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Deciphex, an Irish company that specializes in AI-driven digital pathology solutions, has completed its Series C financing round with a successful $32.3 million raise. This investment will be used to address the critical pathology shortage worldwide by advancing Deciphex’s mission to democratize access to high-quality pathology services through technology.
Company Overview
Founded in 2017, Deciphex has been at the forefront of integrating artificial intelligence into digital pathology. The company’s primary platforms include Diagnexia, a global digital pathology network that expands subspecialty expertise and reduces diagnostic backlogs, and Patholytix, a preclinical platform that accelerates drug development through AI-powered workflows. By automating routine tasks, these platforms enable pathologists to focus on complex cases, delivering faster and more reliable diagnoses.
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Funding detail
Leading the Series C funding round was Molten Ventures, a well recognized venture capital organization with a history of investing in new technology businesses. ACT Venture Capital, Seroba, Charles River Laboratories, IRRUS Investments, HBAN Medtech Syndicate, and Nextsteps Capital also significantly participated in this funding round. A blend of investors serving as testament to the high level of confidence in Deciphex’s vision as well as in the company’s ability to revolutionize pathology services worldwide.
Addressing the Global Pathology Crisis
Pathology is the backbone of medical diagnostics, with more than 70% of healthcare decisions requiring pathology investigation. However, there is a growing gap between increasing patient needs and the dwindling number of pathologists, resulting in huge backlogs in healthcare systems across the globe.
Deciphex’s AI-powered digital pathology solutions aim to bridge this gap by enabling pathologists to work up to 40% faster while maintaining diagnostic accuracy. This efficiency is not only decreasing diagnostic delays but also enhancing patient care delivery on a global scale.
Strategic Objectives Post-Funding
Deciphex, with the influx of $32.3 million, has detailed the following strategic initiatives:
- Scaling global service reach: It would scale the US, UK, EU, Canada, and Japan for expansion as there is increasing demand for digital pathology solutions.With a growing reach in different countries, there would be enhanced access to expert diagnostics and research services addressing the pressing healthcare and pharmaceutical needs globally.
- Enhancing Platform Utility: Deciphex will enhance its core platforms, Diagnexia and Patholytix, to drive efficiency and innovation in pathology services worldwide. Diagnexia expands subspecialty expertise and reduces diagnostic backlogs, while Patholytix accelerates drug development through AI-powered workflows.
- Accelerating Pathology AI Model Development: The company will leverage its extensive pathology image repository to develop foundational AI models, improving both speed and accuracy for clinical and non-clinical applications.
- Strengthening Industry Partnerships: Deciphex looks to strengthen its strategic partnerships with industry leaders like Novartis and Charles River Laboratories, further developing AI models for toxicology and preclinical safety evaluation.
- Expansion of services to Pharma/Biotech and CRO Clients: The company will expand its clinical research capabilities to enable efficient clinical trials, biomarker discovery and validation, and unlock insights from clinical archives to drive innovation.
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Leadership Perspectives
Donal O’Shea, Co-founder and CEO of Deciphex, explained why: “This investment further propels our mission toward transforming global pathology access. Our ergonomically designed, AI-powered platform optimizes the diagnostic workflow and improves its accuracy—now helping experts clear backlogs without sacrificing quality. Bringing this technology to a broader global scale is not just about the efficiency of healthcare; it’s about supporting pathologists who drive diagnoses and patients who rely on them.”
“The company is focused on one of the most difficult problems in health care. This is providing a much-needed answer to the massive diagnostic burden of pathologists working around the globe. By aiding the pathologists using AI tools for efficiency without jeopardizing accuracy, Deciphex is the first step in doing so. It is a significant pleasure to partner with Deciphex to get these life-critical diagnostic services into the hands of those who desperately need them.”
Future Projections
Looking ahead, Deciphex will play a central role in revolutionizing pathology services around the globe. Committing to innovation, strategic expansion, and deepening industry partnerships has placed Deciphex in an effective position to combat the pathology shortage in the global sector. Enhanced diagnostic workflows and expanded access to high-quality pathology services through Deciphex are bound to positively change healthcare delivery and patient outcomes in the future
Summary
The $32.3 million Deciphex achieved in its successful Series C funding is a hallmark for the firm as it strives to transform pathology services with AI-based digital solutions. It plans strategically to expand geographically, improve the platforms, and create advanced AI models that could be of value in filling up the acute shortfall of pathologists, enhancing the efficiency, and making diagnostic procedures accurate. The firm’s continuous growth and innovation hold much promise in transforming the landscape of healthcare diagnostics.