Olympus' capital fund, Olympus Innovation Ventures, has participated in series A funding for Virgo Surgical Video Solutions, a company that specializes in artificial intelligence-powered endoscopy technology.
This is Olympus Innovation Ventures' first investment, and they plan to provide capital for "emerging digital, device and diagnostic companies in minimally invasive detection and treatment of disease in gastroenterology, urology, respiratory care and other clinical areas" going forward, according to a July 27 press release.
Gastroenterologists are able to use Virgo's platform to record endoscopic procedures and use the video data and AI to better identify and treat patient needs.
"We will leverage this investment for our mission to improve patient outcomes and clinical workflows by developing automation and AI tools for endoscopy," Matt Schwartz, Virgo's co-founder and CEO, said in the release.