Telecommunications firm SK Telecom has added $20m to a series B round for Israel-based medical imaging technology developer Nano-X Imaging to bring the round to $51m.
The company received $26m from SK Telecom, contract electronics manufacturer Foxconn, imaging technology producer Fujifilm and unnamed private investors in a January 2020 tranche following $5m from SK Telecom in June 2019, it said this week.
Nano-X has developed a body scanner called Arc (pictured) that is smaller and cheaper than conventional systems, weighing only 70kg and costing only $10,000 to produce, compared to the $1m to $3m cost of a two-ton computed tomography (CT) scanner.
The technology relies on digital radiography, an approach that uses X-ray sensitive plates to capture data during examination without the need to have films developed. The approach means images can be captured in less than a second, reducing radiation exposure.
In addition to X-ray scans, the system is also capable of tomosynthesis, a digital CT scan that generates high-resolution 3D images of targeted areas. Images are uploaded to the cloud, where they are processed on a pay-per-scan model.
SK Telecom and Nano-X have also formed a strategic partnership, through which they aim to deploy 2,500 devices across South Korea and Vietnam. Nano-X will set up a South Korea subsidiary to scale up production of its semiconductor technology – the basis for its X-ray sensitive plates – and leverage SK Telecom’s expertise in semiconductors.
Nano-X has now raised $80m in funding altogether according to TechCrunch, which reported that the round valued it at approximately $600m. It said in January its total funding stood at $55m, identifying SK Telecom, Fujifilm and the individual investors as existing backers.
Image courtesy of Nano-X Imaging.
