Axial3D has secured 18.2 million USD in its latest funding round as it continues its bid to make patient-specific surgery the standard of care.
Existing investors Techstart, Innovation Ulster Limited, and Clarendon were joined in the fund-raising effort by three new investors: 57 Stars, Whiterock, and Innovate UK. By investing 10 million USD into the company, 57 Stars is now the company's largest shareholder.
Axial3D is a specialist in medical segmentation and 3D printing, working to deliver patient-specific 3D solutions to surgeons, radiologists, and engineers. In recent years, the company has opened a new 3D printing centre of excellence in Belfast and procured investment from additive manufacturing leader Stratasys. In 2023, the company also received FDA clearance for its AI-driven medical image segmentation platform.
As it receives this latest round of fudning, the company is looking to accelerate its mission of making patient-specific medical solutions routine globally.
Roger Johnston, CEO of Axial3D, said: "Our market-fundamental patented technology platform empowers medical device companies, medical imaging companies, and hospitals to standardise the use of incredibly precise, patient specific 3D data that transforms their offerings for patients. Our AI technology has the power to impact millions of patients globally across patient specific applications in robotics, planning and patient specific device workflows."
“Axial3D’s pioneering technology that creates patient-specific 3D imaging has already shown incredible potential in the Medtech space,” said Bernie McGuire, Managing Director and IC Member of 57 Stars. “We are excited to support their ongoing technology application expansion and look forward to seeing the impact their innovations will make in advancing personalised healthcare.” He further added, “this is the latest deal out of our long-standing Northern Ireland investment program, which has now committed over USD 50 million, and a prime example of our investment thesis of finding compelling opportunities at the intersection of healthcare and technology.”
Neil McCabe, Director of Whiterock, added: “Axial3D’s technology addresses a critical need in healthcare—enabling scalability in personalised care. We’re proud to join this journey, supporting a company that is paving the way for more accessible and precise surgical solutions worldwide.”
