Deciphex, an AI-powered digital pathology startup, has raised a €31M Series C round led by Molten Ventures. The round also featured significant participation from ACT Venture Capital, Seroba, Charles River Laboratories, IRRUS Investments, HBAN Medtech Syndicate and Nextsteps Capital.

The funding will allow Deciphex to develop its global network of pathologists, hoping to reduce healthcare systems’ backlogs globally. Deciphex claims its products enable pathologists to work up to 40% faster while maintaining diagnostic accuracy.

Its flagship products are Diagnexia and Patholytix. The former connects global subspecialty pathologists for rapid diagnostics and backlog reduction, while Patholytix accelerates drug development through optimized preclinical safety assessments. By automating routine tasks, these platforms enable pathologists to focus on complex cases while delivering faster, more reliable diagnoses.

Donal O’Shea, Founder and CEO of Deciphex, commented: “This investment accelerates our mission to transform global pathology access. Our ergonomic, AI-enabled platform enhances diagnostic workflow and accuracy – allowing experts to clear backlogs faster without compromising quality. By expanding this technology worldwide, we’re not just improving healthcare efficiency, we’re supporting both the pathologists who drive diagnoses and the patients who depend on them.”

Inga Deakin, Investor at Molten Ventures, the lead investor, added: “Deciphex is tackling one of healthcare’s most pressing issues. By supporting pathologists with AI tools that enhance efficiency without sacrificing accuracy, Deciphex offers a much-needed solution to the diagnostic burden facing pathologists around the world. We’re thrilled to support Deciphex in bringing these critical diagnostic services to those who need it most.”