Promaxo Raises $4.17M in Funding Round Led by Huami Corporation
Summary
“We are thrilled to have the financial support to help execute our vision and look forward to providing the best healthcare possible to our patients and clinical partners.” The trailblazing medical technology company plans to use the funds to accelerate its data strategy as it continues to incorporate artificial intelligence in imaging and image-based interventions. Promaxo’s patient-centric approach will provide patients with cutting-edge technology as it works to expand the frontiers of knowledge in the fields of medical imaging, robotics, and artificial intelligence. Promaxo and Huami will continue to explore a partnership for the application of artificial intelligence, product integration opportunities, and commercialization, making them a natural fit to serve as strategic partners. Since its inception in 2013, Huami has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, which drive a broadening line of smart health products for consumers, and analytics services for industry. In 2019, Huami shipped 36.6 million units of smart watches and fitness bands, including its own Amazfit brand, and products developed and manufactured for Xiaomi, comprising 23% of global category shipments.