Subtle Medical, a US-based medical imaging software producer backed by internet group Baidu, has received $12.2m in a series A round led by healthcare investment fund 3E Bioventures Capital.
The round also featured Tsingyuan Ventures, a vehicle with ties to Tsinghua University angel investors, as well as Fusion Fund, Data Collective, Delta Capital, Crista Galli Ventures, Nina Capital and unnamed additional participants.
Subtle Medical develops artificial intelligence-driven medical imaging software products that have been designed to run from healthcare providers’ existing imaging machines. The funding will help the company cope with demand for its first two products.
The round came after Subtle Medical secured an undisclosed amount from Deep Health Seed Program in mid-2018, following $1.1m in earlier financing from Baidu unit Baidu Ventures, Stanford-StartX Fund, ZhenFund, Data Collective, Breyer Capital, Fusion Fund, Tsingyuan Ventures and Wisemont Capital.
Enhao Gong, founder and chief executive of Subtle Medical, said: “Our mission is to make medical imaging better, safer and more comfortable for patients while creating new workflow efficiencies for hospitals and imaging centres.
“Having the financial support and domain expertise in healthcare and biopharma from 3E Bioventures will help us execute our vision more rapidly and with global impact.”
The original version of this article appeared on our sister site, Global University Venturing.