Elucid raises $55M oversubscribed Series D to advance AI cardiovascular platform

Elucid, a Boston-based medical technology company, has closed an oversubscribed $55 million Series D financing round, bringing its total funding to date to approximately $185 million. The round includes new participation from a large MedTech company joining as Elucid's fourth publicly-traded strategic investor, alongside other new and existing backers including IAG Capital Partners and Elevage Medical Technologies, a Patient Square Capital platform.

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Proceeds will accelerate commercial expansion of Elucid's cardiovascular imaging platform, which uses AI to convert routine CT angiography scans into detailed insight on plaque biology, vessel anatomy, and blood flow physiology. The platform centers on two components: Plaque-IQ, the company's FDA-cleared software for quantifying high-risk plaque type and composition in coronary and carotid arteries, and BioIntegrated FFR-CT, a non-invasive alternative to invasive fractional flow reserve testing currently under FDA 510(k) review. Elucid intends for the two, combined with a new user interface and reporting workflow, to function as a single clinical decision platform.

For Elucid, the raise and its expanding roster of strategic MedTech investors point to growing industry confidence in non-invasive cardiovascular diagnostics as the company prepares for FFR-CT's regulatory clearance and full commercial launch. For the broader MedTech space, it adds to continued investment in AI-driven cardiovascular imaging, a category addressing atherosclerotic disease, the leading cause of death worldwide, and one where precision, patient-specific risk stratification is increasingly positioned as an alternative to one-size-fits-all treatment approaches.

CEO Kelly Huang, PhD, compared the shift to oncology's move away from population-based treatment, noting physician feedback that the platform can lead to "better care decisions."