Stockholm-based health tech company Corsmed has raised $3.5 million in seed funding from Luminar Ventures and Big Pi Ventures to further develop its groundbreaking MRI (Magnetic Resonance Imaging) technology. Corsmed’s software reduces MRI scan times from the traditional 45 minutes to just 2-3 minutes while improving diagnostic precision. The funding will accelerate product development and regulatory approval as the company aims to integrate its technology into routine healthcare practices globally.
Founded in Sweden in 2016, Corsmed specializes in cutting-edge MRI (Magnetic Resonance Imaging) simulation technology designed to advance healthcare accessibility and safety. Known as the “flight simulator of MR,” Corsmed provides innovative, software-driven solutions that eliminate the need for additional hardware, making MRI education and diagnostics more efficient and cost-effective.
With a focus on preventive healthcare, Corsmed’s mission is to make high-quality MRI scans faster, more affordable, and universally accessible. Their technology enhances diagnostic accuracy while improving the training and upskilling of medical professionals globally. As an impact-driven startup, Corsmed strives to revolutionize healthcare delivery and promote better health outcomes for everyone, everywhere.
MRI scans are often reserved for critical diagnoses, such as cancer or neurological disorders, due to their high costs and lengthy procedures. Corsmed’s technology is set to change that, enabling a shift from reactive healthcare to preventive care.
CEO Erik Jacobsson highlights the life-saving potential: “If you catch pancreatic cancer early, you’re 10 times more likely to survive it. About 50k-100k lives are lost every day to disease that would be treatable, if you found it in time. Today there are around 100m scans done globally a year, but to cover what’s needed in today’s reactive healthcare, you’d need to increase that number to 1bn. To make it available as a preventive measure you would need to increase it by a likely tenfold again.”
Corsmed’s software works with existing MRI scanners, eliminating the need for additional hardware and making it cost-effective for hospitals and clinics. By replacing traditional signal processing methods with a physics-based, computation-heavy approach, the technology collects far more data per scan, enhancing the accuracy of diagnoses. This breakthrough is expected to reduce false positives and negatives, particularly in longitudinal studies that track patients over time.
The company’s first product, an MRI simulator, is already in use at over 50 institutions, including cancer hospitals and medical training academies. It has logged more than 80,000 hours of simulated MRI time, helping to upskill healthcare professionals while reducing the need for live scanner usage. Customers include the Christie NHS Foundation Trust in Manchester, UK, and leading medical academies in California.
The $3.5 million funding will fuel Corsmed’s next phase of development, including its application for FDA approval in the United States, expected in 2025. This approval will be a significant step toward integrating Corsmed’s technology into public healthcare systems and making preventive MRI scans routine.
Jacobsson underscores the stakes: “Until we can make MRI routinely accessible for everyone, we’ll continue to see preventable mortality pile up. Imagine a world where routine, whole-body scans detect cancer and other life-threatening diseases at their earliest stages, giving everyone a fair shot at a long and healthy life. That’s the future we’re building toward.”
Corsmed’s mission aligns with global healthcare trends emphasizing early detection and prevention. With its innovative approach, the company is poised to revolutionize medical imaging and improve health outcomes on a global scale.
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Read the orginal article: https://arcticstartup.com/corsmed-raises-3-5m/
