Nano-X Secures $26 Million Funding to Deploy Digital Medical Imaging Systems

On January 17, 2020, VCBeat (WeChat ID: vcbeat) learned from foreign media that Israeli medical imaging technology company Nano-X announced the completion of a $26 million financing round (the specific round was not disclosed). Investors in this round included Foxconn, SK Telecom, and other private investors.

It is reported that Nano-X plans to use the funds from this round of financing to develop, commercialize, and deploy the Nanox system. To date, the company has raised $55 million in financing.

Nano-X, founded in 2011 and headquartered in Israel, is a medical imaging technology company. The company is dedicated to developing digital medical imaging devices for application in preventive healthcare. Nano-X has developed a digital X-ray source that significantly reduces the cost and footprint of imaging systems. Furthermore, the company collaborates with medical imaging system suppliers, radiology associations, AI-based medical diagnostics firms, government agencies, and healthcare providers, with plans to deploy advanced imaging systems on a large scale globally to improve patient diagnosis, treatment, and care services.

Under the leadership of founder and CEO Ran Poliakine, Nano-X is advancing the development of a series of digital devices. The company has developed the Nanox system, which features the novel digital X-ray device Nanox.ARC, and plans to deploy more than 15,000 systems in the short term through partnerships with governments, hospitals, and clinic chains. Additionally, Nano-X’s cloud-based software, Nanox.Cloud, is currently under research and development. This software provides end-to-end medical imaging services, including an image repository, a radiologist matching system, online and offline diagnostic examinations, and AI-assisted diagnostic tools. Both the Nanox system and the Nanox.Cloud software operate on a pay-per-use basis.

Early detection through medical imaging can save millions of lives. However, according to data from the World Health Organization (WHO), two-thirds of the global population lacks access to medical imaging systems. Furthermore, many individuals must wait weeks or even months to receive diagnostic results. Medical imaging systems—such as CT, MRI, and PET—are the primary tools for early detection in symptomatic patients. Yet traditional systems are overly complex and expensive, making them unsuitable for large-scale deployment. With high-end medical imaging equipment costing millions of dollars, timely preventive screening remains a privilege accessible only to a few.

Over its eight-year history, Nano-X has remained committed to addressing the high costs and outdated deployment models of medical imaging systems. The company introduced Nanox.ARC, deploying medical imaging systems at scale through a pay-per-scan business model to enhance the accessibility of medical imaging. Backed by a strong executive team with decades of relevant experience, Nano-X has demonstrated an outstanding track record in large-scale global projects and healthcare systems engineering, along with multiple successful cases of bringing innovative technologies to market.

Foxconn, established in 1974 and headquartered in Taiwan, China, is a high-tech enterprise. The company operates over one hundred subsidiaries and representative offices across China, Japan, Southeast Asia, the Americas, and Europe, adhering to a global strategy of “R&D in two locations, design and manufacturing in three regions, and worldwide assembly and delivery.” Currently, Foxconn employs more than 1.2 million people and serves a premier global clientele; in 2016, it acquired the Japanese technology firm Sharp for $3.8 billion.

SK Telecom, established in 1984 and headquartered in Seoul, South Korea, is a leading mobile communications company. The company is dedicated to developing advanced telecommunications technologies and has formed strategic alliances with leading information and communications operators in Asia to build a global ecosystem in the rapidly evolving telecommunications market. Furthermore, SK Telecom actively participates in various international cooperation initiatives through overseas telecommunications agencies and international organizations such as the International Telecommunication Union (ITU), the Pacific Telecommunications Council (PTC), and the CDG, thereby enhancing its global competitiveness and expanding its presence in international markets.

(Compiled by Xu Xiaoxue)