Elucid, a company specializing in cardiovascular imaging, has reaffirmed its commitment to leveraging artificial intelligence for analyzing the interiors of blocked arteries. With a recent funding round, they have secured $80 million in investment.
Following last year’s successful venture capital fundraising, Elucid has maintained its financial momentum, notably raising \(27 million in series B funding in June 2022, a substantial increase from the previous year’s \)8 million round. The latest series C funding has brought the total funding to $121 million since the company’s inception.
Utilizing CT angiography scan data, Elucid’s medical application employs AI algorithms to generate 3D models of arterial plaque build-ups, offering clinicians a comprehensive insight into the leading causes of strokes and heart attacks. This innovative approach simulates the observations of a pathologist examining an actual sample, enhancing diagnostic capabilities. The company has received regulatory approvals in the U.S. and Europe to proceed with their groundbreaking technology.
In addition to assessing arterial blockages, the AI algorithms can predict the risk of plaque rupture, which could obstruct blood flow to vital organs like the brain and heart. This analysis goes beyond geometrical considerations to evaluate the composition and stability of the plaque, providing crucial information for healthcare professionals.
Elucid has announced the development of a new program called PlaqueIQ, designed to estimate blood flow obstruction from CT scans and evaluate the oxygenated blood circulation in the coronary arteries. This advancement signifies the company’s dedication to advancing cardiovascular care through innovative technology.
Elevage Medical Technologies, a medtech-focused fund backed by Patient Square Capital with a $300 million investment, took a prominent role in Elucid’s series C funding round, marking its debut in the public domain. Supported by existing investors such as BlueStone Venture Partners, IAG Capital, Bold Brain Ventures, and MedTex Venture, Elevage led the funding round, showcasing confidence in Elucid’s vision and capabilities.
As part of the investment agreement, senior advisor Kelly Huang and CEO Evan Melrose from Elevage have joined Elucid’s board of directors, further strengthening the strategic partnership between the two entities.
