$33M raised: Subtle Medical has closed $33 million in Series C funding led by Morgan Stanley Expansion Capital, with Shinhan Venture Investment joining as a new Korean investor and existing backers Fusion Fund, EnvisionX, BRV, and Samsung Ventures participating. The round brings total funding to $86 million. Ohad Arazi, previously CEO of Clarius Mobile Health and an executive at Zebra Medical Vision, TELUS Health, and Change Healthcare, joins as the new CEO. Co-founder Enhao Gong moves from CEO to Chief Science Officer.
Subtle Medical is vendor-neutral AI for medical imaging acquisition. The software bolts onto existing MRI, PET, and CT scanners without hardware swaps. SubtleMR accelerates MRI scans by up to 80% through deep learning denoising and reconstruction. SubtlePET enables either up to 4x faster PET scans or significantly lower-dose imaging. A new CT product is awaiting FDA clearance. The Menlo Park company holds 11 FDA 510(k) clearances, is CE-marked in Europe, has published 25 plus peer-reviewed papers, and is deployed on 1,300 plus scanners globally across health systems, imaging networks, and academic medical centers.
The competitive frame matters. Aidoc, Rad AI,
Annalise.ai, and Lunit sit in the diagnostic and triage lane. Subtle owns the acquisition lane, which has fewer entrants and a clearer ROI for radiology departments dealing with throughput bottlenecks. The Bracco Imaging partnership on AI-enabled contrast adds a second revenue line beyond direct hospital sales.
CEO Ohad Arazi and CSO Enhao Gong continue alongside co-founder Greg Zaharchuk, the Stanford neuroradiology professor whose research seeded the company. The new capital funds product development, global commercial expansion, and scaling. The stated path is break-even within 24 months.