Financing will support commercialization of True 3D, the first interactive virtual reality software that helps improve diagnoses and surgical planning for better patient careMOUNTAIN VIEW, Calif., Oct. 19, 2017 — (PRNewswire) — EchoPixel, Inc., the pioneer of True 3D, an interactive virtual reality software solution that assists healthcare professionals in detailed interpretation of medical images, both for diagnosis and surgical planning, announced today that it has closed an $8.5 million Series A financing.
The financing round was led by new investor Intel Capital and included existing EchoPixel investors Aurus Capital, Runa Capital and Harris & Harris Group. Also participating were new investors LAM Research and Binomial. Proceeds from the Series A financing will be allocated towards expanding EchoPixel's Commercial, R&D and Regulatory organizations.
"With its promise to make medical images more accessible to more clinicians and transform the ways doctors work and patients understand their unique anatomy, EchoPixel's True 3D has generated excitement in the medical community," said Sergio Aguirre, founder and Chief Executive Officer of EchoPixel.
EchoPixel's True 3D Viewer software enables physicians and surgeons to see and interact with medical images the way they would with real, physical objects. The system leverages existing DICOM image data to create life-size virtual reality objects, allowing physicians to move, turn, dissect, and cut open virtual patient specific anatomy. When supported by EchoPixel's software, clinicians are empowered with a holographic experience with numerous potential benefits across a range of medical applications, including:
- Enhanced pre-operative planning and better interactive understanding of unique anatomy that can be used as a reference during surgery
- Improved patient selection for implantable devices enabling clinicians to better tailor personalized patient care
- Enriched communication and collaboration among members of the surgical team, including surgeons and other OR staff
- Increased patient engagement that facilitates informed consent and adherence to rehabilitation
These benefits have the potential to address day-to-day hospital challenges, such as, faster surgical planning, a better understanding of possible complication areas, reducing OR time and advancing patient engagement and outcomes.
True 3D is being used in clinical and research settings around the world, including the University of California, San Francisco, Stanford, the Cleveland Clinic, the Lahey Clinic, and the Hershey Medical Center, among others.
"The growth in key centers working on significant solutions using True 3D, and the number of leadership organizations supporting EchoPixel's marketing efforts, have positioned the company for rapid growth moving forward," said Ron Schilling, PhD, Executive Chairman, EchoPixel.
"Intel Capital invests in pioneering technologies," said Wendell Brooks, senior vice president of Intel Corp. and president of Intel Capital. "We are excited to invest in EchoPixel and to see their technology transform patient care through the use of augmented reality."
EchoPixel is building a new world of patient care with its groundbreaking medical visualization software. The company's FDA-cleared True 3D Viewer uses existing medical image datasets to create virtual reality environments of patient-specific anatomy, allowing physicians to view and dissect images just as they would real, physical objects. The technology aims to make reading medical images more intuitive, help physicians reach diagnosis, and assist in surgical planning. Leading institutions, including the University of California, San Francisco, the Cleveland Clinic, the Lahey Clinic, and more are using True 3D in clinical and research applications. EchoPixel is a privately held, venture backed company located in Mountain View, CA.
About Intel Capital
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Chris K Joseph
SOURCE EchoPixel, Inc.