AI Seed Delivers Record-Breaking Return: 48x in 3 Years as Olympus Buys Odin Vision for $80M

• AI Seed portfolio company Odin Vision acquired by Olympus Corporation
• AI for medical imaging deal worth $80M
• Highest exit valuation of an AI company in endoscopic imaging to date
• Exit delivers a 48x return to investors in 3 years

Tokyo, Japan. Friday, 30 June 2023:  Europe’s number one pure-play, vertical AI venture capital firm, AI Seed, has successfully exited its AI for medical imaging investment, Odin Vision.

Odin Vision, the world’s leading AI for cancer detection and diagnosis in endoscopic imaging, was acquired by Japanese multinational Olympus Corporation, the world's largest manufacturer of endoscopes and endoscopic equipment, in a deal worth $80M.

The acquisition of Odin Vision breaks the record for the highest exit valuation of an AI company in endoscopic imaging to date, and AI Seed delivered a 48x return to investors in 3 years with its investment in the company.

In addition to delivering financial rewards to its investors, Odin Vision’s AI is saving lives. It is clinically proven to significantly increase cancer detection rates, leading to earlier diagnosis and treatment of life-threatening colorectal cancer.

Since the acquisition, Olympus Corporation has expanded Odin Vision’s AI into a suite of innovative cloud-based AI endoscopic medical products and services benefiting the clinical care and treatment outcomes of cancer patients across the globe.

Commenting on the successful exit, AI Seed’s Founder and Managing Partner Michael Axelgaard said:

“When we met Odin Vision’s founder Peter Mountney and his team, it was clear to us how impactful their AI would be. Their scientific and research-focused approach suited the highly  specialized field of endoscopic medical imaging, and their initial data demonstrating a step-change increase in cancer detection rates made a compelling investment case.

“AI Seed’s investment strategy is focused on AI companies like Odin Vision with unique and defensible AI that make a transformative difference in solving an important real-world problem, here a step-change improvement in the detection of colorectal cancer. We also love AI that has a clear benefit to society.

“We are delighted by the success Peter and his team have achieved, and the acquisition of their AI by Olympus Corporation will enable their technology to improve the lives of cancer patients across the globe. At AI Seed, we believe vertical AI companies like Odin Vision will have a transformative impact in every industry, from AI for healthcare and AI for fintech to AI for energy and AI for agritech.”