Harrison.ai completes $29m capital raising

Sydney-based healthcare AI company Harrison.ai has completed its first capital raise. The company has raised $29 million in a funding round led by Blackbird Ventures.

Horizons Ventures, Skip Capital and Ramsay Healthcare also participated in the capital raising for the company, which was founded in 2018 by brothers Dr Aengus and Dimitry Tran.

Dr Aengus Tran is a clinician and AI engineer, while his brother is a healthcare technologist.

Harrison.ai plans to use the proceeds from the funding round to hire new data science and software engineering staff, as well as those with clinical and medical device backgrounds.

The company also aims to use the funds to help develop new applications for AI in areas including radiology, pathology and hospital operation.

The company’s first product launch was in the field of in vitro fertilisation. Harrison.ai worked with ASX-listed IVF provider Virtus Health to develop an AI technology capable of predicting the likelihood of pregnancy by analysing embryo videos.

The IVY algorithm, which was developed by Dr Aengus Tran while he was completing his medical degree, was rolled out in clinics within 11 months.

Harrison.ai has also recently formed a new joint venture with Australian diagnostic imaging provider I-MED Radiology Network to develop prediction engines for key imaging modalities including X-ray, mammography and CT to help radiologists accurately diagnose diseases and injuries.

“I’m excited to be able to use my AI and medical background to help many thousands, potentially millions, of patients to achieve better healthcare outcomes faster than I ever could have by treating patients individually,” Dr Tran said.

“Wearing the dual hat of a clinician and an AI engineer translates into clinically sound designs and technically robust solutions to benefit patients.”

Pictured: Aengus and Dimitry Tran