About Promaxo
Promaxo is a company based in Rockville (United States) founded in 2016 by Irving Weinberg, Michael Bartholomew, and Amit Vohra.. Promaxo has raised $72.28 million across 10 funding rounds from investors including Zepp, MicroPort Orthopedics and TEDCO. The company has 22 employees as of December 31, 2021. Promaxo offers products and services including Promaxo MRI System. Promaxo operates in a competitive market with competitors including Openwater, Hyperfine, InkSpace Imaging, MRIguidance and Fonar, among others.
- Headquarter Rockville, United States
- Employees 22 as on 31 Dec, 2021
- Founders Irving Weinberg, Michael Bartholomew, Amit Vohra
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Sectors
Healthcare
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Promaxo, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$72.28 M (USD)
in 10 rounds
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Latest Funding Round
$41.94 M (USD), Series C
Mar 25, 2024
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Investors
Zepp
& 8 more
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Employee Count
22
as on Dec 31, 2021
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Products & Services of Promaxo
Promaxo offers a comprehensive portfolio of products and services, including Promaxo MRI System. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables in-office MRI-guided prostate biopsies and cancer detection.
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Funding Insights of Promaxo
Promaxo has successfully raised a total of $72.28M across 10 strategic funding rounds. The most recent funding activity was a Series C round of $41.94 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Series C — $41.9M
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First Round
First Round
(13 Dec 2016)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series C - Promaxo | Valuation |
investors |
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| Oct, 2023 | Amount | Angel Round - Promaxo | Valuation | Fred Moll |
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| Apr, 2022 | Amount | Series B - Promaxo | Valuation | Zepp Labs |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Promaxo
Promaxo has secured backing from 9 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Zepp, MicroPort Orthopedics and TEDCO. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Zynext Ventures is focused on funding disruptive healthcare innovations.
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Founded Year | Domain | Location | |
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MedTech Venture Partners is focused on medical technology investments.
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Founded Year | Domain | Location | |
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Almond Tree Capital is focused on accelerating MedTech companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Promaxo
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Promaxo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Promaxo Comparisons
Competitors of Promaxo
Promaxo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Openwater, Hyperfine, InkSpace Imaging, MRIguidance and Fonar, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of imaging technologies for medical diagnosis and treatments
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| domain | founded_year | HQ Location |
Portable MRI systems are manufactured for medical professionals.
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| domain | founded_year | HQ Location |
Patented customized MRI coils are developed for pediatric applications.
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| domain | founded_year | HQ Location |
An MRI-based platform for bone diagnostics is provided.
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| domain | founded_year | HQ Location |
Upright multi-position MRI systems are developed for disease diagnostics.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Promaxo
Frequently Asked Questions about Promaxo
When was Promaxo founded?
Promaxo was founded in 2016.
Where is Promaxo located?
Promaxo is headquartered in Rockville, United States. It is registered at Rockville, Maryland, United States.
Who is the current CEO of Promaxo?
Amit Vohra is the current CEO of Promaxo. They have also founded this company.
Is Promaxo a funded company?
Promaxo is a funded company, having raised a total of $72.28M across 10 funding rounds to date.
How many employees does Promaxo have?
As of Dec 31, 2021, the latest employee count at Promaxo is 22.
What does Promaxo do?
The company was founded in 2016 in Rockville, United States, within the medical imaging sector. Portable MRI systems targeted at cancer diagnostics are produced, with a focus on prostate applications. Imaging data for prostate scans is collected and analyzed through the platform technology, achieving results in less time than traditional MRIs. Initial use involves screening patients with elevated PSA levels to evaluate biopsy requirements.
Who are the top competitors of Promaxo?
What products or services does Promaxo offer?
Promaxo offers Promaxo MRI System.
Who are Promaxo's investors?
Promaxo has 9 investors. Key investors include Zepp, MicroPort Orthopedics, TEDCO, Zynext Ventures, and Fred Moll.
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