Israeli startup TechsoMed, which develops artificial intelligence (AI) and algorithm-powered real-time tissue damage imaging technology, has closed a $7 million Series B equity financing round, the company announced Wednesday.
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Lead investors included Axil Capital with the participation of Yongjin Capital, Cobro Ventures, Magna Capital Partners and Radianx Capital, along with the company's existing investors – Johnson & Johnson Innovation – JJDC, Inc., and NextLeap Ventures.
TechsoMed's unique BioTrace solution utilizes an ultrasound device to visualize tissue viability in real-time and provide a unique map of damage that represents the full extent of damage as seen 24 hours post-treatment.
TechsoMed is collaborating with leading medical centers worldwide to secure regulatory approval for its BioTrace system in liver tumor ablation through the FDA's De Novo process.
"We are very grateful to both our new and existing investors for sharing our vision and recognizing the valuable impact that our technology brings. Our investors act as the driving force toward achieving our goals for scaling our technology and company," said TechsoMed CEO Yossi Abu.
