AI-enabled early breast cancer detection platform Vara has announced a successful fundraising round of $8.9 million, marking a significant milestone in the company’s journey toward revolutionizing breast cancer screening. Founded in 2018 by Jonas Muff, who serves as CEO, and Stefan Bunk, CTO, Vara operates from its headquarters in Berlin, Germany, with additional offices in India. The company’s innovative AI-powered software is designed to enhance both the accuracy and efficiency of breast cancer detection, making a meaningful impact in healthcare.
Vara’s software has been integrated into Germany’s National Breast Cancer Screening Program, where it plays a crucial role in supporting 40 percent of the country’s screening centers. This integration represents a landmark achievement, as Vara is the only AI system deployed at scale within the program, directly benefiting over 80,000 women each month. The application of Vara’s technology has led to impressive key outcomes, including the assessment of more than 100,000 images per month, significantly increased cancer detection rates, and a notable reduction in false positives. Importantly, the AI system has identified 50 percent of cancers that would otherwise have gone undetected by radiologists, demonstrating its life-saving potential. Additionally, Vara’s technology has enhanced workflow efficiency for radiologists, allowing them to focus on critical tasks and improve patient care.
In its pursuit of growth, Vara is expanding into emerging healthcare markets, with a particular focus on India. The company initiated a partnership with NM Medical in 2023, a leading provider of imaging services in major Indian cities such as Mumbai, Bangalore, and Pune. This collaboration aims to elevate the standard of preventive care and improve early breast cancer detection in India, emphasizing the importance of mammography as a cornerstone of women’s health programs.
Commenting on the recent fundraising, CEO Jonas Muff stated, “This raise, which is particularly significant in today’s economic climate, not only validates our technology but enables us to accelerate Vara’s expansion for global impact. We’re extremely pleased with the outcomes we’re already seeing with our partners in healthcare, and we look forward to sharing more progress soon.” The financing round was co-led by the impact funds of IBB Ventures and several European family offices, including Smart Family Office from Austria and FJH from Germany. Ute Mercker, Investment Director at IBB Ventures, highlighted Vara’s alignment with their impact fund’s goals by noting, “By combining an AI-driven screening approach with proven medical evidence and commercialization in emerging markets, Vara is an excellent fit for the goals of our impact fund.”
In addition to the fundraising news, Vara has recently published a pivotal study titled “Strategies for integrating artificial intelligence into mammography screening programmes: a retrospective simulation analysis” in The Lancet Digital Health. This study evaluates the integration of AI into mammography screening using nearly two million datasets from the UK, Sweden, and Germany. The findings indicate significant improvements across all key screening parameters, including enhanced cancer detection rates, reduced recall rates, and decreased workloads for radiologists.
As Vara continues to innovate and expand its reach, the implications of its work are profound, potentially transforming the landscape of breast cancer detection and preventive care on a global scale. The combination of advanced AI technology with a strong commitment to ethical healthcare practices positions Vara as a leader in the field, dedicated to improving outcomes for women around the world.