Deciphex raises €31m in Series C funding led by Molten Ventures to scale its digital pathology platforms.
The Dublin-based artificial intelligence startup secured backing from Molten Ventures, ACT Venture Capital, and Seroba to expand its global footprint.
≈ £25.7M at €1 = £0.8289 on 7 Jan 2025
Deciphex is a digital pathology company that builds artificial intelligence software to automate routine diagnostic tasks and accelerate preclinical safety assessments.
Dublin-based digital pathology startup Deciphex has secured €31m in Series C funding to advance its diagnostic and drug development platforms. Molten Ventures led the round, with participation from ACT Venture Capital, Seroba, Charles River Laboratories, IRRUS Investments, HBAN Medtech Syndicate, and Nextsteps Capital.
Founded in 2017, the company offers flagship platforms including Diagnexia for clinical diagnostics and Patholytixm for preclinical safety assessments. The fresh capital will be deployed to support international expansion across the US, UK, EU, Canada, and Japan, alongside developing pathology foundational models using the firm's image repository.
The investment follows a previous $11.5m funding round raised in 2022. Deciphex aims to alleviate global healthcare backlogs caused by rising patient demand and declining pathologist numbers by enabling clinicians to work up to 40% faster.
From the founder
"This investment accelerates our mission to transform global pathology access. Our ergonomic, AI-enabled platform enhances diagnostic workflow and accuracy – allowing experts to clear backlogs faster without compromising quality. By expanding this technology worldwide, we’re not just improving healthcare efficiency, we’re supporting both the pathologists who drive diagnoses and the patients who depend on them."
Donal O'Shea
Founder and CEO at Deciphex
Investor perspective
"Deciphex is tackling one of healthcare’s most pressing issues. By supporting pathologists with AI tools that enhance efficiency without sacrificing accuracy, Deciphex offers a much-needed solution to the diagnostic burden facing pathologists around the world. We’re thrilled to support Deciphex in bringing these critical diagnostic services to those who need it most."
Inga Deakin
Partner, Molten
Use of funds
- 01Expand into international markets
- 02Fund research and development
Investors
Inga Deakin
Molten
Seroba
Charles River Laboratories
IRRUS Investments
HBAN Medtech Syndicate
Nextsteps Capital