Israeli medtech company Nanox raises additional $20 million to expand in South Korea and Vietnam

Nanox, an Israeli medtech company that is combining a digital X-ray device with cloud-based software, has raised $20 million from SK Telecom, which closes its fundraising round at $51 million. This past January the company announced a $26 million investment from Foxconn.

In its pursuit to “democratise medical imaging”, Nanox has developed an X-ray device — Nanox.ARC — that is far lighter (70 kg versus 2,000 kg) and less expensive than a CT scanner. Not only is the hardware more accessible, the business model’s flexibility encourages wider access as well. Health providers will pay the Israeli company per scan.

SK Telecom and Nanox have agreed to deploy 2,500 of the Nanox.ARC systems in South Korea and Vietnam during 2021. SK’s CEO Jung Ho Park will join the medtech startup’s board.