Barcelona-based startup Sycai Medical raises €3 Million led by LUMO Labs and Ship2B Ventures to improve early diagnosis of cancer in the abdomen

Barcelona 23 January 2025, Sycai Medical today announced having successfully closed a €3 Million investment round from a pan-European consortium of LUMO Labs, Ship2B Ventures, Athos Capital and Namarel Ventures for the further development and roll-out of their AI-driven digital medical device that detects early cancer and pre-malignant lesions in the abdomen from medical imaging without any invasive test. Cancers of the pancreas, kidneys and liver are currently amongst the deadliest diseases because of the relatively late state from which detection is possible.

Where most other medical imaging applications are developed to be used by radiologists to confirm a specific diagnosis when they are looking for it, Sycai Medical is the only platform that looks for the lesions/pathologies even when no one is looking for it. It analyses every medical imaging test, even if it is performed for a completely different reason.

Sycai Medical software characterizes lesions which enables early diagnosis and automates patient monitoring. For oncologic patients under treatment, it helps healthcare professionals to better understand and quantify patient’s response to treatment. The software also allows for more accurate definition of benign lesions that will never develop cancer.

Sara Toledano, Sycai CEO & cofounder, “Successfully completing this investment round marks a significant milestone for us at a very strategic moment in the company’s evolution. We are currently undergoing a transformation from a product-driven to a business-driven organization, due to the MDR approval and initiation of commercial activities. We are confident that our new investors will play a pivotal role in fostering a refreshed mindset to support this transition.”

Sycai Medical operates from Barcelona and is already active in Spain and Italy. Its’ first clinical trial was successfully completed in 2023 and it obtained the CE mark under MDR in the summer of 2024 for the pancreas application.

The funds raised in this new investment round will be used to launch the already approved digital medical device in Europe, expand the scope of the current certified product from detection of early cancer and pre-malignant pancreatic lesions, to include hepatic and renal lesions, and to validate the product in the US and obtain FDA approval.

“Eary diagnosis and targeted cures are key for the quality of life of a patient but also improve the circumstances for caregivers and even the efficiency of how our healthcare system is organised.” Says Sven Bakkes, Founding Partner LUMO Labs. “We have looked at similar research and technologies across Europe and concluded that the accuracy, hardware agnostic approach, and scalability of Sycai Medical is unmatched.”

Jorge Blasco, Partner LUMO Labs for Spain and Portugal, adds: “Also the commitment and drive of the team is exceptional. From the very start of the development of the product they were present directly in hospitals and listening to doctors and patients non-stop to make sure they were building something that really helps people. I am very much looking forward to working with them on behalf of LUMO here in Barcelona.”

Investment Director at Ship2B Ventures Jordi Ferrer adds: “We are thrilled to keep supporting Sycai in its incredible journey to anticipate and enlighten abdominal cancer diagnosis through imaging. The founding team has proven to perform above expectations. The addition of international investors also brings the project to the next level. It’s a pleasure to be part of it and we look forward to achieving new milestones as the company grows.”