Promaxo Raises $4.17M in Funding Round Led by Huami Corporation
January 13 2021 - 11:40AM
Business Wire
Promaxo continues to build momentum in bringing
their patient-centric MRI to physician’s offices
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.
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“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.
Promaxo was founded by a team of entrepreneurs and healthcare
innovators to develop a minimally-invasive and patient-centric MRI
and robotic platform. Based in Oakland, California, and backed by
over 60 patents, the company’s mission is to improve lives through
state-of-the-art medical imaging, robotics and AI capabilities.
With a compact and adaptable MRI, Promaxo is redefining the
standard of care by improving the quality and speed of patient
screening and interventions. The Company has formed numerous
long-term and strategic partnerships with investor groups as it
prepares to enter the US market.
About Huami Corporation
Huami's mission is to connect health with technology. Since its
inception in 2013, Huami has developed a platform of proprietary
technology including AI chips, biometric sensors, and data
algorithms, which drive a broadening line of smart health products
for consumers, and analytics services for industry. In 2019, Huami
shipped 36.6 million units of smart watches and fitness bands,
including its own Amazfit brand, and products developed and
manufactured for Xiaomi, comprising 23% of global category
shipments. Huami Corporation is based in Hefei, China, with U.S.
operations, Huami-USA, based in Cupertino, Calif.
To learn more about the technology behind the MRI system and its
scope, visit: Promaxo.com. LinkedIn: Promaxo Twitter: @Promaxo
Facebook: Promaxo
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version on businesswire.com: https://www.businesswire.com/news/home/20210113005241/en/
Media Contact: Lindsey Hill Jive PR + Digital e:
lindseyhill@jiveprdigital.com m: 951.566.6413
www.jiveprdigital.com
Huami Media Contact: Lydia Huang Huami-USA
Lydia.huang@huami-usa.com m: 407.800.5625
Huami Investor Contact: Brad Samson Huami-USA
Brad.samson@huami-usa.com m: 714.955.3951
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