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Medical imaging company Nanox raises $59M

Israeli company Nanox has raised $59 million in a Series B funding round from South Korea’s wireless telecommunication operator SK Telecom, Canadian insurance group Industrial Alliance, Taiwan-based technology manufacturing giant Foxconn, VC firm Yozma Korea and private investors, reports NoCamels.

Nanox-1

Founded in 2018 by the CEO Ran Poliakine and Japan Laboratories Manager Hitoshi Masuya, Nanox develops affordable medical imaging system which includes digital X-ray device Nanox.Arc and cloud-based imaging software Nanox.Cloud. Nanox’s device weighs 70 kg compared to 2,000 kg for the average CT scanner, and its production costs around $10,000 compared to $1-3 million for the CT scanner. 

Nanox is aimed to «democratize health care» by offering a «digital camera for the full body» among its range of medical imaging services that operate on a pay-per-scan business model, emphasized Poliakine. Nanox’s screening service costs $30 per scan, while traditional scan globally costs $300 in average, in the US – $3,000, said the CEO.

The company is planning to spend the proceeds for the expanding of its imaging system worldwide. To date, Nanox has already signed agreements for the deployment of its services in 13 countries. Besides, as reported by CTech, the Israeli startup has applied for the upcoming Nasdaq IPO and declared a plan to raise $125 million.

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