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Medtech AI developer Ketryx raises $14M in Series A round led by Lightspeed

Ketryx has secured $14M in Series A funding, led by Lightspeed Venture Partners, with participation from MIT’s E14 Fund and Ubiquity Ventures, to advance its Connected Lifecycle Management platform. Designed for the life sciences industry, Ketryx automates quality assurance, regulatory compliance, and traceability, enabling faster, safer development of connected medical devices, AI-powered applications, and digital therapeutics.

Medical Design and Outsourcing

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December 5, 2023

Funding

Series A

This article originally appeared in Medical Design and Outsourcing News on December 5, 2023.

Investment fuels innovation to ensure patient safety and validate the use of AI in medical devices

BOSTON, Mass, December 5, 2023: Ketryx, provider of the first and only connected application lifecycle management software for the life sciences industry, today announced that it has raised $14 Million in Series A funding. The round was led by investor Lightspeed Venture Partners, with participation from existing investors including MIT’s E14 Fund and Ubiquity Ventures, bringing the total funding raised to date to over $18 Million. Lightspeed partner Guru Chahal will join the board. The new funds will be used to accelerate product development and commercial expansion.

The healthcare industry is embracing software and its promise to improve patient outcomes, including the power of Artificial Intelligence/Machine Learning (AI/ML). As a result, companies are grappling with how to maintain quality assurance and regulatory compliance as more frequent software updates are required and software complexity grows.

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