The company makes novel virtual reality technology for realistic surgery simulations.
Tech company EchoPixel, Inc. announced today the closing of an $8.5 million Series A funding round. The investment was led by new backer Intel Capital, the venture arm of the ubiquitous microchip maker.
EchoPixel’s calling card is virtual reality technology for clinicians. Its True 3D program uses existing DICOM data to deliver life-size, interactive medical images that allow physicians to observe, interact with, and even “cut open” patient-specific anatomy renderings. It can be applied for both diagnostic and surgical uses.
According to a statement from the company, the novel True 3D platform “empowers” physicians with a “holographic experience” useful for an array of clinical applications: pre-operative planning and reference during surgery; patient selection for implantable devices; improving communication among surgical teams; and enhanced patient understanding of the nature of their procedure in order to better ensure rehabilitation adherence.
Wendell Brooks, president of Intel Capital, said that his company was excited to invest in EchoPixel "and to see their technology transform patient care through the use of augmented reality."
The technology is already in use at several leading medical centers throughout the United States, including Yale-New Haven Hospital, Penn State’s Hershey Medical Center, Stanford, and the Cleveland Clinic.
"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, the company’s executive chairman. In the statement, EchoPixel says it will use the new funding to expand its commercial, R&D, and regulatory operations.
Joining Intel Capital in the Series A round were fellow new investors LAM Research and Binomial, as well as earlier investors Aurus Capital, Runa Capital, and the Harris & Harris Group.