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Israeli Med-tech startup gets $110M in Series B funding

Nanox Imaging Ltd secures $110M in Series B funding led by A-Labs Advisory and Finance Ltd

On July 28, reports emerged that Nanox Imaging Ltd – a startup based in Neveh Ilan – secured $110 million in funding. The medical imaging technology start-up got the funds to enhance the rollout of the Nanox.ARC in countries globally.

Nanox has so far signed agreements in 13 countries across five continents. Each of these countries has promised to use the innovative Israeli technology to revolutionize their early detection healthcare systems.

Israeli-based A-Labs Advisory and Finance Ltd was the lead advisor in the Series B funding round as highlighted by Jpost. In all of the earlier Nanox funding rounds, the firm got about $55 million.

Nanox.ARC enhanced with cloud-based software Nanox.Cloud is an innovative digital x-ray device designed to offer end-to-end medical imaging services.

The services covered include radiologist matching, image repository, billing and reporting, connectivity to diagnostic assistive AI systems, and offline and online diagnostics review and annotation.

How it will work

The Nanox founder and CEO Ran Poliakine said that the Nanox System will boost early detection of medical conditions that are readily discoverable by x-ray screenings. These screenings include -ray-based imaging modalities like fluoroscopy, CT, angiogram, and mammography.

In previous statements, the firm said that once regulatory approval is achieved:

“Nanox aims to penetrate the global market by deploying its Nanox System in collaboration with governments, hospitals, and clinic chains.”  

Poliakine said in a press statement:

“It is easy to say that we are aiming to change the world. The main challenge with such statements is always the execution. We have a bold vision of helping to eradicate cancer and other diseases by means of early detection.”

Nanox is striving to deploy a global medical imaging service technology but it acknowledges that it cannot do that without investors and partners who share the same vision and support the plan.

Poliakine is convinced that the system will be a game-changer in the medical imaging space. He said that Nanox is aiming to make the basic, possibly life-saving, medical imaging service accessible to everyone and not just the elitist group.

The CEO added:

“According to the World Health Organization. Two-thirds of Earth’s population doesn’t have access to medical imaging at all. The WHO also supports medical imaging as one of the best ways for early detection of cancer and other human conditions.”

This company’s vision is to ensure that the Nanox.ARC is available and accessible just like the stethoscope. In the past eight years, Nanox has strived to develop Nanox.ARC.

In the process, it has managed to produce an innovative digital X-ray source that offers a considerable reduction in medical imaging systems’ footprint and cost.

Featured image: The Nanox System, which includes the Nanox.Arc and Nanox.Cloud. (photo credit: LUZ CORPORATE PHOTOGRAPHY)

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Jeremy Wilson
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Jeremy is a content crafter and has experience in writing about finances and digital assets for over 5 years. At Finbold.com he covers news related to finance, regulations, startups and cybersecurity on a daily basis.