ArteraAI Secures $20 Million

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; ArteraAI&comma; a developer of multimodal artificial intelligence &lpar;MMAI&rpar; based predictive and prognostic cancer tests&comma; has secured an additional &dollar;20 million in capital fueled by several prominent large investment funds including Prosperity7 Ventures&comma; Singapore-based global investor EDBI&comma; Walden Catalyst Ventures&comma; Wilson Sonsini Goodrich &amp&semi; Rosati&comma; and Trium Ventures&comma; along with investors Navin Chaddha&comma; Rajiv Khemani &lpar;AISpace VC&rpar;&comma; and Andrew &amp&semi; Elliott Tan &lpar;A&amp&semi;E Investment LLC&rpar;&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The infusion of this additional funding is a crucial catalyst&comma; propelling ArteraAI forward in its mission to personalize cancer therapy through AI-enabled predictive and prognostic tests&comma;” said Andre Esteva&comma; CEO and Co-Founder of ArteraAI&period; &OpenCurlyDoubleQuote;We are committed to ushering in the era of precision medicine&comma; and stewarding this investment strategically to aid in our international expansion and commercial growth&period;”<&sol;p>&NewLine;<p>This funding announcement follows closely on the heels of ArteraAI&&num;8217&semi;s recent achievement of the Centers for Medicare and Medicaid Services &lpar;CMS&rpar; decision on the payment rate for the ArteraAI Prostate Test&period; The decision helps to ensure broader accessibility to AI-enabled personalized care&comma; benefiting a larger population&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Investing in ArteraAI wasn&&num;8217&semi;t just a financial decision&comma; but a testament to ArteraAI which is globally revolutionizing patient care&comma;” said Abhishek Shukla at Prosperity7 Ventures&period; &OpenCurlyDoubleQuote;We are thrilled to be part of the journey as ArteraAI continues its mission to provide patients with access to personalized cancer treatment plans&period;”<&sol;p>&NewLine;<p>Less than a year ago&comma; ArteraAI emerged from stealth mode with an initial funding of &dollar;90 million&period; Since then&comma; the company has made significant strides&comma; obtaining a Medicare payment rate&comma; growing distribution and establishing a solid foundation for international expansion through strategic global partnerships to continue its research&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;ArteraAI’s AI-driven tests represent a transformative approach to designing tailored cancer care regimens&period; This offers a glimpse into the future where cancer care is truly personalized&comma; aligning with Singapore’s efforts to digitize healthcare and harness AI to enable precision medicine&comma;” said Dr&period; Jolene Ooi&comma; Senior Principal at EDBI&period; &OpenCurlyDoubleQuote;We are excited to be part of their growth story and look forward to supporting its foray into Asia&period;”<&sol;p>&NewLine;