The National Reconstruction Fund Corporation has made its first funding foray into its medical science priority area with a $32 million equity investment in Harrison.ai, an artificial intelligence MedTech pioneer.
The NRF investment is a part of a $100 million-plus series C funding round, and will be used by Harrison.ai to develop additional products for its range of AI-based radiology and pathology diagnostics.
NRF Corporation chair Martijn Wilder said the investment would also help ensure that the Sydney-based Harrison.ai continued retained its operational base in Australia, growing a pipeline of jobs for local engineers, clinical AI experts and researchers.
Founded by brothers Dimitry and Aengus Tran, Harrison.ai has built its own large language model for reading X-rays and CT scans that supports the detection and diagnosis of medical conditions – including cancer – quickly and accurately.

The technology significantly increases the number of treatable cases and the survivability of patients, with the software currently used in more than 1,000 healthcare facilities worldwide.
“There is currently a severe global shortage of radiologists and pathologists, resulting in significant diagnostic delays that can have life-threatening consequences for patients,” Mr Wilder said.
“Harrison.ai’s technology provides medical professionals with a powerful tool to detect and diagnose medical conditions quickly and accurately, alleviating pain and saving lives.
“The funding will also allow Harrison.ai to continue expanding its services into other hospitals and healthcare facilities in Australia and around the world.”
Harrison.ai co-CEO Aengus Tran said Australia had the potential to take a global lead in clinical AI and that the investment would let the company accelerate the roll-out of its products across Australia and internationally.
The Harrison.ai investment is the latest in what has been a busy summer for the National Reconstruction Fun and follows the $100 million allocated in December with significant placements in companies like IoT specialist Myriota, quantum processor leader Quantum Brilliance and secure data operations outfit Vault Cloud.
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