GI startup raises $30M

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Iterative Scopes bagged $30 million in series A funding to develop its artificial intelligence-powered gastroenterology and drug development technology, according to BioWorld. The startup landed investments from Obvious Ventures, Eli Lilly, Johnson & Johnson Innovation-JJDC, and venture capital firms Breyer Capital and Seae Ventures.

Iterative Scopes' algorithms currently offer two applications — one that assists clinicians in detecting polyps and another that uses colonoscopy images to help physicians determine a given patient's clinical trial eligibility.
The Cambridge, Mass.-based startup, born out of the Massachusetts Institute of Technology in 2017, has raised $43.5 million over nine rounds of funding.

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