AI Medical Service, a Tokyo-based company developing AI-based software to help detect gastric cancer, announced today that it has raised a $42.9 million Series B. Investors include Globis Capital Partners, World Innovation Lab and Sony Innovation Fund by IGV. The funding will be used for clinical trials of its software, which looks for signs of cancer in real-time during endoscopies, product development and overseas expansion. This brings AI Medical Service's total funding so far to $57 million, including a previous round of $9 million from the Incubate Fund in August 2018. Founded in 2017, the company's software focuses on signs of cancer in gastrointestinal organs, including the esophagus, stomach and intestines, with the goal of reducing the amount of hours doctors and other health professionals need to spend going over scans. AI Medical Service is currently collaborating with 80 medical institutions on joint research for regulatory approval of its products.

Tokyo-based AI Medical Service Inc., which is developing endoscopic software powered by artificial intelligence, announced today that it has raised $42.9 million in a Series B round. Japan's Globis Capital Partners, World Innovation Lab (WiL) out of Palo Alto and Sony Innovation Fund by IGV (Innovation Growth Ventures), and others participated in the financing. Combined with the company's last raise of $9 million in August 2018, AI Medical Service has now brought in about $57 million in venture funding since its inception in September 2017. In its own words, the company "develops AI technology that brings together the wisdom of Japanese endoscopic specialists and supports endoscopic examinations of gastrointestinal organs, such as the esophagus, stomach, small intestine and large intestine." Its goal is to more quickly and efficiently diagnose gastric cancer.