Father-son startup MAUI Imaging raises $14 million to transform ultrasound technology. Read its pitch deck.

MAUI Imaging, a medical startup founded by a father-son team, has successfully raised $14 million in Series D funding aimed at advancing ultrasound technology. Unlike traditional ultrasound applications that primarily focus on soft tissue, MAUI Imaging is developing a system capable of penetrating barriers such as bone, gas, fat, instruments, and implants. This innovative approach aims to speed up diagnosis and treatment, particularly in trauma situations where conventional imaging methods like CT or MRI scans are typically required. Established in 2006 in a Silicon Valley garage, MAUI Imaging stands for Multiple Aperture Ultrasound Insonification. The late Don Specht, who previously worked on space telescopes at Lockheed Martin, began developing this technology with his son David, a former Air Force pilot turned entrepreneur. David, who now serves as the company's CEO, noted that the long journey of development was contingent on technological advancements, specifically Moore's Law. Emerging from stealth mode in August 2024, MAUI Imaging recently secured a $4 million contract from the Department of Defense to explore the technology's potential military applications. The portable ultrasound system is particularly appealing for trauma assessment by corpsmen and medics who have limited training, allowing for quicker decision-making in the field due to a shortage of doctors. David Specht emphasized the wealth of data that MAUI's imaging can generate, which could prove invaluable for AI health applications. Currently, the company employs eight staff members and collaborates with eight consultants, having raised approximately $40 million to date. The Series D funding round was led by Acertara, a company specializing in ultrasound devices, which now holds exclusive distribution rights for MAUI's system. The average sales price for this groundbreaking technology is around $85,000, excluding maintenance fees. While the FDA has already approved the device for standard ultrasound uses, MAUI Imaging is preparing to use insights from its military clinical trials to obtain clearance for making claims regarding its ability to see through various obstructions.