Harrison.ai, an Australian healthcare startup developing its own proprietary large language models, has raised $112 million in Series C funding led by Aware Super, ECP and Horizons Ventures.
The new capital comes amid a bump in mega-rounds for AI healthcare startups and an overall increase in funding for healthtech companies. It reached $31.6 billion in 2024, up from $30.5 billion, according to PitchBook data.
Harrison.ai’s large language model helps radiologists interpret exams and test results. Offering a chat assistant for doctors, the startup also has AI-enabled tools for pathologists that help identify diseases and detect cancers.
Recent large funding rounds in the space include AI drug development startup Formation Bio‘s $372 million Series D round in June; Freenome, a machine learning-enabled cancer screening and treatment plan company that received a $254 million Series F in February 2024; and Treeline Biosciences, which raised $400 million in October for its software that uses AI to simulate how chemical compounds interact with each other in new drug formulations. Mega-rounds nevertheless declined by 12% in 2024, from 3,675 deals to 3,235 deals, according to PitchBook data.
Harrison.ai declined to provide a valuation and has not disclosed one since its founding in 2018. PitchBook previously valued the startup at $314.7 million following its Series B.
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