In 2021, Elucid had just raised an oversubscribed $8 million Series A which the Boston medical technology startup planned to use to advance its technology. The same year, Elucid was named a BostInno Fire Awards honoree.
With its latest funding announciement, Elucid is adding a zero to that number to help commercialize the product. The company announced $80 million in Series C funding last Thursday, a round was led by Elevage Medical Technologies.
Over the last two years, Elucid has upped its technology. The company says its AI-powered imaging analysis software is designed to understand the cause of cardiovascular disease. Elucid offers an FDA-cleared software to analyze plaque in arteries. The software is available for commercial use in the U.S., UK, EU and South Korea.
This round brings the company’s total funding to $121 million.
“This Series C round underscores the importance of Elucid’s mission to optimize the diagnosis and treatment of patients with cardiovascular disease to improve global care and outcomes,” Elucid CEO Blake Richards said in the announcement.
The company says its software is the only FDA-cleared, non-invasive tool able to accurately characterize plaque in arteries. Elucid wants its technology to help establish a more objective way of looking at plaque and its potential effects on the body, instead of relying on subjective visual assessments.
The company is also looking into how its technology could measure coronary blockages and the extent of ischemia.
Since raising a $27 million Series B last year, Elucid has ramped up commercial efforts and expanded its clinical research and development. It has also been adding to its leadership team. Elucid has named a new chief medical officer, chief commercial officer, chief technology officer and SVP of regulatory affairs and quality management.
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