Promaxo

Provides compact MRI solutions for urology

Oakland, California, United States

About Promaxo

Promaxo provides MRI solutions specifically designed for prostate imaging and image-guided biopsies. Their MRI system is compact and modular, allowing private medical practices, especially those in urology, to perform scans on-site without the need for extensive facility upgrades. This system uses low magnetic fields to generate high-quality images quickly and comfortably for patients. Unlike traditional MRI systems, Promaxo's technology is more accessible and cost-effective, enabling practices to avoid referring patients to external imaging centers, which reduces wait times and enhances patient care. The company differentiates itself with a strong intellectual property portfolio and a business model that allows clinics to recover the cost of the MRI system in less than a year. Promaxo's goal is to improve the quality of care in medical imaging by making MRI technology more available and affordable for healthcare providers.

Oakland, CaliforniaHeadquarters
2016Year Founded
$48.1MTotal Funding
EARLY_VCCompany Stage
Biotechnology, HealthcareIndustries
51-200Employees

Benefits

Health
Family
Community Activties
Convenience
Time Away
Growth

Risks

Increased competition in the portable MRI market may impact Promaxo's market share.
Reliance on AI systems exposes Promaxo to data privacy and regulatory compliance risks.
Expansion into new markets may strain operational resources and create logistical challenges.

Differentiation

Promaxo offers the first FDA-cleared portable MRI for prostate biopsy and treatment.
Their MRI systems require no extensive facility upgrades, unlike traditional MRI systems.
Promaxo's technology integrates AI and robotics for enhanced patient care and diagnostics.

Upsides

Promaxo's compact MRI systems reduce patient wait times and improve care efficiency.
The company benefits from existing CPT codes, aiding quick capital cost recovery.
Promaxo's strong IP portfolio with 60 patents supports its innovative edge.

Funding

Total raised$48.13 M
Latest valuation$158.05 M
StageEARLY_VC
EARLY VC
2/29/2024
$32
$158.05 M
SERIES B
7/31/2019
$8
$40.00 M
SERIES A
3/31/2018
$2
$11.00 M