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Overview
Promaxo makes compact, modular MRI systems for private medical practices, especially urology, enabling on-site prostate imaging and image-guided biopsies. The low-field MRI delivers fast, high-quality images without extensive facility upgrades or cryogens, reducing disruption for clinics. Revenue comes from selling these systems to clinics with low capital and operating costs, aided by CPT codes that can help recover costs within a year. The company differentiates itself by integrating MRI into routine private-practice care, improving access, reducing referrals, and lowering patient anxiety while aiming to make MRI more affordable and available.
About Promaxo
Industries
Hardware
Healthcare
Company Size
51-200
Company Stage
Early VC
Total Funding
$49.5M
Headquarters
Oakland, California
Founded
2016
Simplify's Take
What believers are saying
- Raised $72.3M across 11 rounds, including Series C in March 2024.
- Fred Moll invested and advises, leveraging 40 years in surgical robotics.
- Zynext Ventures funds expansion of portable MRI and robotics post-FDA clearance.
What critics are saying
- Hyperfine's Swoop deploys in 120+ sites, undercutting with lower costs.
- Intuitive Surgical's da Vinci SP installs 150+ units for biopsies at half cost.
- Philips AI software captures 25% urology share, obsoleting low-field imaging.
What makes Promaxo unique
- Promaxo delivers first in-office single-sided low-field MRI for prostate biopsies.
- Proprietary robotics and AI enable targeted interventions without facility shielding.
- FDA 510(k) cleared system supports urology practices with 55+ patents.
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Funding
Total Funding
$49.5M
Below
Industry Average
Funded Over
5 Rounds
Benefits
Health
Family
Community Activties
Convenience
Time Away
Growth
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -6%2 year growth
↑ 7%Promaxo - Funding & investors. Last updated: March 10, 2026 Promaxo's funding rounds. Promaxo has raised a total of $72.3M over 11 funding rounds: 3 Seed, 6 Early-Stage, 1 Late-Stage and 1 Debt round s. Promaxo's largest funding round so far was a Series C round for $***** in Mar 2024. Here is the list of all funding rounds of Promaxo: | Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors | | Mar 25, 2024 | 3666619 | Series C | 6851967 | 8368500 | 1781335 | 1274412 | | Feb 2024 | 8329048 | Conventional Debt | 7953840 | 6289634 | 5883886 | 8884546 | | Oct 04, 2023 | 1517129 | Angel | 1092265 | 6683879 | 5861266 | 7457007 | | Apr 28, 2022 | 4694946 | Series B | 1920357 | 9920896 | 6312083 | 7823439 | | Jan 07, 2021 | 4720833 | Series B | 3775326 | 5982356 | Huami | 8567676 | | May 21, 2020 | 6080895 | 149189 | 4080539 | 4125086 | 5196788 | 8842023 | | Aug 08, 2019 | 1875733 | 791728 | 4463331 | 3989720 | 4819843 | 7643136 | | Apr 10, 2018 | 8196599 | 326858 | 9910513 | 9652524 | 1425267 | 9479033 | | Sep 22, 2017 | 3598155 | 236488 | 5172980 | 9617281 | 4222474 | 4751637 | | Jan 12, 2017 | 2991593 | 522732 | 2713534 | 4362610 | 9334581 | 7437161 | | Dec 13, 2016 | 4542396 | 497791 | 1383774 | 3405593 | 2944695 | 9229879 | Promaxo's investors. Promaxo has total 11 investor s, 10 are institutional investors including Zepp Labs and 9 others. Here is the list of institutional investors of Promaxo: * Huami, made their first investment in Promaxo on Jan 07, 2021 in its Series B round. Are you a Founder? FAQs about Promaxo's funding and investors. Promaxo has raised a total of $72.3M over 11 rounds. Promaxo's largest funding round was a Series C round held on Mar 25, 2024 for $*****. * 6 Early-Stage rounds * 3 Seed rounds * 1 Late-Stage round * 1 Debt round Promaxo has a total of 11 investors. 10 are Institutional investors and 1 is Angel investor. Explore latest companies that raised funding recently * Phoebe - London based, raised a funding of $17M in Seed round held on Aug 20, 2025. * Overhaul - Austin based, raised a funding in Conventional Debt round held on Aug 20, 2025. * Overhaul - Austin based, raised a funding of $105M in Series C round held on Aug 20, 2025. * Molecular You - Vancouver based, raised a funding of $5M in Series A round held on Aug 20, 2025. * Dropla Tech ApS - Copenhagen based, raised a funding of $2.8M in Seed round held on Aug 20, 2025.
Zynext Ventures, the VC arm of Zydus Lifesciences, announced its investment in Promaxo Inc., a US-based developer of portable low-field MRI systems and minimally invasive robotics. Promaxo's technology, which has received FDA 510(k) clearance for prostate biopsy and treatment, aims to revolutionize point-of-care imaging and interventions. This investment supports Promaxo's mission to enhance patient care and broaden access to image-guided interventions.
The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.
Further, in June 2022, Promaxo Inc. launched an in-office MRI system-a single-sided MRI integrated with an AI-based imaging system-at East Valley Urology Centre.
Promaxo was founded by a team of entrepreneurs and healthcare innovators to develop a minimally-invasive and patient-centric MRI and robotic platform.
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About Promaxo
Industries
Hardware
Healthcare
Company Size
51-200
Company Stage
Early VC
Total Funding
$49.5M
Headquarters
Oakland, California
Founded
2016
There are no jobs for Promaxo right now.
Find jobs on Simplify and start your career today