Israeli medical imaging company Nanox announced last week that it has secured a $26 million funding round, with participation from Taiwan-based electronics contract manufacturer Foxconn as well as like Fujifilm, SK Telecom, and other private investors.
This brings the company’s total funding to $55 million to date.
The funds were raised as part of a round aimed to support the development, commercialization, and deployment of the Nanox System. The Nanox System is composed of the Nanox.Arc, a novel digital X-ray device that is paired with the Nanox.Cloud, the company’s cloud-based software designed to provide end-to-end medical imaging services. The services offer image repository, radiologist matching, online and offline diagnostics review and annotation, connectivity to diagnostic assistive artificial intelligence systems, billing, and reporting.
The Nanox system aims to improve the accessibility and affordability of early detection services worldwide through the introduction of medical screening as a service (MSaaS,) the company said.
Nanox plans to deploy its system globally in collaboration with governments, hospitals, and clinic chains to mark its entry into the global market. The company says it will offer its Nanox.Arc under a pay-per-scan business model, at affordable and substantially lower prices than currently available alternatives. The Nanox.Cloud will be designed to provide end-to-end medical imaging that covers AI analysis.
“We are honored to have Foxconn join other world leaders, Fujifilm and SK Telecom, in investing in our vision of eradicating cancer,” says Ran Poliakine, founder and CEO of Nanox. “Nanox has achieved a technological breakthrough by digitizing traditional X-rays, and now we are ready to take a giant leap forward in making it possible to provide one scan per person, per year, for preventative measures.”