US-based medical imaging equipment developer Hyperfine Research received $90m on Wednesday in a series D round featuring biometric device producer Huami and internet and technology group Alphabet’s corporate venturing subsidiary, GV.
The oversubscribed round included venture capital firm Nextrans, VC funds Axiom Associates and Colle Capital, private equity firm LSS Private Equity and investment manager Altium Capital, while Huami provided $5m of the capital.
Founded in 2014, Hyperfine has designed and developed a portable magnetic resonance imaging (MRI) device which uses magnetic fields and radio waves to generate images of the inside of a patient’s body.
Hyperfine will use the proceeds from the round to support the commercial expansion of its portable MRI product in the United States and bring forward its plans for product launches in new countries.
The funding will also support the company’s pursuit of regulatory approval for its products and the further development of its artificial intelligence and deep learning technology.
Jonathan Rothberg, founder of Hyperfine, said: “Our mission is simple: democratise healthcare for all patients, everywhere.
“We refuse to accept barriers to accessible, equitable care and we intend to make the previously impossible both possible and affordable by delivering MR imaging to the patient, wherever that patient is.”
The company, which was launched from medical technology incubator 4Catalyzer, has not disclosed details of its earlier funding.