TL;DR:
- Elucid, a cardiovascular imaging company, secures $80 million in funding for AI-powered artery mapping.
- The funding follows a successful $27 million series B round in June 2022 and brings the total funding to $121 million.
- Elucid’s diagnostic software uses AI algorithms to create 3D models of arterial plaque build-ups, aiding in stroke and heart attack prevention.
- The software assesses plaque composition and stability, enhancing predictions of potential blood flow disruptions.
- Elucid is expanding its PlaqueIQ software to calculate fractional flow reserve from CT scans.
- Elevage Medical Technologies, a medtech-focused fund with a $300 million investment from Patient Square Capital, led the series C funding round.
- Elevage’s CEO and senior advisor have joined Elucid’s board of directors.
Main AI News:
In the ever-evolving landscape of cardiovascular diagnostics, Elucid, the pioneering cardiovascular imaging company, has reaffirmed its commitment to harnessing the power of artificial intelligence to revolutionize the visualization of blocked arteries. With a recent injection of $80 million in funding, Elucid is poised to make significant strides in this transformative field.
Financially, Elucid has demonstrated unwavering momentum, following last year’s successful venture capital fundraising. In June 2022, the company secured a remarkable $27 million in its series B round, nearly tripling the $8 million it raised the year prior. The latest series C funding round continues this impressive trajectory, bringing Elucid’s total funding to an impressive $121 million since its inception.
Elucid’s groundbreaking diagnostic software, which has received regulatory approvals in both the United States and Europe, leverages CT angiography scan data and deploys cutting-edge AI algorithms to construct intricate 3D models of arterial plaque build-ups. This innovative approach offers clinicians an unprecedented level of insight into the root causes of strokes and heart attacks. It essentially simulates the microscopic examination a pathologist might conduct on a physical arterial sample under a microscope.
Moreover, Elucid’s software goes beyond mere geometric analysis, delving into the composition and stability of arterial plaque. This holistic assessment enables the prediction of potential ruptures and subsequent disruptions in blood flow to critical organs such as the brain, heart, and other vital bodily systems.
Elucid has also announced its strategic initiative to enhance its PlaqueIQ software by adding the capability to calculate fractional flow reserve from CT scans. This feature will enable a comprehensive analysis of the flow of oxygenated blood through the intricate network of coronary arteries within the cardiac muscle.
Notably, the series C funding round marked the debut of Elevage Medical Technologies, a medtech-focused fund established in May with a substantial $300 million investment from Patient Square Capital. Elevage took the lead in this round, bolstered by the continued support of Elucid’s existing investors, including Biovision Ventures, IAG Capital, Bold Brain Ventures, BlueStone Venture Partners, and MedTex Ventures.
Elevage’s CEO, Evan Melrose, along with senior advisor Kelly Huang, have assumed positions on Elucid’s board of directors as part of this financing, further solidifying the company’s strategic vision and leadership. The infusion of $80 million in funding positions Elucid at the forefront of AI-driven artery mapping, promising significant advancements in cardiovascular healthcare.
Conclusion:
Elucid’s substantial $80 million funding injection signifies growing investor confidence in the potential of AI-driven cardiovascular diagnostics. With total funding of $121 million and the support of Elevage Medical Technologies, Elucid is well-positioned to lead innovation in this market, potentially revolutionizing the field of artery mapping and enhancing cardiovascular healthcare.
