TracInnovations secures USD 7.8 million investment

Ballerup, Denmark – August 6, 2024 – TracInnovations, innovative developer of markerless motion tracking and correction solutions for the MRI industry, announced the successful closing of a USD 7.8 million investment round. The investment round was led by the London-based venture capital firm West Hill Capital, supported by additional backing from current investors.

The funding will enable TracInnovations to drive development and growth across several key areas. This includes scaling production and sales efforts and obtaining further regulatory approvals, with an overall focus on establishing a position in the clinical markets as the leading motion correction provider.

“I am immensely proud of our ability to close a significant capital raise in the current financial environment”, said Stefan Ovesen Banke, CEO at TracInnovations. “This investment is a testament to the impactful change TracInnovations is striving to introduce into the healthcare sector. We are confident that we will be making a difference for patients and healthcare providers worldwide”

This investment round enables TracInnovations to continue to pursue a future where patient movement is no longer a barrier for medical imaging, eliminating rescans and the need for anesthesia in medical imaging, with the aim of creating a new standard for global healthcare.

About TracInnovations:
TracInnovations is a MedTech company from Denmark, established in 2015 with the vision of providing accurate and reliable motion tracking and correction for the MRI environment, enabling especially children and certain motion impaired patients to be scanned without the use of anesthesia or sedation.