Imaging company raises $26M to develop digital x-ray service, AI-powered cloud software

Nano-X Imaging (Nanox), an imaging technology company based out of Israel, has announced the completion of a funding round worth $26 million. The company has now raised $55 million overall.

This latest funding round was made possible by a new strategic investment from Foxconn, which joins Fujifilm, SK Telecom and other investors in backing the company’s mission to bring digital x-ray capabilities to modern imaging systems. The funding is expected to go toward the continued “development, commercialization and deployment” of the Nanox System, which includes a digital x-ray device (Nanox.Arc) and a cloud-based, AI-powered software solution (Nanox.Cloud).

The Nanox System is designed to be an end-to-end imaging service that assists customers with everything from diagnostic reviews and annotation to AI connectivity and medical billing. Nanox’s goal with these solutions, once they gain the proper regulatory approval, is to work with various governments and health systems to offer a “pay-per-scan” business model.

“We are honored to have Foxconn join other world leaders Fujifilm and SK Telecom in investing in our vision of eradicating cancer,” Ran Poliakine, founder and CEO of Nanox, said in the prepared statement. “Nanox has achieved a technological breakthrough by digitizing traditional x-rays, and now we are ready to take a giant leap forward in making it possible to provide one scan per person, per year, for preventative measures.”