Orbem Has Successfully Closed a 30 EUR Million Series A Funding Round
With its easily accessible AI innovation for scanning biological samples, the deep tech company Orbem aims to revolutionize the food, construction, and health industries, and has already successfully launched a solution that improves efficiency and fosters sustainability in the poultry industry — an area notorious for ethical concerns.
Genus, Orbem’s AI-powered MRI solution for the poultry industry, enables hatcheries to determine the sex of an egg in a completely contactless and non-invasive manner, delivering results in just one second per egg. To date, more than 21 million eggs have been scanned, and the company has already reached profitability.
Now, Orbem has successfully closed a Series A debt and equity funding round of 30 million EUR, led by 83North, with strong backing from La Famiglia, The Venture Collective, Possible Ventures, and some of Germany’s most prominent entrepreneurs.
Munich, October 11th, 2023 — Deep technology firm Orbem has raised 30 million EUR in its Series A funding round. The investment, led by global venture capital firm 83North, positions Orbem at the forefront of harnessing AI to industrialize MRI technology, making it more accessible, cost-effective, and efficient. New investor La Famiglia and existing investors The Venture Collective, Possible Ventures, and Dr. Rüdiger Schmidt also backed the round. Additionally, among Orbem’s investors are some of Germany’s most prominent entrepreneurs, including Personio co-founders Hanno Renner, Roman Schumacher and Chief Operating Officer Jonas Rieke, former Zalando CEO Rubin Ritter, Forto co-founders Michael Wax, Erik Muttersbach and Chief Operating Officer Dr. Michael Ardelt, Kinexon co-founders Dr. Alexander Hüttenbrink and Dr. Oliver Trinchera, and Bastian Nominacher, Co-CEO and Co-Founder of Celonis.
Orbem’s pioneering product, driven by AI-powered MRI technology, has the capability to scan a wide range of biological samples, encompassing food products like eggs and nuts, various plant species, construction materials such as timber, and even the human body. This innovative solution eliminates the need for human intervention in MRI imaging, as the AI system seamlessly takes on roles traditionally performed by technicians and radiologists. As a result, MRI procedures become several hundred times more cost-effective and faster, making them viable in a wide range of previously untapped markets.
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