neuro42 Announces the Closing of $6.5M Series A Round
The San Francisco startup advances diagnosis and image-guided interventions of the brain with its portable MRI and robotics platform
SAN FRANCISCO–(BUSINESS WIRE)–neuro42, the medical technology company leading the next evolution of MRI and robotics, today announced the close of a $6.5M Series A financing round. Zepp Health led the financing round and is joined by ShangBay Capital and prominent angel investors, Krishna R. Bhupal and Philip Dolan.
The financing will enable neuro42 to advance the development of the first-of-its-kind MRI and robot, and allow physicians to diagnose brain injury in acute settings and treat neurological diseases intraoperatively under live imaging. To date, the Company has raised $7.8M of which $1.3M was in an oversubscribed seed round that closed earlier this year.
“The investment will fast-track our progress in bringing our products to the masses and creating a meaningful impact for neuro physicians and neurosurgeons in treating their patients,” said Dr. Amit Vohra, Founder and CEO of neuro42. “We are thrilled by the support of our investors who see the disruptive potential of MRI guided interventions.”
neuro42’s patient-centric approach will provide patients with cutting-edge technology as it works to expand the frontiers of knowledge in the fields of neuro medical imaging, robotics, and artificial intelligence. The trailblazing company was formed to focus on brain imaging and treatment of various brain conditions including, but not limited to stroke, hydrocephalus, epilepsy and various brain tumors.
“neuro42 and their team of medical and scientific experts encompass deep industry knowledge, triggering the next wave of growth in the field of neuroimaging and interventions,” said Mike Yeung, Chief Operating Officer of Zepp Health. “The Company offers a unique and scalable opportunity, combining proprietary MRI technology with artificial intelligence and robotics.”
One of the most significant advantages neuro42’s technology brings to the market is that the novel scanner allows for robotic procedures outside of the traditional magnetic resonance suite, expanding the possibilities of intraoperative image guidance and disease treatment.
About neuro42, Inc.
neuro42, Inc. is a San Francisco, CA based medical technology company focused on diagnostic imaging and image guided surgical interventions of the brain. Founded by a team of successful entrepreneurs and healthcare innovators, the Company is developing and commercializing an intraoperative MR, AI and robot that allows easy access to MR imaging for screening, diagnosis and interventions of neurological diseases. Backed by over 30 patents, neuro42’s platform is poised to enhance patient and physician experience with its novel, easy-to-use and portable configuration. To learn more about neuro42, visit neuro42.ai.
About Zepp Health Corp. (NYSE: ZEPP)
Zepp Health changed its name from Huami Corp. (HMI) on February 25, 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. The company’s mission continues to be connecting health with technology. Since its inception in 2013, Zepp Health has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, which drive a broadening line of smart health devices for consumers, data analytics services for population health, and industrial medical technology for diagnostics and care delivery. Zepp Health is one of the largest global developers of smart wearable health and consumer fitness devices, shipping 46 million units in 2020, including 33 million smart watches. Zepp Health Corp. is based in Hefei, China, with U.S. operations, Zepp Health USA, based in Cupertino, Calif.
To learn more about the technology behind the neuro42 MRI system and its scope, visit: neuro42.ai.
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