Nanox is an Israeli medical imaging company whose core product is the Nanox.ARC imaging system and associated diagnostics services. The company has signed agreements to deploy the Nanox.ARC and diagnostics services in 13 countries across five continents, including Taiwan, Singapore, South Korea, Italy, Russia and Belarus. It has announced expansion plans tied to investments aimed at growing its presence in South Korea and Vietnam. Financially, Nanox has been pursuing a protracted funding round that has reached $110 million in total commitments. The company secured a $26 million investment from Foxconn in January and $20 million from SK Telekom in June, and more recently added a $59 million extension. The articles do not disclose revenue, user counts, or other operating metrics. Nanox develops a small, low-cost scanning system (Nanox.Arc) and a cloud-based pay-per-scan imaging service called Nanox.Cloud to replace large, expensive imaging machines. The ARC scanner is ~70 kg with production costs around $10,000 compared with $1–3M for typical CT scanners, and relies on digital radiography with much of the image processing in the cloud. Nanox licenses its technology to companies such as FujiFilm and has Foxconn manufacturing its donut-shaped ARC devices. The company pairs hardware distribution with a screening-as-a-service business model and integrates third-party AI providers via APIs rather than developing its own diagnostic insights. Nanox aims to distribute roughly 15,000 machines over the next several years and already signed a $174M deal to deploy 1,000 units across Australia, New Zealand and Norway. Financially, the company has raised about $80M since launching in 2011. Nanox is an Israeli corporation developing a commercial-grade digital X-ray source and the Nanox System. The Nanox System comprises the Nanox.Arc, a novel digital X-ray device, and the Nanox.Cloud, a cloud-based software platform planned to provide image repository, radiologist matching, diagnostics review and annotation, AI connectivity, billing, and reporting. The company says its digital X-ray source technology and planned software will enable lower-cost medical imaging systems and expand access to early-detection services. Once regulatory approval is obtained, Nanox plans global deployment in collaboration with governments, hospitals and clinic chains and to offer the Nanox.Arc under a pay-per-scan business model. The Nanox.Cloud is being designed to provide an end-to-end medical imaging service that covers AI analysis and more. Nanox disclosed recent funding to support continued development, commercialization and deployment of the Nanox System.

Total raised

$105M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2020