Irish AI health tech company, xWave Technologies, is seeking to raise €3 million in a new funding round to accelerate commercial expansion across the UK and Ireland.

xWave Technologies, headquartered at NovaUCD in Dublin, has secured contracts with over 20 NHS Trusts in the UK for deployment of its diagnostic decision-making platform since the company entered the UK market in 2023. Among its clients is the Yorkshire Imaging Collaborative, one of the UK’s largest and most advanced regional imaging networks, spanning 24 hospitals and six NHS Trusts, covering a population of more than 2.7 million people. The UCD start-up is now planning to accelerate the rollout of its diagnostic decision-making platform across the NHS, the HSE, and international markets.

xWave Technologies CEO Mitchell O’Gorman said: “Once we have secured the funding, we are planning to expand our team by 30 people over the next three years to support regulatory milestones, deepen NHS deployment and accelerate commercial expansion across new diagnostic specialities. We are targeting more than €15 million ARR within the next three years, supported by a growing sales pipeline, multi-year NHS contracts and increasing demand for AI-enabled diagnostic workflow tools.”

xWave has developed a suite of AI-driven products that support the diagnostic pathway end-to-end, reducing the administrative burden on radiology teams through automated operational workflows, and enabling clinical audit at scale.

Originally focused on radiology referrals, xWave is now expanding its clinical decision support capabilities into other specialties. The company recently secured its first contract in pathology.

“This is a defining moment for xWave. We have gone from two products to five, tripled our ARR, expanded across more than 20 NHS Trusts and now won our first contracts outside radiology. Our mission is simple, to make sure every patient gets the best test first. We are now seeking to raise €3 million in a new funding round to help us scale that mission across the UK, Ireland and beyond,” Mr O’Gorman said.

“Diagnostics is one of the biggest bottlenecks in modern healthcare,” said Professor Ronan Killeen, consultant radiologist and xWave’s Chief Medical Officer. “xWave is building the infrastructure layer to help health systems manage demand, improve referral quality, reduce waste and support clinicians in choosing the right test first. Radiology was the starting point, but the need for better diagnostic decision-making exists across every speciality”.

xWave is also a partner in the AINM project, led by the UCD Clinical Research Centre, which was awarded €9.1 million under Call 7 of the Disruptive Technologies Innovation Fund. The project is focused on developing AI-enabled clinical decision support across radiology, pathology, cardiology, endoscopy and the physiological sciences.