Sydney, Australia-based medical imaging startup Vexev has announced it has raised $6 million in new funding to accelerate the path to FDA 510(k) clearance and U.S. commercialization of VxWave Ultrasound Imaging System, its robotic tomographic ultrasound platform, designed to improve access to standardized vascular imaging.
The investment round was co-led by Blackbird Ventures, Neotribe Ventures, Startmate (an Accelerator), Horizon (Horizon.VC), TreeArc Investment Group, TEN13, Bioshore Ventures, and Alumni Ventures.
Vexev said the funding will support its regulatory, manufacturing scale-up, and commercialization activities.
Cardiovascular disease is the leading cause of death in the world, claiming nearly 20 million lives each year. Still, most healthcare providers don’t have access to high-quality vascular imaging.
With fresh funds, Vexev aims to address that challenge. The startup is developing autonomous robotic imaging technology that combines robotics, artificial intelligence, and ultrasound imaging to automate vascular ultrasound acquisition.
Vexev has plans to expand its autonomous imaging platform into additional vascular disease applications such as cardiovascular and peripheral artery disease, while building the clinical evidence needed to support future AI-enabled decisions.
Commenting on the fundraise, John Carroll, co-founder and CEO of Vexev, said: “We believe high-quality vascular imaging should be available wherever patients receive care, not only when a specialist is available”
“We are starting with dialysis patients because the clinical need is clear, but our vision is much broader: to build an autonomous imaging platform that helps clinicians make faster, more consistent and more informed decisions across vascular disease,” added John Carroll.
Digital health startups, including advanced medical imaging solutions providers, have raised $200+ billion in VC funding to date, according to our latest Funding Database. More recently, Body Vision Medical, an AI-powered intraoperative imaging startup, has closed a new round of funding to meet the rising demand for its advanced imaging technology, LungVision.
In another deal, Qureight, an end-to-end imaging company that provides enterprise-grade imaging and precision endpoints for clinical trials with a focus on lung and heart disease, raised $20 million in a Series B financing.