Subtle Medical figures out $12.2m

Subtle Medical, a US-based medical imaging software producer based on research at Stanford University and backed by its affiliate Stanford-StartX Fund, has received $12.2m of series A funding.
The round was led by 3E Bioventures Capital and also featured Tsingyuan Ventures, a vehicle with ties to Tsinghua University angel investors, as well as Fusion Fund, Data Collective, Delta Capital, Crista Galli Ventures, Nina Capital and unnamed additional investors.
Subtle Medical develops artificial intelligence-driven medical imaging software products that have been designed to run from the healthcare provider’s existing imaging machines.
The funding will help expand its operation to cope with demand for its first two products, including through its existing client base, consisting of 50 medical imaging sites in the US and internationally.
Subtle Medical previously secured an undisclosed amount of funding in mid-2018 from Deep Health Seed Program, a seed-stage fund of Bessemer Venture Partners.
The spinout obtained $1.1m at an undisclosed date – though deals database CrunchBase says, without identifying a source, that it occurred in December 2017 – from Baidu Ventures, a corporate venturing subsidiary of internet group Baidu, as well as ZhenFund, Data Collective, Wisemont Capital and Tsingyuan Ventures.
Momemtor Ventures, a California-based venture capital firm with links to China’s ZhenFund, has also backed Subtle Medical previously.
Enhao Gong, founder and chief executive of Subtle Medical, said: “Our mission is to make medical imaging better, safer and more comfortable for patients while creating new workflow efficiencies for hospitals and imaging centres.”
– This article was updated on November 24, 2020 to amend details of Subtle Medical’s funding history.