Nanox announces completion of $110 million series B financing round

Israeli medical imaging company will deploy its digital x-ray device in 13 countries

Hagar Ravet 14:0028.07.20
Israeli medical imaging company Nanox, incorporated as Nano-X Imaging Ltd., announced Tuesday that it had completed a $110 million series B financing round. The round got underway last December and included investments by the likes of SK Telecom, Fujifilm Holdings Corp., and Foxconn. So far the company has raised $137 million.


Nanox was founded in 2012 by Ran Poliakine, who also heads a development center in Neve Ilan just west of Jerusalem that hosts 10 startups, including Illumigyn, Wellsense Technologies LLC, and others. Nanox develops an innovative digital X-ray-based imaging device that produces a three-dimensional scan. Its technology is intended to reduce the cost of existing similar medical imaging systems and increase accessibility to X-ray medical diagnostic results. The company employs 60 people in Israel and Japan.


Nanox CEO Ran Poliakine. Photo: LUZ Corporate Photography Nanox CEO Ran Poliakine. Photo: LUZ Corporate Photography
"We strive to transform the world of medicine,” said Poliakine, who serves as the company’s CEO. “The main challenge in such a statement is, always, execution. We have a solid and clear vision and that is to eradicate cancer and other terminal diseases through early detection."


The company added that since the start of the December financing round, Nanox has signed medical imaging systems deployment agreements alongside artificial intelligence-based diagnostic services in 13 countries across five continents around the world. It said its goal is to revolutionize the health services industry by making advanced medical imaging for early detection accessible across all socio-economic groups. The product’s deployment will work according to the company's MSaaS model which is based on a low fee per scan instead of the sale of expensive devices.