Mendaera announced today that it closed a $73 million Series B financing round to support its robotics and AI for medical procedures.
Threshold Ventures led the funding round for the San Mateo, California–based maker of a handheld robotic interventional platform. Lux Capital, PFM Health Sciences and Fred Moll, a leading figure in surgical robotics, participated.
Mendaera’s platform under development includes robotics, AI, real-time imaging and virtual connectivity. The company designed it for accessibility across specialties and sites, helping to meet the growing demand for needle-based interventions. Through a collaboration announced last year, its system utilizes the Ultrasound-on-Chip technology developed by Butterfly Network.
The company also purchased the telepresence technology developed by Avail Medsystems earlier this year, hiring employees from the now-shuttered company as well.
Mendaera plans to utilize the new funding to complete the development of its robotic technology. It also wants to accelerate the development of its AI and connectivity capabilities and begin clinical introduction of its platform.
“Traditional surgical robots have established footing in the operating room,” said Josh DeFonzo, founder and CEO of Mendaera. “But robotics and AI have evolved to a point where we can deliver broader benefits across all parts of the healthcare system and enable higher standards of care for more patients.
“We believe that our technology will allow healthcare systems and providers to provision medical procedures at scale – enhancing patient experience, increasing access to high-quality care, reducing overall cost, and improving healthcare provider satisfaction.”
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