What's Happening?
Wellumio, a New Zealand-based company, has raised $7.28 million in the first close of its pre-Series A funding round. The investment, led by Nuance Connected Capital, aims to accelerate the development of Wellumio's portable stroke detection technology, Axana. This device is a 50kg, battery-powered MRI scanner that can be used at the point of care, eliminating the need for traditional MRI infrastructure such as shielded rooms and cryogenics. The funding round also saw participation from Icehouse Ventures, NZ Growth Capital Partners, Pacific Channel, and the New Zealand Government’s Active Investor Plus program. Axana targets the critical 'golden hour' in stroke care, aiming to increase the percentage of patients who receive timely treatment
by reducing transport and scheduling delays.
Why It's Important?
The development of portable MRI technology like Axana could significantly impact stroke care by enabling faster diagnosis and treatment. Currently, less than 5% of stroke patients receive treatment within the optimal window due to logistical challenges associated with traditional MRI machines. By making MRI technology more accessible and mobile, Wellumio's innovation could improve patient outcomes and reduce the burden on healthcare systems. This advancement is particularly relevant in emergency and acute care settings, where time is critical. The successful funding round underscores the clinical need for such technology and the potential for widespread adoption in the healthcare industry.
