PictorLabs, a pioneering software company transforming histopathology with AI-powered virtual staining, announced the successful completion of its $30 million Series B funding round. The round was led by global software investor Insight Partners, with continued participation from M Ventures, the venture capital arm of Merck KGaA, Darmstadt, Germany, which had previously led PictorLabs’ Series A round. The infusion of capital will enable PictorLabs to further advance its technology, expand its market reach, and accelerate the adoption of AI-driven virtual staining in clinical and research settings.
Spun off from the UCLA Colleges of Engineering and Medicine, PictorLabs is at the forefront of reshaping the 150-year-old practice of histological staining, which is critical for researching and diagnosing cancer, infectious diseases, and other pathological conditions. Traditional staining methods rely on toxic reagents and can take hours or even days to produce results. PictorLabs’ innovative AI-powered virtual staining technology eliminates the need for these reagents and significantly reduces turnaround times, delivering digitally stained slides in just minutes. As the demand for faster, more accurate diagnostic tools continues to grow, PictorLabs is poised to play a crucial role in the digital transformation of histopathology.
“Securing this Series B funding is a testament to the transformative potential of our technology and the trust that our investors have in our vision,” said Yair Rivenson, CEO of PictorLabs. “With the support of Insight Partners and M Ventures, we are well-positioned to scale our operations, expand our team, and bring our revolutionary virtual staining technology to more histopathology labs, ultimately improving patient outcomes across the globe.”
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“By digitizing the staining process, PictorLabs will increase the speed, consistency, and quality of pathology reports, both for patient treatment and life science research,” said Scott Barclay, Managing Director at Insight Partners. “Insight is proud to back Yair and this deep technology team who are so dedicated to science, to producing validated data, and to positively impacting pathologists and patients.”
Bauke Anninga, Investment Director at M Ventures, added: “We are excited by PictorLabs’ progress and continue to be impressed by their differentiated virtual staining technology. We look forward to supporting PictorLabs through their next phase of growth.”
PictorLabs’ innovative solution allows physicians to conduct virtually unlimited number of tests from a single specimen, empowering researchers to obtain better insights quicker, providing a more comprehensive understanding of examined tissue condition and enabling better-informed decisions. By reducing the time and resources required for traditional staining methods, PictorLabs is not only enhancing efficiency but also contributing to more sustainable laboratory practices.
Source: PRNewswire