US-based x-ray analytics software developer Enlitic completed a $25m series B-1 yesterday backed by diversified conglomerate Marubeni and diagnostic imaging services provider Capitol Health.
The round was led by investment firm Thorney Investment Group with additional contributions from venture firm Amplify Partners, equity manager Regal Funds Management and Jagen Group.
Founded in 2014, Enlitic has devised an artificial intelligence and deep learning-driven medical diagnostics platform for radiologists.
The technology checks patient x-rays against extensive radiological records provided by Enlitic’s healthcare industry partners, helping to compile measurements, identify details and generate diagnostic reports.
The cash will assist Enlitic as it prepares to launch its product in 2020 by executing the next phase of its development strategy, which includes solidifying its partnerships in the healthcare industry. Jagen Group’s Lawrence Gozlan will join the board.
Enlitic has strategic alliances with both Marubeni and Capitol Health, after the pair invested in its earlier rounds.
Marubeni led a $15m series B round for Enlitic in April 2019 that also featured Capitol Health and unnamed additional investors, after Capitol Health had led a $10m round closed in 2016.
Enlitic had earlier received $5m of seed funding from Amplify Partners, Data Collective and assorted angel investors. Jagen Group and Regal Funds Management both took part in the series B-1 round as existing investors.