TracInnovations to raise $11.4 million from London based venture capital firm West Hill Capital and other investors.

TracInnovations, a Copenhagen, Denmark developer of advanced medical technology, announced a capital increase in a round closed at $11.4 million.

The money was raised from investors including London based venture capital firm West Hill Capital and existing shareholders of the company.

TracInnovations, led by CEO Kim Bendixen was founded in 2015 based on the research work of Oline Vinter Olesen (CTO). The company developed technology that enables magnetic resonance imaging (MRI) scans of children and adults who struggle to lie still during the scan - a markerless motion tracking and correction solutions for the MRI environment, particularly suitable for medical brain imaging. The Company’s entry product comprises a surface tracking device, known as Tracoline, and an associated primary software system package known as TracSuite that computes and displays motion data in real-time. Based on this data it is possible to produce motion corrected images, enabling MRI clinics to reduce the need for rescans caused by patient movement, as well as the use of anesthesia and sedation needed for patients that struggle to lie still, such as children – research suggests this can spare children from potentially dangerous side effects from anesthesia and sedation while the hospitals gain significant yearly cost savings.

Customers include MRI research sites in the world, already being installed in Denmark, USA, Wales, Sweden, France, Germany and Swtizerland in institutions such as Boston Children’s Hospital and The Danish National Hospital (Rigshospitalet).

TracInnovations previously secured funding from Investo Capital and Syddansk Innovation as well as an angel contribution from local Danish private investors Dale Flanders, David Hardwick and Jes Broeng,