# Lucida Medical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lucida-medical

- Industry: Medical Devices & Equipment
- Headquarters: Cambridge, UK
- Website: www.lucidamedical.com
- Total disclosed funding: $14M
- Latest round: Series A (Mar 2, 2026)
- Investors on record: 4

## About

Based in the UK, Lucida Medical Ltd develops advanced AI systems aimed at improving the detection and diagnosis of prostate cancer through innovative MRI technology. Based in Cambridge, UK, founded in 2019, by its co-founder Antony Rix and Evis Sala, Lucida Medical Ltd focuses on enhancing cancer diagnosis through its AI-driven solutions. In March 2026, Lucida Medical Ltd raised GBP 8.7 million in series A funding led by IW Capital, with participation from XTX Ventures and Macmillan Cancer Support. Antony Rix, who also serves as the CEO, bringing prior experience in leading tech-driven healthcare innovations. Lucida Medical specializes in developing advanced artificial intelligence (AI) systems designed to enhance the detection and diagnosis of prostate cancer through MRI technology. The company's flagship product, Pi™, is engineered to operate at the level of expert radiologists, effectively processing multi-centre data from various MRI scanner vendors and models. This AI solution has been clinically validated, demonstrating a 95% sensitivity and 67% specificity in identifying clinically significant prostate cancers. Lucida Medical's technology is primarily utilized by healthcare providers within the NHS and private hospital systems across the United Kingdom, as well as in international markets. These systems aim to streamline the patient care pathway by expediting cancer diagnosis, thereby allowing clinicians to offer timely treatment options, such as same-day biopsies, enhancing the overall efficiency of prostate cancer management. Lucida Medical generates revenue through B2B partnerships with healthcare institutions, specifically NHS hospitals and private clinics, which integrate the Pi™ system into their diagnostic workflows. The revenue model includes subscription agreements for ongoing access to the AI technology and potential licensing fees associated with utilizing their proprietary software in clinical settings. As healthcare institutions adopt Pi™, they incur transactional costs related to software implementation, training, and ongoing support services. These financial arrangements facilitate the delivery of innovative diagnostic solutions directly to healthcare providers, thereby reinforcing the value of AI in enhancing diagnostic accuracy and operational efficiency in prostate cancer care. The company plans to utilize the March 2026 funding to grow its AI diagnostic platform, develop tools for more cancer types, and seek FDA approval for broader and quicker cancer diagnosis.

## Funding rounds

- Series A, Mar 2, 2026, $12M — Macmillan Cancer Support, IW Capital, XTX Ventures
- Seed, Feb 25, 2021, $2.4M — XTX Ventures, Prostate Cancer Research

## Investors

- XTX Ventures (https://capitalatlas.ai/funds/xtx-ventures) — Seed, Series A
- Prostate Cancer Research — Seed
- Macmillan Cancer Support — Series A
- IW Capital (https://capitalatlas.ai/funds/iw-capital) — Series A