Sydney, Australia-based firm Vexev has raised $6 million ($4.3 million U.S.) to accelerate U.S. Food and Drug Administration (FDA) 510(k) clearance and commercialization of VxWave, its robotic tomographic ultrasound platform, bringing the Australian company's total funding to $19 million ($13.3 million U.S.).
VxWave combines robotics, AI, and ultrasound to automate vascular ultrasound acquisition, with dialysis vascular access as its initial application, according to the company. In a multi-site clinical study with U.S. Renal Care, the platform demonstrated a 94% scanning success rate for autonomous vascular imaging performed by non-specialist clinical staff.
Lead investors in the round included Blackbird Ventures, Neotribe Ventures, Startmate, and Horizon, along with new investors TreeArc Investment Group, TEN13, Bioshore Ventures, and Alumni Ventures.
