MARS Bioimaging Secures $15 Million to Expand Spectral Photon-Counting CT Imaging Globally

MARS Bioimaging, a New Zealand–based company pioneering portable spectral photon-counting CT technology, has completed an oversubscribed $15 million Series A funding round to accelerate the commercial rollout of its cutting-edge imaging systems. The round was led by New Zealand venture capital firm Pacific Channel and included international investors from Singapore and Switzerland, the latter secured through New Zealand’s Active Investor Plus (AIP) programme with support from NZTE and Invest New Zealand.

The investment was split into two tranches: $7.6 million in an initial close, followed by an additional $7.4 million raised in early 2026. The capital will support the global expansion of MARS’s diagnostic and clinical research CT scanners, with a focus on the U.S., New Zealand, and emerging markets such as India.

MARS Bioimaging’s technology represents a significant leap forward in diagnostic imaging. Its scanners offer 3D color X-ray images that differentiate between materials with a level of detail that far surpasses conventional CT. This enables more accurate visualization of soft tissue, bone, blood vessels, and implants—without requiring injected contrast agents.

Christopher Stoelhorst, Chairman of MARS Bioimaging, said the funding will provide momentum to drive global adoption and advance the company’s mission to improve health equity and outcomes.

“This investment gives us the momentum to scale adoption of our diagnostic and clinical research scanners and drive meaningful improvements in health economics and equity,” Stoelhorst said. “The calibre of new international investors we have attracted reinforces our strategy and enables us to accelerate our growth plans.”

The company’s flagship devices, the MARS Extremity and Microlab scanners, are the first portable spectral photon-counting CT scanners available for commercial use. These compact, high-resolution imaging systems are designed for preclinical research and point-of-care diagnostics, with applications in orthopaedics, vascular imaging, and drug development.

Brent Ogilvie, Managing Partner of Pacific Channel, emphasized that MARS is entering a key phase of growth.

“MARS Bioimaging is entering a critical growth phase, with its photon-counting CT scanners progressing along a clear clinical pathway,” Ogilvie said. “This investment reflects our confidence in MARS’s differentiated technology, its world-class team, and its ability to deliver meaningful improvements in clinical and research outcomes through advanced imaging.”

Dr. Ojas Mahapatra, Group CEO of MARS Bioimaging, noted that the investment will support expansion efforts in both established and emerging markets.

“This investment allows us to build our market capability, including expanding our sales and business development teams in New Zealand and the United States,” Mahapatra said. “Our new investors will also help open access to emerging markets, while NZTE will continue to be an important partner supporting our international expansion.”

With its ability to provide detailed 3D color imaging in a portable format, MARS Bioimaging aims to reshape how clinicians and researchers approach diagnostics—especially in community settings where traditional imaging infrastructure is often unavailable.