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Nanox raises $59M more for low-cost, downsized scanning tech to replace X-rays – TechCrunch

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Israeli startup Nanox has big ambitions to take on the world of medical imaging and imaging analytics with hardware that reduces the size and cost of scanning equipment, plus software that improves the quality of images and the insights you can gain from them. Today, Nanox is announcing another big step ahead in that plan: it's raised another $59 million in funding, closing out its Series B at $110 million, to continue building its full-body scanning hardware and securing more customers. The money is coming from a range of strategic investors that include SK Telecom, Industrial Alliance (the Canadian insurance group), Foxconn and Yozma Korea, and it has arrived swiftly on the heels of $51 million delivered in two tranches, the most recent being in June from strategic investor SK Telecom, which is building a factory to manufacture Nanox hardware in South Korea. The company is not disclosing its valuation but in June, it was $600 million, and from what we understand this is likely to be the company's last fundraise before it goes public, although a timeline for the latter has not been set (and never say never in the world of startup funding, of course). Ran Poliakine, Nanox's founder and CEO, said in an interview that today the startup makes the majority of its revenues from licensing deals: it provides IP to manufacturers like Foxconn, SK and Fuji (another investor) to build devices based on its concepts, and the plan is to have some 15,000 scanners out in the market over the next several years.


Nanox to Host Live Streaming AI Vision Event

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Ran Poliakine, Chairman and CEO and Erez Meltzer, Director, will host industry experts and Nanox team members to share the Company's AI vision of the integration of the AI technologies with the Nanox.ARC and Nanox.SOURCE NEVE ILAN, Israel, Sept. 24, 2021 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that Ran Poliakine, Chairman and Chief Executive Officer, and Erez Meltzer, Director (appointed CEO effective January 1, 2022), will host a Nanox AI Vision event. About Nanox: Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging services for all. For more information, please visit www.nanox.vision. Forward-Looking Statements This press release may contain forward-looking statements that are subject to risks and uncertainties.


How AI May Prevent The Next Coronavirus Outbreak

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AI can be used for the early detection of virus outbreaks that might result in a pandemic. AI detected the coronavirus long before the world's population really knew what it was. On December 31st, a Toronto-based startup called BlueDot identified the outbreak in Wuhan, several hours after the first cases were diagnosed by local authorities. The BlueDot team confirmed the info its system had relayed and informed their clients that very day, nearly a week before Chinese and international health organisations made official announcements. Thanks to the speed and scale of AI, BlueDot was able to get a head start over everyone else.


How AI May Prevent The Next Coronavirus Outbreak

#artificialintelligence

AI can be used for the early detection of virus outbreaks that might result in a pandemic. AI detected the coronavirus long before the world's population really knew what it was. On December 31st, a Toronto-based startup called BlueDot identified the outbreak in Wuhan, several hours after the first cases were diagnosed by local authorities. The BlueDot team confirmed the info its system had relayed and informed their clients that very day, nearly a week before Chinese and international health organisations made official announcements. Thanks to the speed and scale of AI, BlueDot was able to get a head start over everyone else.


How AI May Prevent The Next Coronavirus Outbreak

#artificialintelligence

AI can be used for the early detection of virus outbreaks that might result in a pandemic. AI detected the coronavirus long before the world's population really knew what it was. On December 31st, a Toronto-based startup called BlueDot identified the outbreak in Wuhan, several hours after the first cases were diagnosed by local authorities. The BlueDot team confirmed the info its system had relayed and informed their clients that very day, nearly a week before Chinese and international health organisations made official announcements. Thanks to the speed and scale of AI, BlueDot was able to get a head start over everyone else.