Sequoia-backed VoxelCloud Secures USD 50 Million Series B Funding Led by East Hotech
Dec 18, VoxelCloud announced Series B round funding of USD 50 million led by East Hotech.
Dec 18, 2018/EqualOcean/-- VoxelCloud（体素科技）announced Series B round funding of USD 50 million led by East Hotech（东方鸿泰）, followed by Sequoia Capital, Qing Song Fund（清松资本）, Hanfor Capital（汉富资本）. Qi Ji Capital （奇迹资本）served as exclusive financial advisor in the transaction. The investment will be used for securing AI medical imaging solutions approvals for clinical uses and applications worldwide.
It's the second time for the company to obtain a funding from Sequoia Capital, last time was in May 2017. VoxelCloud is delicate in leveraging deep learning in precise and specific diagnosis service by deploying clinical experiences.
With offices in LA, Shanghai and Suzhou, VoxelCloud offers automated medical image analysis algorithms and end-to-end solutions that help doctors make clinical decisions in a more accurate, accessible and efficient way(see this article).
The medical imaging industry is quickly becoming crowded these years. VoxelCloud aims to fit clinical needs at first to grab market share at first. VoxelCloud adds a new product featuring skin diseases called VoxelCloud Knows Your Skin（体素肤知汇）, on top of coronary heart disease, lung cancer, and retinal diseases. VoxelCloud utilizes deep learning imaging analysis and processing to compare hundreds of skin diseases in an intelligent way.
In America, VoxelCloud's CT Image Analysis product line has obtained FDA and CE approval for clinical uses. The company also focus on the Chinese market as they have submitted CFDA applications for 5 products including retina screening, coronary CT analysis, lung cancer screening, three of which are expected to get approval by 2017. (see this article)
DING Xiaowei（丁晓伟）, VoxelCloud's CEO and founder, claimed that VoxelCloud will deepen researches on multiple diseases screening, expanding the scope of diseases covered, elevating embedded clinical process and expanding application scenarios to deliver on their promises that help doctors make clinical decisions in a more accurate, accessible and efficient way.
——Author: LinYan. Write to LinYan at LinYan@EqualOcean.com