This morning, Renalytix AI announced its £22m fundraise through an IPO on the AIM market. Renalytix AI is a provider of artificial intelligence-enabled clinical decision support tools for kidney care. This IPO has been achieved prior to the business releasing its solution to the marketplace or generating any revenue.

Our recent AI report predicted that we are on the edge of an AI mega trend that will drive global productivity and corporate profitability across multiple sectors. AI in M&A is certainly featuring more heavily in our conversations with acquirers and investors. Our report marked healthcare as a relatively low performing sector in terms of AI adoption to date. The Renalytix IPO comes hot on the heels of the recent £225m ‘healthcare AI IPO’ of software licensing business Sensyne Health. Both of these demonstrate the huge potential for AI businesses to raise funds in order to improve global health outcomes.

Take a look at our report to see how your sector can better use AI.