Founded in 2016 as a spinoff of the Medical University of Vienna (MUW), contextflow GmbH develops deep learning-based software to improve radiology workflows. Its core technology is a 3D image-based search engine (SEARCH), which detects disease patterns in 3D medical images like CTs and MRs. It is currently being utilized by radiologists on lung CTs, identifying 19 different patterns (including those related to COVID-19), making it the only clinical decision support system of its kind.
In a Series A financing round, contextflow was able to raise fresh capital from B&C Innovation Investments GmbH as lead investor. In addition, the new co-investor TTIP Beteiligungs GmbH as well as the previous investors APEX Ventures, Crista Galli Ventures, IST cube, Nina Capital and Novacapital participated. An additional second closing for selected investors is planned to be finalized this summer.
The investment will be used primarily for the market entry in Europe and the US, obtaining FDA clearance as well as extending the company’s offerings to include new products and features.
The BRANDL TALOS transaction team consisted of Markus Arzt and Christina Bernhart.