Activ Surgical Raises $15 Million to Advance Autonomous, Collaborative Surgery
July 16, 2020 | PR NewswireEstimated reading time: 2 minutes
Activ Surgical™, a digital surgery pioneer, announces the close of a $15 million venture round. The financing was led by ARTIS Ventures, a venture firm focused on pioneering investments at the intersection of life sciences and computer sciences. LRVHealth, the "Inside Healthcare" venture capital platform, joined the round, along with participation from existing investors DNS Capital, GreatPoint Ventures (GPV), Tao Capital Partners and Rising Tide VC.
Activ Surgical is building a hardware-agnostic platform to enable autonomous and collaborative surgery through the integration of computer vision, artificial intelligence and robotics. Activ Surgical will use proceeds of the latest financing round to accelerate U.S. commercialization and European expansion efforts for its ActivEdge™ platform, which enables existing surgical systems, from scopes to robots, to visualize, characterize and track tissue, in real-time beyond today's human capability. To date, Activ Surgical has raised a total of $32 million.
Preventable medical errors are the third leading cause of death after heart attack and cancer1, with preventable surgical errors costing U.S. health care $36B+ and 400k+ deaths every year2. Activ Surgical's patent-protected surgical software platform reduces unintended and preventable surgical complications by enhancing a surgeon's intra-operative decision making. In 2018, Activ Surgical completed the world's first fully autonomous minimally invasive robotic surgery of soft tissue.
"We believe Activ Surgical's platform and technology are poised to transform the surgical space by enabling existing surgical systems and robots to visualize what surgeons can't and guide them, thus making surgeries safer, reducing errors and improving patient outcomes," said Ameena El-Bibany, principal, ARTIS Ventures. "They have achieved major milestones in just a few years, advancing their technology from early proof of concept to their first market-ready product to be launched with early access partners in 2021. We look forward to partnering with the company to bring impact to both surgeons and patients."
"Developing next generation healthcare solutions is in our DNA at LRVHealth, and it is clear that Activ Surgical will be a disruptor in the digital surgery category," said Will Cowen, co-founder and general partner, LRVHealth. "Our network of limited partners, including leading providers, payers and vendors that together touch one in three healthcare consumers in the U.S., relies on us to help them uncover and develop innovative solutions. Activ Surgical's first-of-its-kind surgical intelligence and sensing platform, driven by a highly seasoned management team, is an excellent fit with our portfolio."
"Activ Surgical is poised to play a leading role in the democratization of surgical care, extending insights from experienced surgeons to surgical systems all over the globe, and ensuring world-class care for all, regardless of location," said Todd Usen, CEO, Activ Surgical. "We welcome the guidance and support from our new and current investors and Board members as we accelerate our efforts to commercialize our first product, ActivSight. 2020 will be pivotal for our business with committed pilot projects with major hospital systems slated to launch by the end of this year."
In conjunction with this fundraise, the Activ Surgical Board of Directors will expand to include Ameena El-Bibany from ARTIS Ventures and Will Cowen from LRVHealth. They will serve alongside current board members Emily Casey, DNS Capital; Ashok Krishnamurthi, Great Point Ventures; Paul Meister, Independent Board Member; Dr. Peter Kim, Activ Surgical; and Todd Usen, Activ Surgical.
Suggested Items
Lockheed Martin Successfully Transitions Long Range Discrimination Radar To The Missile Defense Agency
04/23/2024 | Lockheed MartinThe Long Range Discrimination Radar (LRDR) at Clear Space Force Station in Clear, Alaska, completed DD250 final acceptance and was officially handed over to the Missile Defense Agency in preparation for an Operational Capability Baseline (OCB) decision and final transition to the Warfighter. In addition, prior to this transition, the system has started Space Domain Awareness data collects for the United States Space Force.
Real Time with... IPC APEX EXPO 2024: AI Implementation at Omron
04/18/2024 | Real Time with...IPC APEX EXPOEditor Nolan Johnson and Omron Product Manager Nick Fieldhouse discuss the company's focus on AI implementation to enhance customer experience and results. They address programming challenges and how AI can help customers achieve better outcomes with less experience. Omron's AI is compatible with existing systems, facilitating easy upgrades.
Cadence Unveils Palladium Z3 and Protium X3 Systems
04/18/2024 | Cadence Design SystemsThe Palladium Z3 and Protium X3 systems offer increased capacity, and scale from job sizes of 16 million gates up to 48 billion gates, so the largest SoCs can be tested as a whole rather than just partial models, ensuring proper functionality and performance.
Australian Flow Batteries and The SCHMID Group Announce Groundbreaking Memorandum of Understanding
04/17/2024 | SCHMID GroupAustralian Flow Batteries Pty Ltd (AFB), a leader in innovative energy solutions and economical, safe, and reliable power storage, and SCHMID Energy Systems GmbH a company of the German SCHMID Group, a global technology leader with a rich history in delivering innovative solutions across multiple industries including Electronics, Renewables, and Energy Storage sectors, are thrilled to announce the signing of a Memorandum of Understanding (MoU)
Ansys Joins BAE Systems’ Mission Advantage Program to Advance Digital Engineering Across US Department of Defense
04/16/2024 | ANSYSAnsys announced it is working with BAE Systems, Inc., to accelerate the adoption of digital engineering and MBSE across the Department of Defense (DoD).