Vision

RAYSCAPE aims to become a leader in AI-powered cancer diagnostics by expanding across Westen Europe and the US and delivering solutions that significantly improve patient outcomes. Over the next 2-3 years, the company plans  to enter the US market, scale globally, and add new AI capabilities to solidify the position as a top provider of AI in radiology and oncology.

Opportunity

Radiologists and oncology-focused healthcare institutions are overwhelmed by a +1300% surge in imaging data, leading to diagnostic errors, delays, and rising healthcare costs.

RAYSCAPE addresses this need, improving diagnostic workflows and reliability while fitting seamlessly into the existing operational budgets hospitals for technology upgrades.

Market

RAYSCAPE operates in a rapidly growing radiology AI market with a SAM of €200M, covering EU and near-term US oncology-focused radiology workflows. The current TAM stands at €500M for regulated products, expanding to €3.0B once the full-body oncology AI platform under development is complete. With a SOM of €100M (calculated bottom-up: ~5,000 hospitals × ~€20,000 ACV) and a market growing at ~30% CAGR, driven by AI adoption in radiology and oncology, Rayscape is well-positioned to capture a significant share as it expands its product pipeline and enters the US market.

Traction

In the past year, business scaled to 210 clinical integrations and surpassed €1.56M in contracted ARR, with 36% coming from non-native markets. The US expansion is ongoing with a deployment at Harvard-affiliated Mass General Brigham.

Differentiators

RAYSCAPE differentiates  by offering an end-to-end oncological care pathway, moving beyond isolated imaging tools to deliver integrated diagnostics that enhance patient outcomes in an otherwise fragmented market.

Use of Funds

With the money from this round the company plans to scale to €4M annual recurring revenue, establish a bridgehead into the US market by clearing FDA and start working with 10 hospitals. Furthermore, a major technological breakthrough is expected to be deployed in the product expanding the range of services that are provided to the existing customer base.

Risk Registry

Entering US would mean a massive step forward, however it is a hyper-competitive market so there is no guarantee that the company can replicate across the Atlantic the leadership position they achieved in CEE.

Exit

Most likely exit scenario is to a radiology medical device producer (GE, Philips, Siemens)

Other potential exit scenarios are:

• Large, US Based Healthcare organisations;
• Competitors that would like to enter the CEE Market.