Skin Analytics Secures £15m to Revolutionize Dermatology
Deal News | Apr 16, 2025 | Business Cloud
Skin Analytics, a UK-based MedTech firm, has raised £15 million in Series B funding led by Intrepid Growth Partners. Following its groundbreaking EU MDR Class III CE mark approval, Skin Analytics will invest in expanding its AI medical device, DERM, which diagnoses skin cancer independent of human intervention. This financing will fuel their efforts to broaden the reach of their dermatology-focused products both in Europe and new international markets, including the US and Australia, where dermatologist shortages are prevalent. Already deployed at 26 NHS locations, the technology has diagnosed over 14,000 skin cancers among more than 150,000 patients. CEO Neil Daly envisions a future with universal access to dermatological care, reducing the burden on healthcare systems by addressing the specialist gap. Mark Machin of Intrepid Growth Partners highlighted the investment as part of their mission to support transformative machine intelligence that can redefine healthcare outcomes.
Sectors
- MedTech
- Artificial Intelligence
- Healthcare
Geography
- United Kingdom – Skin Analytics is a London-based company and their technology is deployed in NHS sites across the UK.
- Europe – The article mentions plans for expansion in European markets where there is a shortage of dermatologists.
- Australia – Australia is identified as a target market for expansion due to similar challenges faced with dermatologist shortages.
- United States – The article states plans to accelerate entry into the US market, making it a key geography for their business growth.
Industry
- MedTech – The article discusses a medical technology company, Skin Analytics, that is developing AI-based dermatology solutions.
- Artificial Intelligence – The core focus of the article is on the use of AI in medical diagnostics, particularly in dermatology for skin cancer detection.
- Healthcare – The company's operations are within the healthcare sector, aiming to improve patient outcomes and address specialist scarcity in dermatology.
Financials
- £15 million – The sum raised in Series B funding by Skin Analytics to expand its dermatology product range and international market reach.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Skin Analytics | Target Company | Company | A MedTech company developing AI medical devices for dermatology, particularly focused on skin cancer detection. |
| Intrepid Growth Partners | Investor | Company | A private equity firm that led the £15 million Series B funding round for Skin Analytics. |
| Neil Daly | CEO | Person | Founder and CEO of Skin Analytics, leading the company's mission to transform dermatology through AI. |
| Mark Machin | Managing Partner | Person | Co-founder & managing partner at Intrepid Growth Partners, involved in backing transformative AI healthcare solutions. |