Nanox has raised an additional $59 million for a total $110 million equity investment from global investors to build its full-body scanning hardware designed to replace X-rays and change medical imaging infrastructure, reports Tech Crunch

Israeli startup Nanox has big ambitions to take on the world of medical imaging and imaging analytics with hardware that reduces the size and cost of scanning equipment, plus software that improves the quality of images and the insights you can gain from them. 

Ran Poliakine, Nanox’s founder and CEO, said in an interview that today the startup makes the majority of its revenues from licensing deals: it provides IP to manufacturers like Foxconn, SK and Fuji (another investor) to build devices based on its concepts, and the plan is to have some 15,000 scanners out in the market over the next several years.

Nanox, of course, benefits on two sides with those deals: not only is it licensing its tech for the services, but it’s getting licensing fees connected to the hardware that’s being built and sold to use them.

As we have described before, the Nanox system is based around proprietary digital X-ray technology, a relatively new area in imaging that relies on digital scans rather than X-ray plates to capture and process images. Nanox’s flagship ARC hardware comes in at 70 kg compared to 2,000 kg for the average CT scanner, and production costs are around $10,000 compared to $1-3 million for the CT scanner.

Read the full story on Tech Crunch