From the PSL ecosystem to an international group: start-up Gleamer acquired for €230 million
The French medtech company Gleamer, which specialises in artificial intelligence for radiological diagnosis, has just been acquired by the US giant RadNet for €230 million. This major deal underscores the global appeal of innovation stemming from French Tech – and more specifically from the PSL ecosystem.
A success story built on the early support of the PSL Innovation Fund and Elaia Partners
Long before coming to the attention of an international group, Gleamer had, since 2018, benefited from the support of the PSL Innovation Fund, a seed fund created by PSL and managed by Elaia Partners. The fund had participated in the €1.5 million seed round, alongside XAnge, Bpifrance and several business angels, enabling the start-up to bring its first clinical AI solution for radiologists to market.
This investment was fully in line with the PSL Innovation Fund’s mission: to support deep-tech projects led by PSL’s laboratories, students and researchers, particularly in the fields of AI and digital health.
A CEO who was part of the PSL Pépite programme in 2016/2017
The career of co-founder and CEO Christian Allouche perfectly illustrates the pivotal role played by PSL in the emergence of young deep-tech start-ups.
In fact, he was supported by the PSL Pépite student entrepreneurship hub during the 2016/2017 academic year, where he developed his first entrepreneurial ventures. This experience enabled him to benefit from the University’s environment dedicated to student entrepreneurs and to access structured support – a crucial springboard prior to the launch of Gleamer in 2017.
This programme demonstrates the continuity between PSL’s support schemes, which range from student entrepreneurship, through the PSL Pépite hub, to seed funding, via the PSL Innovation Fund.
From the laboratory to a major exit: a model for PSL start-ups
Founded in 2017, Gleamer has established itself as a global leader in radiological AI. With a range of clinical solutions capable of automating the analysis of medical images, the start-up has successfully addressed a growing international need: to reconcile the massive increase in the volume of examinations with the shortage of radiologists.
At the time of its acquisition, Gleamer had over 700 clients in 44 countries and a comprehensive portfolio of certified solutions for X-ray, mammography, MRI and CT scanning.
Integration into DeepHealth, RadNet’s AI subsidiary, will now enable the clinical impact of its solutions to be expanded even further.
L'Université PSL, an ecosystem that nurtures deep tech champions
Gleamer’s success highlights the coherence of the support programmes and funding chain offered by PSL, and the impact of the partnership with Elaia, a long-standing investor in deep-tech companies emerging from the academic ecosystem.
With this major success, PSL and Elaia have once again demonstrated their ability to nurture start-ups capable of becoming international leaders, as evidenced by Gleamer’s exemplary trajectory.