Funding profile · Women’s health imaging
iSono Health
An FDA-cleared breast ultrasound company with $3.7 million in federal grants and a Series A opened in January 2026. Here is what the filings show, and where they disagree with the announcements.
$14.7MTotal raised to date, company-reported (Jan 2026)
$3.71MFederal grants on record (NSF and NIH), 25% of the total
$1.84MSold of $3.0M offered, latest Form D (Mar 2025)
$155KRaised by a Sydecar SPV from 5 investors (May 2024)
Data as of September 21, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2016 | Y Combinator, Winter 2016 | Not disclosed | Y Combinator | YC data |
| After YC | Angel round, then seed | Not disclosed | Angels; Tsingyuan Ventures (now Foothill Ventures) | Founder interview |
| By May 2022 | Seed investors named | Not disclosed | Y Combinator, Foothill Ventures, Draper Associates, Plexo Capital, ATO Ventures, Camford Capital; support from JLABS and TMC Innovation | Company release |
| May 2024 | SPV: “iSono Health Inc Mar 2024, a Series of CGF2021 LLC” | $155,000 | 5 investors; administered by Sydecar | Form D |
| Dec 2024 to 2025 | Seed Preferred | $3.0M announced; $1.84M sold at filing | Led by Draper Associates and Transform VC; JSK Venture, GreenSand Equity, The Josephine Collective | Form D + release |
| Jan 2026 | Series A opened | Target not disclosed | None announced | Company release |
| 2017 to 2025 | Federal grants | $3.71M | NSF SBIR Phase I and II; NIH/NCI R44 | NSF, NIH |
What the filings show
iSono Health, Inc. · Form D · filed Mar 26, 2025
- First sale
- Dec 26, 2024
- Offered
- $3,000,000 equity
- Sold
- $1,837,679 · $1,162,321 remaining
- Investors
- 5 · average about $367,500
- Exemption
- Rule 506(b)
- Related persons
- Neda Razavi (executive officer, director); Shadi Saberi (director); Michael Jin (director)
- Filing
- SEC EDGAR, CIK 0002061881
iSono Health Inc Mar 2024, a Series of CGF2021 LLC · Form D · filed May 15, 2024
- First sale
- May 8, 2024
- Type
- Pooled investment fund (single-company SPV)
- Sold
- $155,000 of $155,000
- Investors
- 5 · average $31,000
- Exemptions
- Rule 506(b); Investment Company Act 3(c)(1)
- Related persons
- Sydecar LLC (administrator); Taylor Hughes (officer of the administrator)
- Filing
- SEC EDGAR, CIK 0002023191
Reading the filings
- The checks are institutional size.Five investors had put in $1,837,679 by the March 2025 filing, about $367,500 each. That is consistent with the venture funds named in the announcement, not a crowd of small angels.
- Angels came in through an SPV.In May 2024, seven months before that round’s first sale, a Sydecar-administered vehicle named for a March 2024 iSono deal raised $155,000 from five people, about $31,000 each. That is the usual way an angel syndicate gets into a round. The filing does not name who organized it.
- The announcement and the filing do not quite agree.The company calls 2025’s raise “a new $3 million Seed Preferred round” led by Draper Associates and Transform VC. The Form D confirms a $3.0M offering with $1.84M sold at filing. A Vestbee report in October 2025 said about $5 million was secured in early 2025 and named JSK Investments as lead. No amended Form D has been filed to settle it.
- Form D undercounts this company.No filing appears under iSono’s own CIK before 2025, though it raised money from 2016 on, and the SPV’s name points to a March 2024 financing that has no Form D of its own. Companies that raise under Section 4(a)(2) instead of Regulation D file no Form D at all, so the gap does not mean no money moved.
- A quarter of the capital is non-dilutive.$3.71M of the reported $14.7M came from NSF and NIH grants. NIH is also funding the AUDIBLE registry study, now enrolling.
- The board is small.The 2025 filing lists CEO Neda Razavi, who became chair in 2023; co-founder Shadi Saberi, who leads the ultrasound system work; and Michael Jin, a partner at Foothill Ventures according to the 2023 CEO announcement.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Regulatory | FDA 510(k) K213620, Apr 2022. AI features not cleared. | Public record |
| Launch | US commercial launch Jan 2026 with a service model: hardware, cloud software and consumables for recurring fees. | Company-stated |
| Customers | “Multiple paying clinics,” not named. | Company-stated |
| Distribution | ALJ Health, exclusive for 31 countries across the Global South (2023). | Partner-stated |
| Clinical evidence | AUDIBLE registry, up to 800 patients, primary completion est. Aug 2027. No peer-reviewed papers found. | Public record |
What to watch
- A new Form D for the Series A. It is due within 15 days of the first sale.
- An amended Form D for the Seed Preferred, which would settle the $3M versus $5M question.
- Named customers and revenue disclosures.
- AUDIBLE results, estimated for 2027.
The iSono Health story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordForm D, iSono Health, Inc.
- Public recordForm D, iSono Health Inc Mar 2024, a Series of CGF2021 LLC
- Public recordNSF awards 1722432 and 1927052
- Public recordNIH RePORTER R44CA291498
- Public recordFDA 510(k) K213620
- IndependentJSK Investments backs US startup iSono Health
- IndependentiSono launches point-of-care breast ultrasound system
- InterviewFounder’s Lessons: Dr. Maryam Ziaei
- CompanyLaunch release with funding totals
- CompanyFDA clearance release with investor list
- CompanyCEO appointment announcement
Compiled from SEC, NSF, NIH and FDA public records and published reports as of September 21, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in iSono Health. This page is not an offer to sell or a recommendation to buy any security.