Multiwave Technologies Secures CHF 3.6M and Expand Operations in the US

Geneva-based Multiwave Technologies AG has raised CHF 3.6 million (USD 4.5 million) in fresh funding to accelerate the development and regulatory approval of its portable MRI device, MGNTQ™, and to expand its global operations with a new assembly plant in Lowell, Massachusetts.

The investment, completed across 2024 and 2025, comes from a group of senior US healthcare executives, a Geneva-based clinic, a former Director of the London Mathematical Laboratory, and Geneva-based investment firm Ava Investors, which increased its stake following an initial investment in 2023.

Proceeds will support Multiwave’s FDA 510(k) clearance process, with a commercial launch planned for 2026 in the United States. The new facility in the Boston area will serve as the company’s main hub for global assembly, strengthening its presence in the US market.

Founded in 2015 and headquartered at Geneva’s innovation incubator Fongit, Multiwave also operates a research center in Marseille, France. The company is on a mission to make MRI more accessible and affordable worldwide, with a particular focus on brain health.

“Our mission is to improve global health and longevity through affordable MRI, with a dedicated focus on protecting and enhancing brain health,”
said Tryfon and Panos Antonakakis, co-founders and co-CEOs of Multiwave Technologies AG.

➡️ Source: Press Release | 📸 Tryfon and Panos Antonakakis, co-founders and co-CEOs, © Multiwave Technologies AG