Elucid, a Boston, MA-based medical technology company providing physicians with AI-powered imaging analysis software to assess cardiovascular disease, secured $80 million in Series C funding, bringing its total raised to $121 million in Series C.
The funding round was led by Elevage Medical Technologies, with participation from industry strategic and existing investors.
Elevage Medical Technologies is a platform created by Patient Square Capital dedicated to supporting medical device and technology companies that can meaningfully improve health outcomes and quality of life for patients. Through capital investment and strategic operational support, Elevage strives to accelerate the pace of innovation in the medical device and technology space.
Elucid Use of Funds
The company aims to leverage this funding to expand its commercialization efforts and enhance diagnostic tools in the cardiovascular space.
Elucid is a medical technology company dedicated to bringing precision patient care, as currently practiced in oncology, to cardiology. Its AI-powered imaging analysis software is designed to understand the root cause of cardiovascular disease deeply. Elucid is also pursuing an indication for FFRCT, uniquely derived from its PlaqueIQ technology, to measure coronary blockages non-invasively and the extent of ischemia. PlaqueIQ equips physicians with critical information for assessing the risk of plaque rupture in arteries that can lead to heart attack and stroke. The Elucid plaque analysis software is available for commercial use in the U.S., UK, EU, and South Korea.
PlaqueIQ powers Elucid's plaque analysis software, the only FDA-cleared computed tomography angiography (CTA) algorithm that objectively quantifies plaque morphology validated against tens of thousands of tissue annotations by renowned pathologists.
Company: Elucid Bioimaging, Inc.
Round: Series C
Funding Month: November 2023
Lead Investors: Elevage Medical Technologies
Company Website: https://elucid.com/
Software Category: Arterial Analysis Software