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Koios Medical, based in Chicago, Illinois, develops AI-based clinical decision support software designed to assist radiologists in diagnosing breast and thyroid cancers from ultrasound imaging. Their FDA-cleared Smart Ultrasound software leverages machine learning algorithms, trained on a dataset exceeding 500,000 breast lesion images linked to pathology results, to enhance diagnostic accuracy. This technology integrates into existing radiology workflows, aiming to improve diagnostic precision and potentially reduce healthcare costs associated with cancer screening. The company has raised a total of $15.95 million in funding, including a $5 million equity financing round initiated in late 2018 and a $170,000 debt round approximately one year ago. Founded in 2012, Koios Medical operates without publicly disclosed founder names. Its business model centers on raises funding through equity and debt rounds to develop and commercialize software products.
Koios Medical has raised $8.0M across 1 funding round.
Koios Medical has raised $8.0M in total across 1 funding round.
Koios Medical has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Series B in January 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2023 | $8M Series B | — | BITKRAFT Ventures, Brighter Capital, Electric Capital, Ethereal Ventures, Hartmann Capital, Mercury Fund, MetaProp Ventures, NEW AGE Ventures, Polygon Labs, Third Prime, Jutta Steiner, Matias Woloski, Maya Zehavi, Scott Belsky, Teck Chia | Announced |
Koios Medical has raised $8.0M in total across 1 funding round.
Koios Medical's investors include BITKRAFT Ventures, Brighter Capital, Electric Capital, Ethereal Ventures, Hartmann Capital, Mercury Fund, MetaProp Ventures, New Age Ventures, Polygon, Third Prime, Jutta Steiner, Matias Woloski.
Koios Medical is a healthcare technology company that develops AI-powered clinical decision support software, primarily for radiologists diagnosing breast and thyroid cancer using ultrasound imaging. Their flagship product, Koios DS (SmartUltrasound), leverages proprietary artificial intelligence algorithms trained on hundreds of thousands of ultrasound images and pathology data to provide real-time, evidence-based "second opinions" that improve diagnostic accuracy, speed clinical decisions, and reduce unnecessary biopsies. The software is FDA-cleared and CE Mark approved, serving hospitals, imaging centers, and radiology professionals focused on enhancing cancer diagnosis and patient outcomes[1][2][3][7].
The company addresses the critical problem of diagnostic variability and error in ultrasound imaging for cancer detection, particularly in dense breast tissue where mammography is less effective. Koios Medical’s AI tools streamline radiologists’ workflows, reduce healthcare costs, and improve early cancer detection rates. The company is experiencing growth momentum through partnerships with major healthcare technology firms like GE Healthcare and Philips, expanding global market penetration, and aiming for cashflow neutrality by the end of 2025[2][6].
Founded from technology originally developed in 2007 by engineers applying radar and machine learning techniques for the U.S. Army, Koios Medical repurposed this expertise to detect cancer cells via ultrasound imaging. Over more than a decade, the company has refined its AI algorithms using a vast dataset exceeding 500,000 breast lesion ultrasound images linked to pathology or follow-up data. This long-term development culminated in the FDA clearance of Koios DS Breast, the first AI-based software cleared for breast cancer diagnosis assistance. The founders and team brought deep expertise in AI, machine learning, and medical imaging, with a mission to improve diagnostic accuracy and patient care through advanced technology[5][4].
Early pivotal moments include achieving FDA clearance, securing CE Mark approval, and forming strategic partnerships with leading healthcare companies, which validated the clinical utility and commercial viability of their AI platform[2][6].
Koios Medical rides the accelerating trend of AI adoption in healthcare, particularly in medical imaging and cancer diagnostics. The timing is critical as computing power and large annotated datasets have only recently enabled practical, reliable AI applications in clinical settings. Increasing regulatory acceptance and reimbursement frameworks further support AI integration. Market forces such as rising cancer incidence, breast density notification laws, and demand for non-invasive diagnostic tools create a favorable environment for Koios’s solutions.
By improving diagnostic accuracy and workflow efficiency, Koios Medical influences the broader ecosystem by setting new standards for AI-assisted radiology, reducing unnecessary biopsies, and enabling earlier cancer detection. Their partnerships and multi-modality approach contribute to a more comprehensive AI-powered diagnostic pathway, enhancing patient outcomes and healthcare system efficiency[2][4][6].
Koios Medical is positioned for continued growth as it scales globally through strategic partnerships and expands its AI platform to additional cancer types and imaging modalities. Trends shaping its journey include increasing regulatory clarity for AI medical devices, growing acceptance of AI as a clinical decision support tool, and healthcare systems’ focus on cost-effective, accurate diagnostics.
Looking ahead, Koios’s influence may evolve from a niche ultrasound diagnostic aid to a broader AI-driven diagnostic ecosystem participant, potentially integrating with other imaging technologies and clinical data sources. Their mission to improve cancer diagnosis and patient care aligns with the ongoing digital transformation in healthcare, promising sustained innovation and impact.
In summary, Koios Medical exemplifies how advanced AI can augment physician expertise to elevate diagnostic quality and efficiency in cancer care, riding a wave of technological and regulatory momentum that bodes well for its future[1][2][4][6].
