Neural Analytics, a US-based brain health diagnostics technology developer backed by clinical services provider TigerMed, secured $10m in a round led by venture capital firm Reimagined Ventures on Monday.
Founded in 2013, Neural Analytics has developed an ultrasound system called the Lucid M1 Transcranial Doppler Ultrasound System that enables clinicians and first responders to detect, diagnose and monitor brain health issues.
The system has received regulatory approval and is available in the US and Europe. Neural Analytics’ technology is based on research conducted at university UCLA’s Department of Neurosurgery.
Leo Petrossian, CEO of Neural Analytics, said: “The additional round of funding will allow Neural Analytics to expand commercialisation efforts for the Lucid System both in the US and Europe and continue our ongoing research efforts to achieve earlier diagnosis for brain health conditions.”
The round lifted the company’s overall funding to $27m, $10m of which was secured in a late 2015 round that included TigerMed, which invested through its Taiyu Capital unit, and venture capital fund JSR.