xWave, the Dublin health-tech start-up which last week announced €1.3 million of investment, is already planning a fresh, bigger funding round to scale a new artificial intelligence product which it believes will be “revolutionary” for healthcare globally.
xWave, which is based at NovaUCD, has recently submitted an international patent application in partnership with the university to use AI and machine learning to build out the next generation of diagnostic referral tools. xRefer, is a smart radiology platform which helps doctors decide the most appropriate scan for their patients’ needs using what the company describes as “market-leading evidence”.
“As an example of how big this is, in the US alone somewhere between $7 million and $12 billion is spent every year on unnecessary radiology testing,” O’Gorman said. “That shows the scale of the problem we’re looking to solve.”