HeartVista, a developer of AI-assisted MRI applications that help physicians accurately diagnose cardiovascular disease, closed an $8.65 million Series A financing round from Khosla Ventures, Jeff Rothschild, Leslie Ventures, and Open Field Capital.
The company plans to use new funds to develop AI-guided musculoskeletal and neural packages, expand its sales, marketing, and regulatory operations globally.
This latest raise brings the company’s total funding to date to $16.35 million, including grants from the National Institutes of Health (NIH).
“We are big believers in AI when applied to imaging and HeartVista is a thought leader in this area,” said Vinod Khosla, Founder of Khosla Ventures.
Since 2010, Khosla Ventures has invested close to $1 billion according to the Mercom funding database.
“Their very pragmatic solution increases access to MRI imaging. There is no doubt that the future of medical imaging lies in the autonomous control of these modalities,” said Mark Leslie, managing director of Leslie Ventures, and board member at HeartVista.
Last year, HeartVista received FDA 510(k) clearance for its AI-assisted One Click MRI software platform. The software platform uses existing scanners and MRI tools for a thorough cardiac examination. The software leverages neural network that helps detect artifacts on scans and alerts doctors when the image quality is below the acceptable threshold. Additionally, the company offers free remote cardiac scanning services to providers who lack the staff to run the MRI machines, during the COVID-19 pandemic.
Earlier this year, Lunit, Korean AI-enabled medical imaging solution providers, raised $26 million in Series C funding. Shinhan Investment led the financing, supported by InterVest, IMM Investment, Kakao Ventures, and China’s Legend Capital. Qure.ai, a provider of AI-powered medical imaging solutions, raised $16 million in a funding round led by Sequoia India with support from MassMutual Ventures Southeast Asia (SEA).