Australian medical robotics company Vexev has raised $6 million to advance regulatory, manufacturing and commercialization activities for its AI-enabled robotic vascular ultrasound platform in the U.S. The latest financing brings the company’s total funding to $19 million.
Vexev develops VxWave, a platform combining robotics, artificial intelligence and ultrasound imaging to automate the acquisition of diagnostic images and blood flow data from veins and arteries. The technology uses high-frequency sound waves to capture vascular ultrasound data while reducing reliance on manual image acquisition.
The platform supports upper-limb imaging, with Vexev initially focusing on dialysis vascular access. Patients receiving dialysis require regular monitoring of their vascular access sites, creating a use case for more consistent and accessible imaging.
Vexev plans to use the new capital to accelerate its work toward U.S. Food and Drug Administration clearance, while supporting manufacturing capabilities and preparations for commercial deployment in the U.S.
The company also intends to expand VxWave beyond dialysis vascular access into additional vascular conditions, including cardiovascular and peripheral artery disease.
"We believe high-quality vascular imaging should be available wherever patients receive care, not only when a specialist is available," John Carroll, cofounder and CEO of Vexev, said in a statement. "We are starting with dialysis patients because the clinical need is clear, but our vision is much broader: to build an autonomous imaging platform that helps clinicians make faster, more consistent and more informed decisions across vascular disease."
Vexev is developing its platform within a broader market for AI-enabled vascular imaging and care coordination. Elucid provides AI-based imaging analysis software focused on cardiovascular disease and raised $80 million in Series C financing in 2023, bringing its reported total funding to $121 million.
Viz.ai also operates in the vascular technology market through Viz Vascular, an AI platform designed to support vascular care coordination. The company raised $100 million in Series D financing, following a previous $71 million Series C round. That Series D brought Viz.ai’s reported total funding to $250 million and valued the company at $1.2 billion.
Vexev’s latest financing will now support its progression toward FDA clearance and the operational requirements needed to introduce VxWave to the U.S. market.
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