Total amount raised
$150 Millions
Latest funding date
04/01/2023
Location
Noah Medical has successfully raised significant funding over multiple rounds, with its latest being a Series B round on April 19, 2023. The company is backed by a diverse group of investors, including Lenovo Capital and Incubator Group (LCIG) and Ironwood Ventures.
Keep reading to explore the intricacies of Noah Medical's fundraising journey and the investors backing this innovative medical robotics platform.
What Is Noah Medical?
Noah Medical, founded in 2018 by Jian Zhang, is a company specializing in medical robotics. Based in San Carlos, California, they focus on developing advanced robotic solutions for early diagnosis and treatment.
Their flagship product, the Galaxy System, is designed to enhance diagnostic accuracy and procedural efficiency in interventional pulmonology. This system includes features like Tool-in-Lesion Tomography (TiLT) technology and single-use bronchoscopes to improve patient outcomes.
With a team of 251-500 employees, Noah Medical continues to innovate in the medical robotics field, aiming to provide hospitals with tools that allow for earlier and more effective patient care.
How Much Funding Has Noah Medical Raised?
- Series B Round
- Amount Raised: $150M
- Date: April 2023
- Lead Investors: SoftBank Vision Fund, Prosperity7 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the adoption of the Galaxy System and accelerate R&D for non-invasive platforms.
Total Amount Raised: $150M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in Noah Medical are as follows:
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest venture capital funds globally, focusing on technology-driven companies. It is known for making substantial investments in high-growth sectors.
- Investment Focus Areas: Technology, artificial intelligence, robotics.
- Notable Investments: Uber, WeWork, Arm Holdings.
- Prosperity7 Ventures
- Details: Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, focusing on transformative technologies. It aims to support companies that can create significant global impact.
- Investment Focus Areas: Transformative technologies, energy, sustainability.
- Notable Investments: Not specified.
- Tiger Global
- Details: Tiger Global is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. It has a strong track record of backing successful startups.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Hillhouse
- Details: Hillhouse is an investment management firm that invests in innovative companies across various sectors. It is known for its long-term investment approach and deep industry expertise.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Tencent, JD.com.
- Sequoia China
- Details: Sequoia China is the Chinese arm of Sequoia Capital, focusing on technology and healthcare investments. It has played a significant role in the growth of many leading Chinese companies.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Alibaba, ByteDance, Meituan.
Valuation: Not publicly disclosed.
What's Next for Noah Medical?
With the recent $150 million Series B funding, Noah Medical is poised to scale the adoption of its Galaxy System, a cutting-edge solution for navigated robotic bronchoscopy. This significant financial boost will also accelerate research and development for non-invasive diagnostic and treatment platforms, positioning the company to expand its market presence in the lung biopsy sector.
Future fundraising opportunities seem promising, given the successful Series B round and the involvement of high-profile investors. This financial backing could pave the way for additional rounds to further scale operations and develop new technologies. However, Noah Medical will need to navigate regulatory approvals and ensure compliance with medical standards, all while competing with other established and emerging players in the medical robotics and diagnostic markets.
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