DeepSpin

DeepSpin operates at the intersection of medical devices, AI, and point-of-care imaging. Its stated differentiation is an open, portable Flatbed MRI using low-field, single-sided magnet architecture rather than the large enclosed systems associated with Siemens Healthineers, GE HealthCare, and Philips. The company also overlaps with portable low-field MRI specialist Hyperfine, but DeepSpin emphasizes a flatbed configuration, unrestricted patient access, and an installation footprint below 20 square feet. Its proposed operating model removes or reduces requirements for shielded rooms, cryogenics, reinforced floors, high-voltage infrastructure, and dedicated control hardware. That could make the system more applicable to smaller clinics, interventional workflows, and settings where conventional MRI infrastructure is impractical. With $15.85 million raised and an eight-round funding history dominated by grants and convertible notes, DeepSpin appears to remain in technology development and commercialization preparation rather than competing at the scale of established imaging manufacturers.

DeepSpin’s trajectory shows a progression from early seed financing to larger technology-development support. The company raised two seed rounds in March and June 2020 totaling $981,593, followed by a $3.82 million convertible note and a $4.15 million grant in 2021. Its next identifiable financing step came in August 2024, when it recorded a $3 million convertible note alongside a $1.29 million grant. The $2.6 million grant announced on Apr 1, 2026 is the latest disclosed funding event and brings cumulative funding to $15.85 million. This pattern suggests a capital strategy combining equity-like instruments with non-dilutive grants, consistent with the long development cycles and infrastructure requirements of medical hardware. Product development has also advanced through patent filings on magnetic resonance apparatuses, rotatable magnetic fields, and coil geometry between 2023 and 2024. The main unresolved inflection point is commercialization: there is no confirmed regulatory milestone, revenue disclosure, launch date, or installed-base figure.