Recently, Zebra Medical Vision, an Israeli-based medical analytics company, announced that it had secured $30 million in its recent Series C financing round.
The startup is well known for utilizing machine learning technology in reading and analyzing data obtained from X-ray, MRI and CT scans.
aMoon Partners led the funding exercise, which propelled Zebra Medical Vision ’s total funds raised its establishment to $50 million. aMoon Partners is an Isreali-based life-sciences venture capital firm that is supported by prominent billionaire Marius Nacht.
Other firms that participated in the round included artificial intelligence (AI) specialists Richard Socher and Fei Lee, Intermountain Healthcare, Johnson & Johnson Innovation JJDC Inc. as well as Aurum Ventures, which is owned by billionaire Morris Kahn, a South Africa-born Israeli.
The list also included existing Zebra Medical Vision’s investors including OurCrowd, Khosla Ventures, Marc Benioff, Dolby Ventures and Nvidia.
Also, the company’s technology is known for its ability to detect or diagnose several medical conditions such as cardiovascular issues, lung conditions, low mineral density in bones, fractures and liver diseases.
Aside from raising $30 million in the recent financing round, Zebra Medical also received the CE regulatory Mark (EU approval) mainly for seven of its product selection.
What’s more, the startup’s technology received approvals in several nations all over Asia and Latin America, which is not a small feat. According to Zebra Medical, its online software dubbed Profound can read data from CT scans, and then evaluate the information and demographic reports with an impressive accuracy of 90 percent.
Furthermore, the startup has been providing its algorithm bundle to various health providers around the world at only $1 per scan with the sole intention of promoting affordable healthcare services.
Zebra Medical also recently released its Textray chest x-ray research, which it stated to be the most all-inclusive artificial intelligence (AI) research undertaken on chest X-rays to this day. The research offers an in-depth insight into the startup’s future automated chest X-ray product that is undergoing development.
During the announcement of the study, Zebra Medical also asserted that a comprehensive study on the power of its technology to atomically read chest X-ray scans displayed increased rates of agreements between human radiologist specialist and the algorithm.
Additionally, the company used almost two million images in training the chest x-ray artificial intelligence (AI) analytics product to detect 40 common clinical findings.
According to aMoon VC’s managing partner, Yair Schindel, Medical specialist all over the world are currently experiencing a critical obstacle in dealing with overwhelming demand.
He also expressed the excitement of the venture capital firm to join hands with the team at Zebra Medical in harnessing the power of machine learning and data to deliver healthcare systems and physicians that not only boost patient care but also increase capacity drastically.
Zebra Medical’s CEO Elad Benjamin said in a statement that he was proud of his team for spearheading the development and release of groundbreaking AI products with a goal of making them affordable globally.