Startups integrating artificial intelligence into healthcare collectively received a record-breaking amount of funding from venture capital firms in the second quarter of 2019, according to a new report from CB Insights.
The first half of the year has already seen venture funding in healthcare companies reach new highs, according to the Global Healthcare Report, with AI-centric companies no exception. In the second quarter, healthcare AI startups received $864 million in venture capital across a total of 75 deals, up year-over-year from the $764 million the sector earned in the second quarter of 2018.
The report shows that much of the funding went to startups using AI in biotech and biopharma, including a $200 million deal for Chicago-based Tempus, $76 million to San Francisco's BlackThorn Therapeutics and $67 million for South San Francisco-based Frontier Medicines. AI-enabled imaging has also attracted plenty of venture funding; PathAI, a Boston-based developer of AI tools and services for pathology, raised $60 million in April.