Elucid Raises $80M in Series C Funding

Elucid, a medtech company providing cardiovascular-focused AI-powered imaging analysis software, recently announced it has raised $80 million in Series C funding. The funding was led by Elevage Medical Technologies, with participation from both industry strategics and existing investors. The company’s funding now totals $121 million since inception.

“Elevage believes leading this investment in Elucid is pivotal to support the development and commercialization of its groundbreaking diagnostic tools,” said Dr. Evan Melrose, CEO of Elevage, in a press release. “We see an important market need for AI-powered cardiovascular software and are excited to partner with Elucid to help improve the diagnosis and management of heart disease and benefit patients worldwide.”

Elucid’s software addresses the need for objective, non-invasive diagnostic methods that more accurately quantify and characterize plaque, they said. It is FDA cleared and able to accurately characterize arterial plaque, which simulates what pathologists would see under a microscope, establishing a histologic ground truth.

Currently, the company is pursuing an additional indication for noninvasive measurement of fractional flow reserve, “uniquely derived from its PlaqueIQ technology, to measure coronary blockages and the extent of ischemia,” according to the release.

Along with the news of the funding, Elucid also announced new additions to its board of directors, namely, Dr. Melrose and Dr. Kelly Huang, Elevage senior advisor.