered diagnostic software for radiology and pathology, aiming to improve the accuracy and efficiency of medical condition diagnosis. The company was founded in 2018 by brothers Dr. Aengus Tran and Dimitry Tran, who sought to address the global shortage of skilled clinicians and the increasing demand for diagnoses.

Harrison.ai plans to use the funding to further develop its AI automation capabilities and expand its presence in key markets such as the U.S., EMEA, and Asia Pacific. With regulatory clearance in 40 countries and plans to establish a North American presence, the company is focused on enhancing healthcare capacity through AI automation. The startup has also achieved significant milestones, including tripling contracted annual recurring revenue for its radiology offering and operational presence in 15 countries. 

In addition, Harrison.ai has differentiated itself from competitors with its chest X-ray and CT brain products, which have gained regulatory clearance for the detection of a significantly larger number of findings compared to rivals. The company aims to leverage its extensive datasets and medical expertise to further enhance AI automation across various diagnostic tests beyond radiology and pathology.

Source: Tech Crunch