The funding will support the commercialisation of Activ Surgical’s ActivInsights augmented reality (AR) software suite
Activ Surgical closes $45m financing round. (Credit: Sasin Tipchai from Pixabay.)
Activ Surgical has secured $45m in a Series B financing round to support the development of its ActivInsights augmented reality (AR)-based software suite.
Led by Cota Capital, an investment firm focused on enterprise technology companies, the latest funding round brings the company’s total investment to $77m.
New investors BAM Funds, Magnetar Capital, Mint Ventures, Castor Ventures, Dream One Vision and NVIDIA participated in the financing, alongside existing investors.
Existing investors include DNS Capital, Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures (GPV) and ARTIS Ventures.
In relation to the Series B fundraise, Cota Capital founder and partner Bobby Yazdani will be appointed as members of Activ Surgical Board of Directors.
Yazdani said: “Activ Surgical is on pace to solve the ‘last mile’ challenge for the surgical field and revolutionize the operating room as we know it.
“The company’s cutting-edge product portfolio, coupled with its talented and experienced leadership team and staff, has the potential to deliver world-class surgery, regardless of geography or economic status, while helping to save lives and reduce medical complications.
“We are thrilled to be the lead investor on this Series B fundraise and are excited about what the future holds for the company and its technology.”
Activ Surgical is developing a hardware-agnostic platform that includes the ActivInsights AR-based software suite.
The software is said to facilitate autonomous and collaborative surgery powered by computer vision, artificial intelligence (AI), machine learning (ML), AR and robotics.
The company intends to use the proceeds from the financing to support the commercialisation of its ActivInsights software suite.
Its software suite includes an AR-based overlay, which offers real-time display of tissue perfusion, eliminating the need for use of traditional dyes.
Activ Surgical is also planning to use the funding to support the commercialisation of its ActivInsights software platform in the US.
Furthermore, the company intends to obtain a CE mark for a global rollout, and further enhance the platform and develop its first ML-based insights.
Activ Surgical CEO Todd Usen said: “2021 continues to be a critical year for Activ Surgical as we are laser-focused on democratizing surgical care at the global level.
“We received FDA clearance for our ActivSight enhanced visualisation module that will power the ActivInsights software suite, and were issued our first US patent for ActivSight, as well as completed our first in-human clinical trials and have grown our team by 35%.
“The addition of seven new investors spanning the medical and technology industries is a wonderful testament to our team’s vision and work to-date. We are thrilled to be supported by this diverse group of investors, and we welcome Bobby to our Board as we look to make our ActivInsights software suite commercially available in 2022.”