EchoNous, which sells compact AI-powered ultrasound tools, has raised $57 million.
The funding was set out in a recent regulatory filing and confirmed by a spokesperson. The Redmond, Wash.-based startup plans to raise another $15 million by the end of September as part of a Series D round, a spokesperson said.
This funding follows the $60 million raised in June 2021. The funding helped the commercial launch of the company’s flagship device, the Kosmos. body.
The company’s deep learning algorithms help operators collect and label high-quality images and automatically calculate important measurements such as the heart’s ejection fraction. According to the company, Kosmos provides diagnostic-quality images that rival bulky, less portable, and more expensive devices.
Kosmos recently scored highly for overall image quality in an independent study evaluating five different handheld ultrasound devices.
The new funding will be used for product development and AI training, as well as integration with the platform. The funding will also expedite the technology development of Lexsa ultrasound probes, which received ‘510(k)’ clearance from the U.S. Food and Drug Administration last year and are labeled as ‘substantially equivalent’ to existing devices. This probe enables Kosmos to perform bedside ultrasound of nerves, lungs, blood vessels and mucosal skeleton.
EchoNous, launched in 2015, also recently entered into a partnership with Samsung. This will allow healthcare providers to pair Kosmos with Samsung tablets.
EchoNous CEO Kevin Goodwin was CEO of ultrasound device developer Sonosite, which was sold to Fujifilm in 2011 for $995 million. EchoNous has approximately 150 employees.
The new equity funding round was led by Kennedy Lewis Investment Management.