Chipiron, a deeptech startup that specializes in ultra-low MRI, announced it raised $17 million in a Series A funding round led by Blast.
EIC Fund and iXcore participated in the round, with support from France2030 (SGI), the EIC Accelerator (European Commission) and Bpifrance.
WHAT IT DOES
Chipiron aims to “democratize” access to MRIs by making a lightweight, portable machine available in local care centers, private clinics and mobile units.
The French company will use the funds to finish developing a miniaturized MRI scanner and build its first prototypes for hospital deployment.
Clinical trials for the prototypes will commence in 2026.
“This fundraising marks a major turning point for Chipiron, as it validates both our technological approach and the clinical impact we aim to achieve,” Evan Kervella, CEO and cofounder of Chipiron, said in a statement.
“Thanks to the trust of our investors, we now have the means to complete our research and development phase and begin clinical investigations in hospitals as early as next year. Our goal has remained the same since day one, to transform MRI accessibility and fundamentally change medical care worldwide.”
MARKET SNAPSHOT
In 2021, Chipiron secured a $1.1 million pre-seed round, and, between 2022 and 2023, it received $1.1 million in non-dilutive funding that helped consolidate early research and development phases.
In 2023, Exor Ventures and Unruly Capital led a $2.7 million seed round.
Other companies in the MRI space include Hyperfine, which collaborated with NVIDIA in March to leverage NVIDIA’s AI expertise and rapid computing to strengthen Hyperfine’s portable imaging technology, the Swoop system.
The Swoop system produces images that display the internal structure of one’s head. The collaboration between Hyperfine and NVIDIA concentrates on advancing AI-powered image reconstruction and implanting real-time clinical decision support into portable MRI workflow.
In 2024, Springbok Analytics received FDA 510(k) clearance for MuscleView, an AI-powered technology that analyzes muscle health via MRI.
The AI-based technology analyzes MRI data and produces personalized 3D visualizations and metrics of muscle health.
Also last year, Sydney Neuroimaging Analysis Center secured government grant funding to market its AI-powered software for analyzing and monitoring brain diseases.
The funding helped scale and accelerate the commercialization of iQ-solutions’ AI-enabled medical imaging software, which provides quantitative analysis of brain structures from MRI scans.
It enables monitoring and management of brain diseases, including multiple sclerosis and dementia.
