Subtle Medical, a provider of AI-powered solutions for vendor-agnostic medical imaging enhancement, raised $12.2 million in a Series A funding round, led by 3E Bioventures Capital.
Other investors – Fusion Fund, Data Collective, Delta Capital, Tsingyuan Ventures, and other seed investors. Several key European investors also participated in the round, including Crista Galli Ventures (UK) and Nina Capital (Spain), also participated.
The company plans to use funds to enhance its market in the U.S. and abroad, which has seen an uptick since Covid-19 began as medical imaging centers require more flexibility to perform additional cleaning protocols between patients and the ability to increase capacity to accommodate the surge in postponed scan volume.
The new financing is expected to boost Subtle’s product pipeline, which includes SubtleGAD for lowering gadolinium dose in contrast-enhanced MRI, and technologies in image-guided therapies and pharmaceutical applications.
Dr. Lue Sun, Vice President at 3E Bioventures commented: “Subtle Medical is paving the way for a new generation of AI-powered medical imaging. In a short time, the company has proven to have a profound impact on the radiology community, and the value they bring to improve patient care and increase scanner capacity is instrumental and timely in the current healthcare environment. With their ambitious and promising team leading the way, we believe our partnership will help accelerate their growth.”
Dr. Enhao Gong, Founder & CEO, Subtle Medical, added, “Our mission is to make medical imaging better, safer and more comfortable for patients while creating new workflow efficiencies for hospitals and imaging centers. Having the financial support and domain expertise in healthcare and biopharma from 3E Bioventures will help us execute our vision more rapidly and with global impact.”
According to Mercom Digital Health Funding database, Medical Imaging companies have raised over $1 billion since 2010. Recently medical imaging company Gleamer raised $8.7 million.