Medical Imaging AI Company Elucid Raises $55 Million in Funding
Boston-based Elucid, which develops AI software for the detection of cardiovascular diseases, has pushed its total funding to over $185 million with the new investment.
Medical imaging artificial intelligence company Elucid has announced securing $55 million in financing in an oversubscribed Series D investment round. The company will use this new capital to expand its clinical platform and accelerate product developments.
Details of the Series D Financing Round
Boston-based artificial intelligence company Elucid announced on Wednesday that it raised $55 million in an oversubscribed Series D financing round.
With this latest round, the total amount of investment the company has secured to date has surpassed $185 million.
Investors and Strategic Partners
This latest investment round was joined by AG Capital Partners and Elevage Medical Technologies, alongside an unnamed major publicly traded medical technology firm.
Company CEO Kelly Huang stated that with these participations, the number of publicly traded strategic investors within the organization has reached four.
Purpose of the Artificial Intelligence Technology
Founded in 2013, Elucid develops artificial intelligence software to help physicians apply personalized treatment in the management of coronary artery disease.
The developed technology transforms routine CT angiography into quantitative insights based on plaque biology, vessel anatomy, and fractional flow reserve physiology.
Future Plans and Approval Processes
The provided financing will support product development processes, including FFR-CT, which is currently under review by the US Food and Drug Administration.
The company also plans to continue its clinical studies and research activities without interruption.