Promaxo Raises $4.17M in Funding Round Led by Huami Corporation

Rhea-AI Summary

Promaxo, a medical imaging and AI technology firm, announced a successful investment round of $4.17M led by Huami Corp (NYSE: HMI). This funding will enhance Promaxo's data strategy and the integration of AI in imaging solutions. CEO Dr. Amit Vohra emphasized the company's commitment to improving healthcare through innovative technologies. Huami's COO, Mike Yeung, highlighted the collaborative potential between the two companies, leveraging Huami's expertise to drive Promaxo's growth and market expansion.

Positive

• Secured $4.17M in funding from Huami Corp.
• Funding to accelerate AI integration in medical imaging.
• Partnership with Huami expected to enhance growth and scaling opportunities.

Negative

• None.

Promaxo, Inc. (Promaxo), the medical imaging, robotics, and AI technology company, and Huami Corp. (NYSE: HMI) today announced closing an investment round of $4.17M led by Huami.

“As an industry, we are just scratching the surface of how powerful MRI is poised to become in guided interventions, and we are proud to have Huami as a strategic investor as we introduce our truly open MRI system to the masses,” said Dr. Amit Vohra, founder and CEO of Promaxo. “We are thrilled to have the financial support to help execute our vision and look forward to providing the best healthcare possible to our patients and clinical partners.”

The trailblazing medical technology company plans to use the funds to accelerate its data strategy as it continues to incorporate artificial intelligence in imaging and image-based interventions. Promaxo’s patient-centric approach will provide patients with cutting-edge technology as it works to expand the frontiers of knowledge in the fields of medical imaging, robotics, and artificial intelligence.

“Huami’s mission is to connect health with technology, and we see tremendous opportunity in imaging to expand our growth opportunities. Companies such as Promaxo are disrupting the locations, applications and costs of medical imaging. Huami has resources, such as miniaturization engineering expertise, that can help accelerate Promaxo’s scaling, growth and success, and we look forward to what our partnership can develop,” said Huami Chief Operating Officer Mike Yeung.

Promaxo and Huami will continue to explore a partnership for the application of artificial intelligence, product integration opportunities, and commercialization, making them a natural fit to serve as strategic partners.

About Promaxo, Inc.

FAQ

What was the investment amount Promaxo received from Huami?

Promaxo secured an investment of $4.17M from Huami Corp.

What will Promaxo use the investment from Huami for?

Promaxo plans to use the funds to accelerate its data strategy and incorporate AI into imaging and interventions.

Which company led the investment round for Promaxo?

Huami Corp, listed on NYSE under the ticker HMI, led the investment round.

What is the significance of the partnership between Promaxo and Huami?

The partnership aims to explore AI applications and product integration, which may drive growth and innovation in medical imaging.