AI startup that streamlines medical device compliance raises $39M

A Boston-based startup aiming to make medical device compliance easy and seamless has received $39 million in venture capital funding.

Ketryx recently closed its the Series B funding round, bringing the startup’s total funding to over $55 million. The round was led by Transformation Capital, with participation from existing investors including Lightspeed Venture Partners, MIT’s E14 Fund, Ubiquity Ventures and 53 Stations.

Ketryx founder and CEO Erez Kaminski says that updating medical device software often includes a lengthy process to show compliance, potentially rendering new ideas obsolete by the time it’s complete. It also forces lab scientists to spend more time on regulatory paperwork than on actual lab work, according to Kaminski.