AI Medical Service Funding, Investors & Competitors

AI Medical Service has raised $115M across 3 funding rounds, most recently a $63M Series C in April 2022.

Last AI Medical Service funding round

$63M

Series C · Apr 2022

Cumulative funding AI Medical Service raised

$115M

across 3 funding rounds

Key investors in AI Medical Service

  • Incubate Fund
  • Globis Capital Partners
  • World Innovation Lab
  • SoftBank Group
  • SMBC Venture Capital
  • Sony Innovation Fund
  • Daiwa Corporate Investment
  • SPARX Group

AI Medical Service Overview

About AI Medical Service

AI Medical Service is a Japanese startup developing AI software incorporating expertise from endoscopic specialists. The technology aids global advancements in endoscopic diagnostics and procedures.


Founded

2017

HQ

JapanTokyo

Website

ai-ms.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

AI Medical Service Funding History

AI Medical Service has raised a total of $115M across 3 funding rounds.

AI Medical Service's first fundraising round was a $9M Series A in August 2018. The most recent completed round was a $63M Series C in April 2022.

AI Medical Service funding rounds

AI Medical Service funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2022Series CSoftBank Group (lead); World Innovation Lab; Incubate Fund; Globis Capital Partners$63MAI Medical Service Inc. is a Tokyo-based med-tech company specializing in deep learning technology for developing endoscopic artificial intelligence tools. The company focuses on creating an AI decision support system for endoscopists screening for abnormalities, including early signs of gastrointestinal cancer across the digestive tract. GI cancer is responsible for over one-quarter of all cancer deaths worldwide and approximately 30% of cancer mortalities in Japan, making early detection critical for treatment success. In April 2022, AI Medical Service announced a Series C financing round of ¥8 billion (US$70 million) led by SoftBank Vision Fund 2, marking SVF2's first investment in a Japanese medical AI company. The round included participation from existing investors Globis Capital Partners, World Innovation Lab, and Incubate Fund. Proceeds were designated for accelerating global adoption of endoscopic AI and developing an in-house cloud-based proprietary platform to eliminate geographic and resource barriers in GI cancer screening. The company's platform aims to create a networked endoscopy system enabling patients to receive world-class endoscopic care anywhere globally. At the time of the Series C announcement, the solution was being distributed on-premise, with plans to transition to the cloud-based platform. CEO Tomohiro Tada framed the financing as enabling the company to enter the global stage confidently and contribute to advancing endoscopic medicine while increasing chances of early-stage cancer detection worldwide.
Oct 2019Series BGlobis Capital Partners (lead); Sony Innovation Fund (lead); Japan Lifeline; SPARX Group; World Innovation Lab; Japan Post Capital; Daiwa Corporate Investment; Innovation Growth Ventures; Ryoyo Electro Corporation; Aflac Global Ventures; SMBC Venture Capital$43MAI Medical Service, a Tokyo-based company founded in 2017, develops AI-based software using deep-learning convolutional neural networks to detect signs of gastric cancer and other gastrointestinal issues in real-time during endoscopy procedures, aiming to reduce missed lesions (15-30% rate) and doctor review time. The company announced a $42.9 million Series B funding round on October 4, 2019, led by Globis Capital Partners and Sony Innovation Fund, with participation from World Innovation Lab and others matching the queried investors. This round brought total funding to $57 million, following a $9 million round from Incubate Fund in August 2018. Proceeds from the Series B are allocated to clinical trials for regulatory approval, product development, and initial expansion into Asian markets like Singapore, Thailand, and Indonesia—where stomach cancer rates are high—followed by the U.S. and Canada. AI Medical Service collaborates with 80 medical institutions on joint research. The global endoscopy market grows at 10% annually, with Japanese manufacturers holding 70% share. Competitors like ai4gi, Olympus, and Shanghai Wision AI focus on colonoscopies, while AI Medical Service specializes in gastric cancer detection. Its first product seeks regulatory approval soon after the round.
Aug 2018Series AIncubate Fund (lead)$9MAI Medical Service is a Japanese medtech company developing AI-powered endoscopic decision support tools to detect gastrointestinal abnormalities, including early signs of cancer, aiming to reduce missed diagnoses. The company raised over $9 million in its Series A funding round in August 2018 from Incubate Fund. This round preceded a Series B in October 2019 and a $70 million Series C in April 2022 led by SoftBank Vision Fund 2 with participation from Incubate Fund, Globis Capital Partners, and World Innovation Lab. Total funding across four rounds reached $121.85 million as of 2022.

Who has invested in AI Medical Service?

13 investors have backed AI Medical Service across its funding rounds, including Incubate Fund, Globis Capital Partners, World Innovation Lab, SoftBank Group, SMBC Venture Capital and Sony Innovation Fund.

Lead investors include SoftBank Group, Globis Capital Partners, Sony Innovation Fund and Incubate Fund.


AI Medical Service Investors

Investors in AI Medical Service by funding rounds participated
InvestorHQRoundsRoleFirst check
World Innovation LabUnited StatesSan Francisco, CA2ParticipantOct 2019
Incubate FundJapanTokyo2LeadAug 2018
Globis Capital PartnersJapanTokyo2LeadOct 2019
Japan LifelineJapanTokyo1ParticipantOct 2019
SPARX GroupJapanTokyo1ParticipantOct 2019
SoftBank GroupJapanTokyo1LeadApr 2022
Japan Post CapitalJapanJapan1ParticipantOct 2019
Daiwa Corporate InvestmentJapanJapan1ParticipantOct 2019
Innovation Growth VenturesJapanTokyo1ParticipantOct 2019
Ryoyo Electro CorporationJapanTokyo1ParticipantOct 2019
Sony Innovation FundJapanTokyo1LeadOct 2019

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AI Medical Service Competitors

AI Medical Service competitors include listed companies like Tempus AI and SAP, and private ones like Commure, Abridge, Sword Health and EliseAI.

Public and private companies comparable to AI Medical Service
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Tempus AIUnited StatesUnited StatesPublicly listed$1.3B($131M)$15B10.1x
CommureUnited StatesSan Francisco, CAPrivate$200M-$7B35.0x
AbridgeUnited StatesPittsburgh, PAPrivate$117M-$5.3B45.3x
Sword HealthUnited StatesNew York City, NYPrivate$240M-$4B16.7x
EliseAIUnited StatesNew York City, NYPrivate$100M-$2.2B22.0x
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x

AI Medical Service Public Comps

AI Medical Service is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's, Nebius Group and Natera.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x
Moody's$7.7B$3.8B11.2x10.6x22.5x20.1x

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Common questions about AI Medical Service

When was AI Medical Service founded?AI Medical Service was founded in 2017.
Where is AI Medical Service headquartered?AI Medical Service is headquartered in Tokyo, Japan.
Is AI Medical Service publicly listed?No, AI Medical Service is a private, VC-backed company.
How much funding has AI Medical Service raised?AI Medical Service has raised $115M across 3 funding rounds.
What was AI Medical Service's last funding round?AI Medical Service's last funding round was a $63M Series C in April 2022, led by SoftBank Group.
Who are AI Medical Service's investors?AI Medical Service's investors include World Innovation Lab, Incubate Fund, Globis Capital Partners, Japan Lifeline, SPARX Group, SoftBank Group, Japan Post Capital, Daiwa Corporate Investment, Innovation Growth Ventures, Ryoyo Electro Corporation and 3 others.
Which companies are comparable to AI Medical Service?Companies comparable to AI Medical Service include Tempus AI, Commure, Abridge, Sword Health, EliseAI and SAP.

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