# Optellum

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/optellum

- Industry: Software
- Headquarters: Oxford, UK
- Website: www.optellum.com
- Total disclosed funding: $21M
- Latest round: Series A (Aug 24, 2022)
- Investors on record: 7

## About

Optellum Ltd. develops AI-driven solutions aimed at enhancing early lung cancer diagnosis and patient management, significantly improving clinical decision-making and outcomes.Optellum Ltd. specializes in AI-powered tools for lung cancer diagnosis, having been founded in 2016 in Oxford, UK. The company has engaged in 2 funding deals, with the most recent on August 24, 2022, securing GBP 14.5 million in Series A funding led by Mercia Asset Management. Vaclav Potesil, the founder, has a history of involvement in healthcare technology ventures.Optellum specializes in advanced AI-powered solutions for early lung cancer diagnosis and patient management. The company's primary offering is the Virtual Nodule Clinic (VNC), which utilizes the Optellum Lung Cancer Prediction® (LCP) AI technology. This innovative platform is designed to discover, track, and assess the risk of malignancy in lung nodule patients, thereby enabling healthcare providers to prioritize cases effectively and reduce the time to diagnosis. By leveraging the world's largest chest CT datasets, Optellum's AI models enhance clinical decision-making, ultimately improving patient outcomes. The VNC is utilized by healthcare systems primarily in the United States and Europe, serving a diverse clientele, including hospitals and cancer care centers, to facilitate better management of lung disease.Optellum's revenue model is based on the deployment of its flagship product, the Virtual Nodule Clinic, through partnerships with healthcare providers. The company engages in direct sales and subscription agreements with clinical institutions, ensuring they have access to its AI solutions. Revenue is generated from licensing fees and service agreements, which allow healthcare providers to implement the VNC system within their existing frameworks. These financial arrangements support a continuous relationship between Optellum and its clients, necessitating ongoing training, support, and updates to the AI technology. The company’s strategic partnerships with institutions such as AtlantiCare further reinforce its market position, encouraging collaboration in advanced cancer care solutions.In August 2022, Optellum Ltd. raised GBP 14.5 million in Series A funding, which will be utilized to scale its base and operations, as well as to accelerate R&D and expand its platform into personalized therapy. The company is targeting expansion into new markets in the UK and USA, with plans to enhance its product offerings and increase its market presence.

## Funding rounds

- Series A, Aug 24, 2022, $17M — Mercia Asset Management, Oxford Investment Partners, IQ Capital, The Oxford Trust, Intuitive Ventures, Black Opal Ventures
- Seed, Apr 5, 2019, $4.1M — Oxford Investment Partners, IQ Capital, Luminous Ventures, The Oxford Trust

## Investors

- Oxford Investment Partners — Seed, Series A
- IQ Capital (https://capitalatlas.ai/funds/iq-capital) — Seed, Series A
- Luminous Ventures — Seed
- The Oxford Trust — Seed, Series A
- Mercia Asset Management (https://capitalatlas.ai/funds/mercia-asset-management) — Series A
- Intuitive Ventures (https://capitalatlas.ai/funds/intuitive-ventures) — Series A
- Black Opal Ventures (https://capitalatlas.ai/funds/black-opal-ventures) — Series A