Skin Analytics, a UK-based MedTech company, has raised £15 million in Series B funding to support its mission of eliminating deaths from skin cancer. The investment round was led by Intrepid Growth Partners.
The funding follows a major regulatory milestone. Skin Analytics recently received the EU MDR Class III CE mark for its AI tool, DERM. This makes DERM the world’s first legally approved AI medical device that can make independent clinical decisions about skin cancer without human oversight.
With the new investment, the company plans to broaden its product range to cover all areas of dermatology. It also aims to expand internationally, focusing on markets like Europe and Australia that face critical shortages of dermatologists. Entry into the U.S. market will also be accelerated.
Dermatologist shortages have become a serious issue. In Europe, there are only about 30 dermatologists per one million people. As a result, many patients must wait months for skin cancer checks.
Skin Analytics’ AI system is already in use at 26 NHS sites in the UK. So far, it has helped examine over 150,000 patients and detect more than 14,000 cases of cancer.
“AI allows us to move from a world where specialists are limited to one where anyone with skin concerns can get help,” said Neil Daly, founder and CEO of Skin Analytics. “This funding helps us build new care models that are accessible to everyone. We’ve proven our technology in the UK and are now taking it global.”
Mark Machin, co-founder and managing partner at Intrepid Growth Partners, said the company fits their goal of investing in high-impact technologies.
“Skin Analytics is changing the way we detect skin cancer,” said Machin. “They improve patient outcomes and cut healthcare costs. We’re proud to support their global growth.”
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