Early cancer detection startup Craif raises $22M

Summary

Cancer ranks as one of the top causes of death worldwide. The National Cancer Institute reported nearly 20 million new cancer cases and 9.7 million cancer-related deaths globally in 2022, with projections showing a rise to 29.9 million new cases by 2040. Craif, spun off from Nagoya University in Japan in 2018, is using microRNA(miRNA) to develop an AI-powered early cancer detection software, and it has raised $22 million in Series C funding to expand further into the U.S. market and bolster its R&D. Ryuichi Onose, co-founder and CEO of Craif, told TechCrunch in an interview that the company completed its Series C funding round with a valuation of just under $100 million. X&KSK, an existing investor, led the latest funding, which brings its total raised to $57 million to date, along with the U.S.-based investor Unreasonable Group, its first investment in a Japanese startup, TAUNS Laboratories, Daiwa House Industry and Aozora Bank Group. Craif’s journey started when Onose saw how deeply cancer affected his family, with both his grandparents being diagnosed with the disease. These personal experiences have inspired a strong commitment to help address the cancer issue. Onose and Takao Yasui, an associate professor at Nagoya University, co-founded Craif just a month after they met. Yasui had created a new method for early cancer detection using urinary biomarkers. Early detection of a treatable condition can be challenging as traditional diagnostic methods like blood tests can be invasive, causing some people to avoid regular screening, Onose said. In addition, limited access to medical facilities in certain areas makes it challenging for individuals to easily obtain cancer testing, according to Onose. Craif aims to address these gaps by providing a non-invasive urine-based test that enables early cancer detection, even at a very early stage, like at Stage 1. “The test can be conducted from the comfort of a patient’s home and is powered by advanced microRNA analysis, mak...