Lumir Ventures Backs Scopio Labs In $50M Funding Round

Lumir Ventures is thrilled to invest in Scopio Labs, provider of the world’s first full-field digital cell morphology solution, enabling faster, earlier detection and diagnosis of disease, expediting patients' access to life-saving treatments.

Lumir participated in Scopio's recent Series C round. The round was led by a strategic partner (undisclosed), alongside Aurum Ventures, OurCrowd, Ilex Medical, Mizrahi Tefahot Invest and others. Founded in 2015, the company, which is based in Tel Aviv has raised $84 million to date and employs 90 people both in Israel and the US.

Scopio aims to change the standard of healthcare and revolutionise first-line diagnostic testing by harnessing the power of Full FieldTM Imaging and AI to analyze the morphology of cells at a scale and depth that was never possible before.

Blood tests are among the most frequent medical procedures with billions conducted every year in the world. One of the most common tests, the Peripheral Blood Smear review, is still manually conducted by a human looking at a sample under a microscope, classifying cells by type, counting them and hunting abnormalities that could mean cancer or other diseases. Even when snapshots of a few cells can be digitised, the images are removed from its full context, forcing investigators to keep the slide and microscope on hand.

Scopio Labs has revolutionised this process by developing a suite of fully automated, end to end diagnostic applications representing digital transformation in the hematology lab and true progress in consistency, efficiency, and remote review capabilities, fundamentally changing laboratory workflow practices. Scopio’s high resolution digital images and AI-powered analysis results can be accessed from anywhere, freeing hematopathologists and clinicians from the lab and the microscope. With these unique capabilities, Scopio brings the remote-work revolution to hematology and cell morphology, a need that became apparent during the Covid-19 Pandemic.

“Deep Learning can analyse hundreds of times more healthcare data from a patient, supporting physician decisions and detecting conditions like cancers, anemias, and bleeding disorders, as well as infections and allergies. But for us it all begins with high-quality digital imaging data,” said Scopio co-founder and CEO Itai Hayut.

Scopio Labs’ FDA-cleared, Full-Field Peripheral Blood Smear application is in commercial use across the U.S. and Europe. Scopio Labs is working to bring more AI applications to market and with its new round of funding, the company will expand its sales and partnerships in new markets on worldwide scale.