Dublin-based Deciphex, a company specialised in AI-powered digital pathology, has secured €15M from Claret Capital Partners.
Claret Capital Partners is Europe’s largest independent growth debt fund manager.
Since 2013, the Claret funds have backed over 190 SMEs in the technology, life sciences and climate tech sectors, from a wide range of geographies across Europe.
Joey Mason, Venture Partner at Claret Capital Partners, comments, “We’re delighted to be supporting Deciphex with this follow-on funding. Having partnered with the company since 2023, we have been really impressed by the team’s strong execution skills in addressing the growing market demand for Deciphex’s solutions. This extended funding reflects our confidence in the company’s business fundamentals and its ability to capture significant market share in its target geographies.”
This funding will help the Irish company grow in the United States and aim to be the top provider of histopathology reporting services in the UK by 2027.
It will also allow Deciphex to expand its two-platform business: Diagnexia for clinical diagnostics and Patholytix for pharmaceutical research, without impacting its current shareholders.
“This extended relationship with Claret Capital Partners provides us with the capital to execute on our most ambitious growth plans,” says Donal O’Shea, Founder and CEO of Deciphex.
The funding announcement comes eight months after raising €31M in a Series C round in January 2025, which was led by Molten Ventures.
Deciphex: Deploying digital pathology
More than 70 per cent of healthcare decisions depend on pathology tests, but the number of pathologists is decreasing while patient needs are increasing. This has led to backlogs in healthcare systems worldwide.
Here’s where Deciphex‘s platforms help solve this problem by using AI-powered digital pathology.
Founded in 2017, the Irish company aims to transform diagnostic workflows through AI-powered digital pathology to improve patient outcomes worldwide.
Its two flagship platforms target distinct markets — Diagnexia connects global subspecialty pathologists for rapid diagnostics and backlog reduction.
On the other hand, Patholytix accelerates drug development through optimised preclinical safety assessments.
By automating routine tasks, these platforms enable pathologists to focus on complex cases while delivering faster, more reliable diagnoses.
This enables pathologists to work up to 40 per cent faster without losing accuracy in their diagnoses.
The company currently operates across the US, UK, EU, Canada, and Japan, managing a global network of 250+ subspecialty pathologists and processing approximately 97,000 cases annually.
Deciphex employs approximately 223 people with facilities in Dublin, Ireland; Exeter and Oxford, UK; Chicago, USA and Toronto, Canada.
